N-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number File No. 811-04415

COLLEGE RETIREMENT EQUITIES FUND

(Exact name of Registrant as specified in charter)

730 Third Avenue, New York, New York 10017-3206

(Address of Principal Executive Offices) (Zip code)

F. Scott Thomas, Esq.

College Retirement Equities Fund

8500 Andrew Carnegie Blvd.

Charlotte, North Carolina 28262-8500

(Name and address of agent for service)

Registrant’s telephone number, including area code: 704-595-1000

Date of fiscal year end: December 31

Date of reporting period: March 31, 2017

Item 1. Schedule of Investments.

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2017

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
BONDS - 0.0%
CORPORATE BONDS - 0.0%
DIVERSIFIED FINANCIALS - 0.0%
$	466,000	m	Asia Pacific Investment Partners		1.500	%	04/23/17	$	433
			TOTAL DIVERSIFIED FINANCIALS						433
			TOTAL CORPORATE BONDS (Cost $466)						433
GOVERNMENT BONDS -  0.0%
U.S. TREASURY SECURITIES - 0.0%
	300,000		United States Treasury Note		1.750		05/15/22		297
			TOTAL U.S. TREASURY SECURITIES						297
			TOTAL GOVERNMENT BONDS (Cost $302)						297
			TOTAL BONDS (Cost $768)						730

SHARES			COMPANY
COMMON STOCKS - 99.2%
AUTOMOBILES & COMPONENTS - 2.0%
	162,085		Actron Technology Corp	574
	209,022	*,e	Adient plc	15,190
	122,900		Aisan Industry Co Ltd	1,037
	796,448		Aisin Seiki Co Ltd	39,227
	70,800	e	Akebono Brake Industry Co Ltd	222
	210,371	*	American Axle & Manufacturing Holdings, Inc	3,951
	509,177		Apollo Tyres Ltd	1,637
	49,652		ARB Corp Ltd	558
	20,351		Asahi India Glass Ltd	68
	3,582	e	Autoliv, Inc	366
	8,927		Autoneum Holding AG.	2,621
	120,650		Bajaj Holdings and Investment Ltd	5,213
	58,589		Balkrishna Industries Ltd	1,251
	258,172	e	Bayerische Motoren Werke AG.	23,556
	6,284		Bayerische Motoren Werke AG. (Preference)	494
	120,861		Bharat Forge Ltd	1,939
	468,974		BorgWarner, Inc	19,598
	11,834		Bosch Ltd	4,147
	76,755		Brembo S.p.A.	5,678

1

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	683,089		Bridgestone Corp	$	27,729
	3,464,135	e	Brilliance China Automotive Holdings Ltd		5,795
	753,763	e	Byd Co Ltd		4,180
	25,000		Cayman Engley Industrial Co Ltd		128
	75,795		Ceat Ltd		1,547
	453,000		Chaowei Power Holdings Ltd		303
	1,815,251		Cheng Shin Rubber Industry Co Ltd		3,751
	4,990,000	*	China First Capital Group Ltd		2,191
	1,548,000		China Motor Corp		1,418
	4,170,357		Chongqing Changan Automobile Co Ltd		5,797
	38,826		Cie Automotive S.A.		765
	300,172		Compagnie Plastic-Omnium S.A.		10,911
	69,066		Continental AG.		15,143
	129,969		Cooper Tire & Rubber Co		5,764
	115,786	*	Cooper-Standard Holding, Inc		12,844
	26,865		Cub Elecparts, Inc		231
	20,363		Dae Won Kang Up Co Ltd		86
	83,500	e	Daido Metal Co Ltd		734
	162,000		Daikyonishikawa Corp		2,125
	986,351		Daimler AG. (Registered)		72,792
	303,330		Dana Holding Corp		5,857
	1,456,047		Delphi Automotive plc		117,197
	420,801		Denso Corp		18,567
	53,000		Depo Auto Parts Ind Co Ltd		145
	257,108	*	Dometic Group AB		1,911
	17,615		Dong Ah Tire & Rubber Co Ltd		401
	3,143,787		Dongfeng Motor Group Co Ltd		3,534
	52,563	*	Dorman Products, Inc		4,317
	709,500		Drb-Hicom BHD		225
	163,800		Eagle Industry Co Ltd		2,238
	20,187	e	EDAG Engineering Group AG.		321
	14,103		EGE Endustri VE Ticaret AS.		1,010
	22,121	e	ElringKlinger AG.		430
	102,482		Exedy Corp		2,935
	388,259		Exide Industries Ltd		1,341
	1,257,128		Faurecia		59,687
	30,500		FCC Co Ltd		609
	95,383		Ferrari NV		7,109
	600,958	*,e	Fiat DaimlerChrysler Automobiles NV		6,566
	9,552,945		Ford Motor Co		111,196
	57,007		Ford Otomotiv Sanayi AS		558
	43,546	*	Fox Factory Holding Corp		1,250
	684,818		Fuji Heavy Industries Ltd		25,118
	169,397		Futaba Industrial Co Ltd		1,221
	674,400	e,g	Fuyao Glass Industry Group Co Ltd		2,341
	5,431,202		Geely Automobile Holdings Ltd		8,324
	18,507,434	*,m	General Motors Co		0	^
	24,057,000	*,m	General Motors Co		0
	6,062,000	*,m	General Motors Co		0
	35,983,677	*,m	General Motors Co		0
	40,684,487	*,m	General Motors Co		0
	85,268,000	*,e,m	General Motors Co		0

2

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,950,000	*,m	General Motors Co	$	0
	4,230,271	*	General Motors Co		0
	3,244,265		General Motors Co		114,717
	722,689	*,e,m	General Motors Co		0
	26,439,191	*,m	General Motors Co		0
	1,408,897		Gentex Corp		30,052
	71,879	*	Gentherm, Inc		2,821
	2,210,410		GKN plc		10,068
	29,489		Global & Yuasa Battery Co Ltd		973
	30,000		Global PMX Co Ltd		125
	72,306		Goodyear Lastikleri Turk AS.		73
	1,050,573		Goodyear Tire & Rubber Co		37,821
	53,565		Grammer AG.		3,292
	17,450,689	e	Great Wall Motor Co Ltd		19,888
	69,900		G-Tekt Corp		1,235
	11,982,861		Guangzhou Automobile Group Co Ltd		19,192
	7,372		Halla Holdings Corp		439
	74,596		Hanil E-Hwa Co Ltd		954
	64,196		Hanil E-Wha Co Ltd		591
	81,128		Hankook Tire Co Ltd		3,957
	196,219		Hanon Systems		1,629
	570,299		Harley-Davidson, Inc		34,503
	95,219		Hero Honda Motors Ltd		4,725
	23,000		Hiroca Holdings Ltd		75
	2,079,936		Honda Motor Co Ltd		62,791
	38,905	*	Horizon Global Corp		540
	160,990		Hota Industrial Manufacturing Co Ltd		674
	43,199		Hu Lane Associate, Inc		215
	65,900	*	Hunan Tyen Machinery Co Ltd		40
	65,375		Hwa Shin Co Ltd		377
	14,260,000	*,e	Hybrid Kinetic Group Ltd		358
	73,225		Hyundai Mobis		15,752
	173,580		Hyundai Motor Co		24,463
	35,607		Hyundai Motor Co Ltd (2nd Preference)		3,297
	19,271		Hyundai Motor Co Ltd (Preference)		1,712
	17,528		Hyundai Wia Corp		1,064
	24,000		Iron Force Industrial Co Ltd		138
	422,095		Isuzu Motors Ltd		5,590
	54,748		JK Tyre & Industries Ltd		111
	196,100		Kasai Kogyo Co Ltd		2,523
	789,896		Kayaba Industry Co Ltd		4,116
	75,800		Keihin Corp		1,247
	1,012,399		Kenda Rubber Industrial Co Ltd		1,682
	277,863		Kia Motors Corp		9,209
	15,836		Koito Manufacturing Co Ltd		825
	324,258	*	Kongsberg Automotive ASA		221
	28,160		Korea Autoglass Corp		420
	97,294	*	Kumho Tire Co, Inc		743
	144,000	*,e	Launch Tech Co Ltd		215
	95,306		LCI Industries, Inc		9,512
	431,892		Lear Corp		61,147
	25,324	e	Leoni AG.		1,301

3

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	33,401		Linamar Corp	$	1,519
	26,000		Macauto Industrial Co Ltd		148
	626,096	*	Magna International, Inc		27,019
	576,115		Mahindra & Mahindra Ltd		11,415
	78,588	*	Mahindra CIE Automotive Ltd		257
	32,100		Mahle-Metal Leve S.A. Industria e Comercio		223
	27,415		Mando Corp		6,364
	120,752		Martinrea International, Inc		937
	212,084		Maruti Suzuki India Ltd		19,649
	687,499		Mazda Motor Corp		9,924
	326,881	e	Metair Investments Ltd		618
	56,584		Metaldyne Performance Group, Inc		1,293
	40,263		MGI Coutier		1,396
	557,404		Michelin (C.G.D.E.) (Class B)		67,734
	558,000		Minth Group Ltd		2,250
	24,800		Mitsuba Corp		491
	329,317		Mitsubishi Motors Corp		1,975
	118,101	*	Modine Manufacturing Co		1,441
	373,629		Motherson Sumi Systems Ltd		2,140
	10,302		Motonic Corp		83
	35,392	*	Motorcar Parts of America, Inc		1,088
	20,100	e	Musashi Seimitsu Industry Co Ltd		514
	425,949		Nan Kang Rubber Tire Co Ltd		416
	17,837		Nexen Corp		135
	127,454		Nexen Tire Corp		1,596
	2,480,000		Nexteer Automotive Group Ltd		3,660
	739,744		NGK Spark Plug Co Ltd		16,963
	444,800		NHK Spring Co Ltd		4,925
	136,851		Nifco, Inc		6,878
	112,000		Nippon Seiki Co Ltd		2,413
	6,106,138		Nissan Motor Co Ltd		58,878
	60,941	e	Nissan Shatai Co Ltd		551
	128,700		Nissin Kogyo Co Ltd		2,311
	102,039		NOK Corp		2,383
	97,128		Nokian Renkaat Oyj		4,054
	365,700	e	Pacific Industrial Co Ltd		5,211
	3,022,244	*	Peugeot S.A.		60,740
	130,278	e	Piaggio & C S.p.A.		259
	69,600	e	Piolax Inc		1,594
	40,002		Porsche AG.		2,180
	336,400	e	Press Kogyo Co Ltd		1,687
	22,210,707		PT Astra International Tbk		14,376
	75,576		Pyeong Hwa Automotive Co Ltd		1,021
	8,188,000		Qingling Motors Co Ltd		2,666
	91,700		Rassini SAB de C.V.		407
	1,063,203		Renault S.A.		92,363
	6,800		Riken Corp		301
	39,145		S&T Daewoo Co Ltd		1,735
	17,456		S&T Holdings Co Ltd		250
	126,627		SAF-Holland S.A.		2,114
	518,000		Sanden Corp		1,727
	455,920		Sanyang Industry Co Ltd		322
	1,296,626		Schaeffler AG.		22,778

4

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	66,500		Showa Corp	$	566
	66,468		SL Corp		1,153
	98,312		Spartan Motors, Inc		786
	606,900		Sri Trang Agro-Industry PCL (Foreign)		339
	108,911	*	Ssangyong Motor Co		774
	103,801		Standard Motor Products, Inc		5,101
	148,887		Stanley Electric Co Ltd		4,257
	112,677	*	Stoneridge, Inc		2,044
	11,881		Strattec Security Corp		330
	671,125		Sumitomo Electric Industries Ltd		11,156
	95,473		Sumitomo Rubber Industries, Inc		1,629
	32,410		Sundram Fasteners Ltd		193
	29,414		Sungwoo Hitech Co Ltd		197
	64,320		Superior Industries International, Inc		1,631
	418,203		Suzuki Motor Corp		17,370
	2,143,653		T RAD Co Ltd		6,353
	21,300		Tachi-S Co Ltd		425
	66,300		Taiho Kogyo Co Ltd		991
	26,700	*,e	Takata Corp		115
	2,056,586		Tata Motors Ltd		14,750
	19,500		Teikoku Piston Ring Co Ltd		641
	157,695		Tenneco, Inc		9,843
	317,295	*,e	Tesla Motors, Inc		88,303
	299,526		Thor Industries, Inc		28,793
	2,826,000		Tianneng Power International Ltd		2,569
	129,589		Tofas Turk Otomobil Fabrik		971
	40,163		Tokai Rika Co Ltd		811
	92,200		Tokai Rubber Industries, Inc		934
	260,699		Tong Yang Industry Co Ltd		453
	105,800	e	Topre Corp		2,761
	40,511		Tower International, Inc		1,098
	78,900		Toyo Tire & Rubber Co Ltd		1,421
	52,115		Toyoda Gosei Co Ltd		1,329
	213,900		Toyota Boshoku Corp		4,975
	235,841		Toyota Industries Corp		11,732
	5,036,073		Toyota Motor Corp		273,347
	112,600		TS Tech Co Ltd		3,034
	115,547		Tube Investments Of India		1,117
	53,089		Tung Thih Electronic Co Ltd		458
	206,100		Tupy S.A.		971
	147,911		TVS Motor Co Ltd		981
	823,000		TYC Brother Industrial Co Ltd		898
	1,176,841		UMW Holdings BHD		1,596
	196,700		Unipres Corp		4,115
	14,073	e	Unique Fabricating, Inc		169
	620,523		Valeo S.A.		41,278
	211,319	*	Visteon Corp		20,699
	62,318		Volkswagen AG.		9,311
	39,460		Volkswagen AG. (Preference)		5,752
	7,851		WABCO India Ltd		704
	52,528		Winnebago Industries, Inc		1,536
	25,555	*,e	Workhorse Group, Inc		67

5

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	440,000	*	Xinchen China Power Holdings Ltd	$	71
	2,997,000		Xingda International Holdings Ltd		1,312
	10,954,785		Xinyi Glass Holdings Co Ltd		9,649
	2,602,000	*,e	Yadea Group Holdings Ltd		563
	128,272		Yamaha Motor Co Ltd		3,088
	91,300		Yokohama Rubber Co Ltd		1,789
	151,500		Yorozu Corp		2,334
	690,187		Yulon Motor Co Ltd		643
	80,000		Zhejiang Shibao Co Ltd		90
			TOTAL AUTOMOBILES & COMPONENTS		2,271,120
BANKS - 8.9%
	30,522		1st Source Corp		1,433
	1,285,030		77 Bank Ltd		5,575
	210,951		Aareal Bank AG.		8,156
	2,128,613	g	ABN AMRO Group NV (ADR)		51,616
	3,731,618		Abu Dhabi Commercial Bank PJSC		6,914
	15,531	e	Access National Corp		466
	13,320		ACNB Corp		384
	69,018,649		Agricultural Bank of China		31,830
	5,700		Aichi Bank Ltd		318
	4,489,654		Akbank TAS		10,541
	123,000		Akita Bank Ltd		384
	1,375,507		Albaraka Turk Katilim Bankasi AS		473
	644,559	*	Aldermore Group plc		1,795
	100,667	*	Alior Bank S.A.		1,814
	128,136		Allahabad Bank		145
	28,123	*	Allegiance Bancshares, Inc		1,046
	1,103,756		Alliance Financial Group BHD		1,017
	1,605,141	*	Alpha Bank AE		2,869
	315,270	*,m	Amagerbanken AS		0
	18,970		American National Bankshares, Inc		707
	97,494		Ameris Bancorp		4,494
	19,892	e	Ames National Corp		609
	540,961	*	Amlak Finance PJSC		161
	3,272,038		AMMB Holdings BHD		3,439
	373,488		Andhra Bank		333
	137,000		Aomori Bank Ltd		470
	7,665,660		Aozora Bank Ltd		28,299
	26,313		Arrow Financial Corp		892
	1,430,800		Ashikaga Holdings Co Ltd		5,717
	168,257		Associated Banc-Corp		4,105
	183,154		Astoria Financial Corp		3,756
	37,440	*	Atlantic Capital Bancshares, Inc		709
	2,185,320		Australia & New Zealand Banking Group Ltd		53,061
	407,721		Awa Bank Ltd		2,586
	2,191,208		Axis Bank Ltd		16,565
	228,249	e	Banc of California, Inc		4,725
	528,642	*,e	Banca Carige S.p.A		151
	38,398,419		Banca Intesa S.p.A.		104,448
	4,393,578		Banca Intesa S.p.A. RSP		11,175
	21,184	*,m	Banca Monte dei Paschi di Siena S.p.A		256
	373,225	e	Banca Popolare dell’Emilia Romagna Scrl		1,863

6

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	351,597		Banca Popolare di Sondrio SCARL	$	1,213
	15,420		Bancfirst Corp		1,386
	734,905	e	Banche Popolari Unite Scpa		2,811
	379,649		Banco ABC Brasil S.A.		2,271
	10,813	*	Banco ABC Brasil S.A. (ADR)		65
	2,608,871		Banco Bilbao Vizcaya Argentaria S.A.		20,252
	183,741	*,e	Banco BPI S.A.		208
	4,280,176		Banco BPM S.p.A		12,703
	1,451,989	*	Banco Bradesco S.A.		14,865
	4,496,966	*	Banco Bradesco S.A. (Preference)		46,512
	7,664,503	*,e	Banco Comercial Portugues S.A.		1,603
	36,544,210		Banco de Chile		4,409
	21,263		Banco de Credito e Inversiones		1,170
	2,216,810		Banco de Oro Universal Bank		5,196
	1,248,926	*	Banco de Sabadell S.A.		2,288
	1,522,932		Banco do Brasil S.A.		16,428
	648,300		Banco do Estado do Rio Grande do Sul		3,131
	16,063,377	*,m	Banco Espirito Santo S.A.		171
	58,200	*,m	Banco Industrial e Comercial S.A.		154
	6,626,141		Banco Itau Holding Financeira S.A.		80,218
	90,227		Banco Latinoamericano de Exportaciones S.A. (Class E)		2,503
	672,691	*,e	Banco Popular Espanol S.A.		652
	998,048		Banco Santander Brasil S.A.		8,815
	65,505,749		Banco Santander Chile S.A.		4,103
	17,391,199		Banco Santander S.A.		106,457
	152,500		BanColombia S.A. (ADR)		6,080
	739,716		BanColombia S.A. (Preference)		7,384
	260,287		Bancorpsouth, Inc		7,874
	118,800		Bangkok Bank PCL (ADR)		628
	647,800		Bangkok Bank PCL (Foreign)		3,508
	54,357		Bank Handlowy w Warszawie S.A.		1,050
	1,865,307		Bank Hapoalim Ltd		11,368
	2,356,170	*	Bank Leumi Le-Israel		10,402
	469,847	*	Bank Millennium S.A.		764
	139,358		Bank Mutual Corp		1,310
	42,101,148	n	Bank of America Corp		993,166
	153,156,272		Bank of China Ltd		76,162
	1,075,000	e	Bank of Chongqing Co Ltd		931
	23,368,946	e	Bank of Communications Co Ltd		18,191
	1,212,930	e	Bank of East Asia Ltd		5,018
	135,235		Bank of Georgia Holdings plc		5,438
	47,004		Bank of Hawaii Corp		3,871
	127,847,647	*	Bank of Ireland		31,981
	31,400	e	Bank of Iwate Ltd		1,330
	2,577,487	e	Bank of Kyoto Ltd		18,813
	17,151		Bank of Marin Bancorp		1,104
	1,028,060	*	Bank of Montreal		76,788
	10,699	e	Bank of Nagoya Ltd		385
	1,971,978	e	Bank of Nova Scotia		115,366
	109,196		Bank of NT Butterfield & Son Ltd		3,484
	45,800		Bank of Okinawa Ltd		1,754
	264,920		Bank of Queensland Ltd		2,459

7

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	258,541		Bank of Saga Ltd	$	709
	186,497		Bank of the Ozarks, Inc		9,700
	989,519		Bank of the Philippine Islands		1,996
	148,300		Bank of the Ryukyus Ltd		2,135
	291,750		Bank Pekao S.A.		9,712
	12,429,771		Bank Rakyat Indonesia		12,103
	52,346		Bank Zachodni WBK S.A.		4,517
	56,668		BankFinancial Corp		823
	1,825,941	e	Bankia S.A.		2,078
	119,892		Bankinter S.A.		1,005
	176,595		BankUnited		6,589
	12,224		Bankwell Financial Group, Inc		420
	59,117		Banner Corp		3,289
	2,511		Banque Cantonale Vaudoise		1,732
	536,800		Banregio Grupo Financiero SAB de C.V.		3,203
	29,181		Bar Harbor Bankshares		965
	724,404	e	Barclays Africa Group Ltd		7,533
	21,633,239		Barclays plc		61,066
	1,434,698		BB&T Corp		64,131
	39,584		Bear State Financial, Inc		372
	220,603	e	Bendigo Bank Ltd		2,044
	397,100		Beneficial Bancorp, Inc		6,354
	171,587		Berkshire Hills Bancorp, Inc		6,186
	88,384		Blue Hills Bancorp, Inc		1,578
	111,155		BNC Bancorp		3,896
	1,873,496		BNP Paribas		124,670
	8,670,116		BOC Hong Kong Holdings Ltd		35,438
	117,917	*,e	BofI Holding, Inc		3,081
	32,090		BOK Financial Corp		2,512
	195,538		Boston Private Financial Holdings, Inc		3,207
	14,027	*	BRE Bank S.A.		1,321
	43,474		Bridge Bancorp, Inc		1,522
	290,951		Brookline Bancorp, Inc		4,553
	47,056		Bryn Mawr Bank Corp		1,859
	284,941		BS Financial Group, Inc		2,338
	18,253	*	BSB Bancorp, Inc		516
	4,141,706		Bumiputra-Commerce Holdings BHD		5,213
	7,187		C&F Financial Corp		333
	7,035,543		CaixaBank S.A.		30,249
	4,905	e	California First National Bancorp		79
	31,914		Camden National Corp		1,405
	6,178		Can Fin Homes Ltd		202
	705,589		Canadian Imperial Bank of Commerce/Canada		60,841
	68,439	e	Canadian Western Bank		1,515
	75,966		Canara Bank		354
	91,934		Capital Bank Financial Corp		3,990
	32,776		Capital City Bank Group, Inc		701
	43,166		Capitec Bank Holdings Ltd		2,451
	251,264		Capitol Federal Financial		3,676
	2,657	*,e	Capstar Financial Holdings, Inc		51
	103,982		Cardinal Financial Corp		3,113
	21,528		Carolina Financial Corp		646
	115,308	*	Cascade Bancorp		889

8

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	300,469		Cathay General Bancorp	$	11,322
	267,128		Centerstate Banks of Florida, Inc		6,919
	205,455		Central Pacific Financial Corp		6,275
	17,666		Central Valley Community Bancorp		362
	7,169		Century Bancorp, Inc		436
	6,140,653		Chang Hwa Commercial Bank		3,742
	42,976		Charter Financial Corp		845
	218,977		Chemical Financial Corp		11,201
	6,865		Chemung Financial Corp		271
	2,426,666	e	Chiba Bank Ltd		15,615
	37,400		Chiba Kogyo Bank Ltd		207
	9,979,481		China Citic Bank		6,621
	149,471,748		China Construction Bank		120,431
	12,184,861		China Development Financial Holding Corp		3,345
	4,018,685		China Everbright Bank Co Ltd		1,965
	6,450,896		China Merchants Bank Co Ltd		17,071
	7,336,810	e	China Minsheng Banking Corp Ltd		7,843
	19,284,781		Chinatrust Financial Holding Co		11,915
	477,000		Chong Hing Bank Ltd		1,042
	12,314,584		Chongqing Rural Commercial Bank		8,320
	36,305	e	Chugoku Bank Ltd		530
	6,200		Chukyo Bank Ltd		131
	542,529		CIT Group, Inc		23,291
	8,681,412		Citigroup, Inc		519,322
	26,526		Citizens & Northern Corp		618
	4,378,778		Citizens Financial Group, Inc		151,287
	28,377		City Holding Co		1,830
	50,477	e	Clifton Bancorp, Inc		817
	31,252		CNB Financial Corp		747
	89,092		CoBiz, Inc		1,497
	18,090		Codorus Valley Bancorp, Inc		469
	15,951	*,e	Collector AB		175
	219,867		Columbia Banking System, Inc		8,573
	22,252	e	Comdirect Bank AG.		224
	1,695,055		Comerica, Inc		116,247
	103,447		Commerce Bancshares, Inc		5,810
	193,083		Commercial Bank of Qatar QSC		1,800
	2,498,444		Commercial International Bank		10,455
	2,177,574		Commerzbank AG.		19,729
	1,632,557	e	Commonwealth Bank of Australia		107,055
	84,870	e	Community Bank System, Inc		4,666
	29,502		Community Trust Bancorp, Inc		1,350
	1,314,329		Concordia Financial Group Ltd		6,093
	107,045		ConnectOne Bancorp, Inc		2,596
	911,687,402		Corpbanca S.A.		8,237
	10,173		County Bancorp, Inc		296
	99,541		Credicorp Ltd (NY)		16,255
	3,377,542		Credit Agricole S.A.		45,653
	74,212		Credito Emiliano S.p.A.		510
	744,867	e	Credito Valtellinese SC		2,807
	61,140	*	CU Bancorp		2,424
	69,413		Cullen/Frost Bankers, Inc		6,176

9

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	51,367	*	Customers Bancorp, Inc	$	1,620
	200,624		CVB Financial Corp		4,432
	885,472	*,e	CYBG plc		3,087
	5,646,074	*,m	Cyprus Popular Bank Public Co Ltd		60
	728,827		Dah Sing Banking Group Ltd		1,437
	541,108		Dah Sing Financial Holdings Ltd		4,123
	202,000		Daishi Bank Ltd		802
	1,507,072		Danske Bank AS		51,385
	6,114,087		DBS Group Holdings Ltd		84,692
	83,674	g	Deutsche Pfandbriefbank AG.		1,041
	518,698	*	Development Credit Bank Ltd		1,361
	351,699		Dewan Housing Finance Corp Ltd		1,989
	181,865		DGB Financial Group Co Ltd		1,763
	115,815		Dime Community Bancshares		2,351
	1,446,560		DNB NOR Holding ASA		22,969
	31,543		Doha Bank QSC		272
	2,036,666		Dubai Islamic Bank PJSC		3,104
	9,548,400		E.Sun Financial Holding Co Ltd		5,805
	84,098	*	Eagle Bancorp, Inc		5,021
	406,803		East West Bancorp, Inc		20,995
	23,100	e	Ehime Bank Ltd		282
	275,000		Eighteenth Bank Ltd		889
	18,906		Enterprise Bancorp, Inc		657
	75,753		Enterprise Financial Services Corp		3,212
	18,892	e	Equitable Group, Inc		985
	10,922	*	Equity Bancshares, Inc		347
	1,783,880		Erste Bank der Oesterreichischen Sparkassen AG.		58,086
	15,078		ESSA Bancorp, Inc		220
	371,147	*	Essent Group Ltd		13,424
	2,103,878	*	Eurobank Ergasias S.A.		1,285
	239,272		EverBank Financial Corp		4,661
	2,877,221		Far Eastern International Bank		907
	14,508		Farmers Capital Bank Corp		586
	50,306		Farmers National Banc Corp		722
	11,712	*,e	FB Financial Corp		414
	79,205	*	FCB Financial Holdings, Inc		3,925
	24,336		Federal Agricultural Mortgage Corp (Class C)		1,401
	1,731,429		Federal Bank Ltd		2,439
	61,018		Fidelity Southern Corp		1,366
	682,949		Fifth Third Bancorp		17,347
	47,641		Financial Institutions, Inc		1,570
	1,416,042		FinecoBank Banca Fineco S.p.A		9,630
	38,267		First Bancorp (NC)		1,121
	1,100,827	*	First Bancorp (Puerto Rico)		6,220
	23,729		First Bancorp, Inc		647
	60,388		First Busey Corp		1,775
	24,448		First Business Financial Services, Inc		635
	14,963		First Citizens Bancshares, Inc (Class A)		5,018
	174,351		First Commonwealth Financial Corp		2,312
	34,181		First Community Bancshares, Inc		853
	29,999	*,e	First Community Financial Partners, Inc		382
	57,617		First Connecticut Bancorp		1,429
	23,793		First Defiance Financial Corp		1,178

10

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	138,350		First Financial Bancorp	$	3,798
	125,507	e	First Financial Bankshares, Inc		5,033
	29,580		First Financial Corp		1,405
	10,650,910		First Financial Holding Co Ltd		6,494
	17,499		First Financial Northwest, Inc		309
	68,193	*	First Foundation, Inc		1,058
	993,071		First Gulf Bank PJSC		3,490
	87,002		First Hawaiian, Inc		2,603
	245,346		First Horizon National Corp		4,539
	133,114		First International Bank Of Israel Ltd		2,166
	13,696		First Internet Bancorp		404
	78,363	e	First Interstate Bancsystem, Inc		3,107
	170,731		First Merchants Corp		6,713
	14,138		First Mid-Illinois Bancshares, Inc		478
	414,951		First Midwest Bancorp, Inc		9,826
	12,988	e	First National Financial Corp		261
	33,595	*,e	First NBC Bank Holding Co		134
	25,485	*	First Northwest Bancorp		395
	56,004		First of Long Island Corp		1,515
	140,013		First Republic Bank		13,135
	85,764	*	Flagstar Bancorp, Inc		2,418
	56,853		Flushing Financial Corp		1,528
	1,004,221		FNB Corp		14,933
	75,264	*	Franklin Financial Network, Inc		2,916
	2,342,412		Fukuoka Financial Group, Inc		10,175
	339,157		Fulton Financial Corp		6,054
	238,485	e	Genworth MI Canada, Inc		6,594
	199,884		Genworth Mortgage Insurance Australia Ltd		480
	27,469		German American Bancorp, Inc		1,300
	343,723	*	Get Bank S.A.		170
	281,056		Glacier Bancorp, Inc		9,536
	27,972		Great Southern Bancorp, Inc		1,413
	155,051		Great Western Bancorp, Inc		6,576
	71,706	*	Green Bancorp, Inc		1,276
	6,503	e	Greene County Bancorp, Inc		152
	117,196		Gruh Finance Ltd		714
	8,669,204		Grupo Aval Acciones y Valores		3,528
	3,501,568		Grupo Financiero Banorte S.A. de C.V.		20,135
	2,514,565	e	Grupo Financiero Inbursa S.A.		4,168
	87,000		Grupo Financiero Interacciones S.A. de C.V.		405
	1,974,874		Grupo Financiero Santander Mexico SAB de C.V.		3,572
	28,505	*,e	Grupo Supervielle S.A. (ADR)		485
	54,729		Guaranty Bancorp		1,333
	1,252,183	e	Gunma Bank Ltd		6,533
	140,416		Hachijuni Bank Ltd		792
	333,715		Hana Financial Group, Inc		11,012
	178,452		Hancock Holding Co		8,128
	782,988	e	Hang Seng Bank Ltd		15,884
	133,345		Hanmi Financial Corp		4,100
	21,805	*,e	HarborOne Bancorp, Inc		414
	248,067		HDFC Bank Ltd		5,515
	104,521		Heartland Financial USA, Inc		5,221

11

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	111,578		Heritage Commerce Corp	$	1,573
	113,051		Heritage Financial Corp		2,798
	46,932		Heritage Oaks Bancorp		627
	511,309		Hilltop Holdings, Inc		14,046
	2,738		Hingham Institution for Savings		484
	100,647		Hiroshima Bank Ltd		428
	612,000		Hokkoku Bank Ltd		2,327
	24,700	e	Hokuetsu Bank Ltd		638
	93,200		Hokuhoku Financial Group, Inc		1,463
	12,240		Home Bancorp, Inc		413
	237,965		Home Bancshares, Inc		6,442
	184,365	e	Home Capital Group, Inc		3,609
	46,047	*	HomeStreet, Inc		1,287
	58,505	*	HomeTrust Bancshares, Inc		1,375
	978,516		Hong Leong Bank BHD		3,043
	87,120		Hong Leong Credit BHD		313
	344,823		Hope Bancorp, Inc		6,610
	50,807		Horizon Bancorp		1,332
	2,225,488		Housing Development Finance Corp		51,488
	13,970,740		HSBC Holdings plc		113,957
	8,481,024		Hua Nan Financial Holdings Co Ltd		4,737
	7,208,536		Huntington Bancshares, Inc		96,522
	168,692		Hyakugo Bank Ltd		674
	181,000		Hyakujushi Bank Ltd		613
	215,107		IBERIABANK Corp		17,015
	1,108,334		ICICI Bank Ltd		4,734
	1,466,057		IDFC Bank Ltd		1,339
	20,652	*,e	Impac Mortgage Holdings, Inc		257
	50,701		Independent Bank Corp (MA)		3,296
	75,564		Independent Bank Corp (MI)		1,564
	41,245		Independent Bank Group, Inc		2,652
	143,128,749		Industrial & Commercial Bank of China		93,656
	258,026		Industrial Bank of Korea		2,813
	18,430,293		ING Groep NV		278,376
	118,567		International Bancshares Corp		4,197
	2,283,775		Investors Bancorp, Inc		32,841
	541,290	*,m	Irish Bank Resolution Corp Ltd		0
	879,586	*	Israel Discount Bank Ltd		2,066
	114,581	*,m	Itausa-Investimentos Itau S.A. (ADR)		348
	201,500	e	Iyo Bank Ltd		1,360
	334,877		Jammu & Kashmir Bank Ltd		387
	857,791		Japan Post Bank Co Ltd		10,650
	79,909		JB Financial Group Co Ltd		426
	371,600		Jimoto Holdings Inc		633
	11,961,335		JPMorgan Chase & Co		1,050,684
	246,555		Juroku Bank Ltd		796
	55,269		Jyske Bank		2,795
	109,800		Kansai Urban Banking Corp		1,397
	57,100		Kanto Tsukuba Bank Ltd		160
	557,796		Karnataka Bank Ltd		1,209
	374,360		Karur Vysya Bank Ltd		646
	1,941,997		Kasikornbank PCL (Foreign)		10,685

12

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	936,315		KB Financial Group, Inc	$	41,035
	351,608		KBC Groep NV		23,309
	472,480		Kearny Financial Corp		7,111
	809,000		Keiyo Bank Ltd		3,505
	1,032,073		Keycorp		18,350
	1,450,932		Kiatnakin Bank PCL (Foreign)		2,935
	2,408,000		King’s Town Bank		2,393
	65,100		Kiyo Bank Ltd		1,000
	22,660		KJB Financial Group Co Ltd		223
	71,001		Komercni Banka AS		2,635
	8,990,324		Krung Thai Bank PCL (Foreign)		5,338
	256,600		Kyushu Financial Group, Inc		1,572
	109,959		Lakeland Bancorp, Inc		2,155
	47,182		Lakeland Financial Corp		2,034
	30,233		Laurentian Bank of Canada		1,332
	18,372	e	LCNB Corp		438
	310,717		LegacyTexas Financial Group, Inc		12,398
	18,356	*,e	LendingTree, Inc		2,301
	3,279,028		LH Financial Group PCL		170
	319,439	*	Liberbank S.A.		411
	500,706		LIC Housing Finance Ltd		4,769
	38,110	e	Live Oak Bancshares, Inc		825
	29,142,886		Lloyds TSB Group plc		24,238
	215,356		M&T Bank Corp		33,322
	60,683		Macatawa Bank Corp		600
	66,548		MainSource Financial Group, Inc		2,191
	3,736,076		Malayan Banking BHD		7,528
	1,251,002		Malaysia Building Society		368
	405,319		Masraf Al Rayan		4,692
	149,941		MB Financial, Inc		6,420
	41,244		MBT Financial Corp		468
	6,590,656		Mediobanca S.p.A.		59,423
	12,218,734		Mega Financial Holding Co Ltd		9,860
	39,400		Mercantile Bank Corp		1,355
	12,285		Merchants Bancshares, Inc		598
	144,720		Meridian Bancorp, Inc		2,648
	53,247		Meta Financial Group, Inc		4,712
	46,729	*	Metro Bank plc		1,895
	3,540,127		Metropolitan Bank & Trust		5,641
	1,200,725	*	MGIC Investment Corp		12,163
	10,083	e	Middleburg Financial Corp		404
	29,692		Midland States Bancorp, Inc		1,021
	9,900		Midsouth Bancorp, Inc		151
	17,290		MidWestOne Financial Group, Inc		593
	23,200		Mie Bank Ltd		490
	18,100	e	Minato Bank Ltd		336
	23,711,465		Mitsubishi UFJ Financial Group, Inc		149,362
	421,646		Mitsui Trust Holdings, Inc		14,611
	162,000		Miyazaki Bank Ltd		500
	140,139		Mizrahi Tefahot Bank Ltd		2,375
	25,837,763		Mizuho Financial Group, Inc		47,427
	5,650,345	*,g	Moneta Money Bank AS.		19,139

13

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	23,068		Musashino Bank Ltd	$	684
	11,105		MutualFirst Financial, Inc		350
	52,592		Nanto Bank Ltd		1,928
	2,341,402		National Australia Bank Ltd		59,618
	232,916		National Bank Holdings Corp		7,570
	707,907		National Bank of Abu Dhabi PJSC		1,976
	421,409		National Bank of Canada		17,695
	6,176,064	*	National Bank of Greece S.A.		1,580
	15,096	e	National Bankshares, Inc		567
	23,329	*	National Commerce Corp		854
	63,521	*,e	Nationstar Mortgage Holdings, Inc		1,001
	867,796		Natixis		5,342
	83,349		NBT Bancorp, Inc		3,090
	470,933	e	Nedbank Group Ltd		8,462
	518,375		New York Community Bancorp, Inc		7,242
	15,331	*	Nicolet Bankshares, Inc		726
	175,660		Nishi-Nippon Financial Holdings, Inc		1,766
	435,708	*	NMI Holdings, Inc		4,967
	2,921,989	g	Nordax Group AB		15,000
	2,866,757		Nordea Bank AB		32,706
	1,029,300		North Pacific Bank Ltd		3,904
	81,664		Northfield Bancorp, Inc		1,472
	16,056		Northrim BanCorp, Inc		482
	188,726		Northwest Bancshares, Inc		3,178
	55,942		OceanFirst Financial Corp		1,576
	169,764	*,e	Ocwen Financial Corp		929
	86,716	e	OFG Bancorp		1,023
	628,000		Ogaki Kyoritsu Bank Ltd		1,871
	126,000	e	Oita Bank Ltd		492
	23,079		Old Line Bancshares, Inc		657
	262,846		Old National Bancorp		4,560
	62,810		Old Second Bancorp, Inc		707
	504,549		OneSavings Bank plc		2,555
	153,772		Opus Bank		3,098
	62,360		Oriental Bank of Commerce		135
	99,183		Oritani Financial Corp		1,686
	15,107		Orrstown Financial Services, Inc		338
	446,161		OTP Bank		12,465
	3,908,664		Oversea-Chinese Banking Corp		27,150
	59,443		Pacific Continental Corp		1,456
	32,254	*	Pacific Mercantile Bancorp		244
	125,315	*	Pacific Premier Bancorp, Inc		4,831
	221,347		PacWest Bancorp		11,789
	193	*,e	Paragon Commercial Corp		10
	439,979		Paragon Group of Cos plc		2,303
	26,203		Park National Corp		2,757
	218,958		Park Sterling Bank		2,695
	58,808		Peapack Gladstone Financial Corp		1,740
	10,809		Penns Woods Bancorp, Inc		470
	66,116	*	PennyMac Financial Services, Inc		1,127
	50,947		Peoples Bancorp, Inc		1,613
	16,339		Peoples Financial Services Corp		683
	387,415		People’s United Financial, Inc		7,051

14

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	26,403		People’s Utah Bancorp	$	698
	106,132	*,e	Permanent TSB Group Holdings plc		273
	351,888	*	PHH Corp		4,480
	3,000,000		Philippine National Bank		3,306
	191,511		Pinnacle Financial Partners, Inc		12,726
	7,253,347	*	Piraeus Bank S.A.		1,314
	1,992,443		PNC Financial Services Group, Inc		239,571
	287,748		Popular, Inc		11,720
	1,452,408		Powszechna Kasa Oszczednosci Bank Polski S.A.		11,739
	88,049		Preferred Bank		4,725
	20,083		Premier Financial Bancorp, Inc		422
	249,725		PrivateBancorp, Inc		14,826
	131,642		Prosperity Bancshares, Inc		9,177
	9,469	*	Provident Bancorp, Inc		198
	11,458		Provident Financial Holdings, Inc		214
	168,632		Provident Financial Services, Inc		4,359
	62,285,600		PT Bank Bukopin Tbk		2,922
	12,250,074		PT Bank Central Asia Tbk		15,210
	3,590,957		PT Bank Danamon Indonesia Tbk		1,267
	9,660,000		PT Bank Jabar Banten Tbk		1,465
	10,341,080		PT Bank Mandiri Persero Tbk		9,082
	9,247,319		PT Bank Negara Indonesia		4,496
	44,500,000	*	PT Bank Pan Indonesia Tbk		3,024
	43,172,700		PT Bank Pembangunan Daerah Jawa Timur Tbk		2,237
	12,799,194		PT Bank Tabungan Negara Tbk		2,180
	3,147,484		Public Bank BHD		14,149
	138,604	*	Qatar First Bank		328
	62,525		Qatar Islamic Bank SAQ		1,757
	269,029		Qatar National Bank		10,795
	34,671		QCR Holdings, Inc		1,468
	847,112		Radian Group, Inc		15,214
	18,558	*	Raiffeisen International Bank Holding AG.		419
	76,165	*	RBL Bank Ltd		580
	2,008,751		Regions Financial Corp		29,187
	84,361		Renasant Corp		3,348
	21,590		Republic Bancorp, Inc (Class A)		742
	86,234	*,e	Republic First Bancorp, Inc		716
	2,743,894		Resona Holdings, Inc		14,751
	589,802		RHB Capital BHD		689
	97,820		Rizal Commercial Banking Corp		75
	5,200	*,m	Roskilde Bank		0
	2,003,641	*	Royal Bank of Canada		145,981
	2,520,490	*	Royal Bank of Scotland Group plc		7,643
	66,188		S&T Bancorp, Inc		2,290
	90,382		Sandy Spring Bancorp, Inc		3,705
	353,200		San-In Godo Bank Ltd		2,836
	6,836,569		Sberbank of Russian Federation (ADR)		79,018
	107,165	*	Seacoast Banking Corp of Florida		2,570
	184,190		Security Bank Corp		741
	404,480		Senshu Ikeda Holdings, Inc		1,673
	90,100	e	ServisFirst Bancshares, Inc		3,278
	659,093	e	Seven Bank Ltd		2,158

15

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	123,112	*,g	Shawbrook Group plc	$	523
	217,000	e	Shiga Bank Ltd		1,114
	350,000		Shikoku Bank Ltd		914
	984,603		Shinhan Financial Group Co Ltd		41,025
	1,776,179	e	Shinsei Bank Ltd		3,273
	276,400		Shizuoka Bank Ltd		2,254
	32,823		Shore Bancshares, Inc		548
	22,544		SI Financial Group, Inc		317
	1,811,417		Siam Commercial Bank PCL (Foreign)		8,593
	28,763		Sierra Bancorp		789
	101,996	*	Signature Bank		15,135
	74,323		Simmons First National Corp (Class A)		4,099
	12,081,190		SinoPac Financial Holdings Co Ltd		3,770
	49,781	*,g	Skandiabanken ASA		401
	1,348,382	e	Skandinaviska Enskilda Banken AB (Class A)		14,983
	2,040,067		Societe Generale		103,361
	2,578,170		South Indian Bank Ltd		848
	140,616		South State Corp		12,564
	12,432	*	Southern First Bancshares, Inc		406
	12,367		Southern Missouri Bancorp, Inc		439
	26,203		Southern National Bancorp of Virginia, Inc		444
	51,674		Southside Bancshares, Inc		1,735
	78,104		Southwest Bancorp, Inc		2,042
	73,095		Spar Nord Bank A/s		809
	347,279		Sparebanken Midt-Norge		2,690
	305,599		Sparebanken Nord-Norge		1,966
	2,951		St Galler Kantonalbank		1,237
	2,220,762	e	Standard Bank Group Ltd		23,814
	1,276,234	*	Standard Chartered plc		12,207
	68,155		State Bank & Trust Co		1,780
	1,826,400		State Bank of India		8,255
	618,635		Sterling Bancorp/DE		14,662
	41,353		Stock Yards Bancorp, Inc		1,681
	34,096		Stonegate Bank		1,606
	13,271		Suffolk Bancorp		536
	2,773,412		Sumitomo Mitsui Financial Group, Inc		100,949
	19,847	e	Summit Financial Group, Inc		427
	27,068		Sun Bancorp, Inc		660
	1,116,810		SunTrust Banks, Inc		61,760
	139,190		Suruga Bank Ltd		2,938
	85,742	*	SVB Financial Group		15,956
	362,563	*,e	Svenska Handelsbanken AB		4,969
	1,767,683	e	Swedbank AB (A Shares)		40,901
	181,985		Sydbank AS		6,308
	50,584		Syndicate Bank		56
	177,702		Synovus Financial Corp		7,289
	2,555,940		Taichung Commercial Bank		830
	7,306,609		Taishin Financial Holdings Co Ltd		3,045
	1,379,087		Taiwan Business Bank		382
	7,638,326		Taiwan Cooperative Financial Holding		3,802
	503,722		TCF Financial Corp		8,573
	328,197		TCS Group Holding plc (ADR)		3,462
	18,763		Territorial Bancorp, Inc		585

16

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	121,955	*	Texas Capital Bancshares, Inc	$	10,177
	201,425		TFS Financial Corp		3,348
	3,073,600		Thanachart Capital PCL		4,314
	97,200	*	The Bancorp, Inc		496
	59,033	e	Timbercreek Financial Corp		418
	1,909,580		Tisco Bank PCL		3,989
	9,674,787		TMB Bank PCL (Foreign)		687
	95,700		Tochigi Bank Ltd		442
	148,000		Toho Bank Ltd		558
	40,193		Tokyo TY Financial Group, Inc		1,209
	398,400		Tomony Holdings, Inc		2,108
	28,438		Tompkins Trustco, Inc		2,291
	2,949,573		Toronto-Dominion Bank		147,739
	472,000		Towa Bank Ltd		500
	109,232		TowneBank		3,539
	104,464		Trico Bancshares		3,712
	43,251	*	Tristate Capital Holdings, Inc		1,010
	63,417	*	Triumph Bancorp, Inc		1,636
	299,468		Trustco Bank Corp NY		2,351
	133,211		Trustmark Corp		4,235
	3,375,909		Turkiye Garanti Bankasi AS		8,233
	854,962		Turkiye Halk Bankasi AS		2,440
	5,687,714		Turkiye Is Bankasi (Series C)		10,380
	3,696,031		Turkiye Sinai Kalkinma Bankasi AS		1,403
	754,382		Turkiye Vakiflar Bankasi Tao		1,113
	88,799		UMB Financial Corp		6,687
	700,711		Umpqua Holdings Corp		12,431
	3,606,206		UniCredit S.p.A		55,591
	506,359		Union Bank of India		1,216
	161,128		Union Bankshares Corp		5,668
	8,617	e	Union Bankshares, Inc		370
	136,758	e	United Bankshares, Inc		5,778
	295,095		United Community Banks, Inc		8,171
	104,817		United Community Financial Corp		874
	198,416		United Financial Bancorp, Inc (New)		3,375
	1,864,151	e	United Overseas Bank Ltd		29,445
	47,718		Univest Corp of Pennsylvania		1,236
	4,643,950		US Bancorp		239,163
	15,510		Valiant Holding		1,651
	1,026,823		Valley National Bancorp		12,117
	19,541	*	Veritex Holdings, Inc		549
	294,878		Vijaya Bank		312
	1,474,865		Virgin Money Holdings UK plc		5,924
	4,160,499		VTB Bank OJSC (GDR)		9,537
	186,102	*	Walker & Dunlop, Inc		7,759
	179,588		Washington Federal, Inc		5,944
	45,184		Washington Trust Bancorp, Inc		2,228
	17,187		WashingtonFirst Bankshares, Inc		481
	87,945		Waterstone Financial, Inc		1,605
	243,734		Webster Financial Corp		12,196
	18,116,442		Wells Fargo & Co		1,008,361
	79,197		WesBanco, Inc		3,018

17

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	44,976		West Bancorporation, Inc	$	1,032
	48,734	e	Westamerica Bancorporation		2,721
	239,209	*	Western Alliance Bancorp		11,743
	44,360		Western New England Bancorp, Inc		466
	5,334,588		Westpac Banking Corp		142,606
	179,543		Wintrust Financial Corp		12,410
	419,533	*,e	WMIH Corp		608
	1,075,891		Woori Bank		12,499
	163,228		WSFS Financial Corp		7,500
	11,966	*,e	Xenith Bankshares, Inc		304
	99,000	e	Yamagata Bank Ltd		431
	78,492	e	Yamaguchi Financial Group, Inc		851
	109,000		Yamanashi Chuo Bank Ltd		488
	4,163,189	*	Yapi ve Kredi Bankasi		4,351
	588,337		Yes Bank Ltd		14,022
	2,915,582		Zions Bancorporation		122,454
			TOTAL BANKS		10,455,003
CAPITAL GOODS - 8.1%
	2,666,993		3M Co		510,276
	505,388		A.O. Smith Corp		25,856
	79,576		Aalberts Industries NV		2,966
	79,229		Aaon, Inc		2,801
	118,954		AAR Corp		4,000
	1,783,240		ABB Ltd		41,738
	1,890,007		Aboitiz Equity Ventures, Inc		2,804
	331,000		AcBel Polytech, Inc		260
	511,953		ACS Actividades Construccion y Servicios S.A.		17,403
	115,999		Actuant Corp (Class A)		3,057
	34,574		Acuity Brands, Inc		7,053
	624,796		Adani Enterprises Ltd		1,045
	68,273		Aditya Birla Nuvo Ltd		1,596
	509,900		Advan Co Ltd		5,519
	67,325		Advanced Drainage Systems, Inc		1,474
	459,621	*	Aecom Technology Corp		16,358
	214,889		Aecon Group, Inc		2,774
	142,157	*	Aegion Corp		3,257
	462,395	*	AerCap Holdings NV		21,256
	114,087	*	Aerojet Rocketdyne Holdings, Inc		2,476
	8,450	*	AeroSpace Technology of Korea, Inc		119
	40,109	*,e	Aerovironment, Inc		1,124
	26,996	*,e	AFG Arbonia-Forster Hldg		457
	12,573	e	AG Growth International Inc		478
	1,098,323		AGCO Corp		66,097
	45,417		AIA Engineering Ltd		1,111
	39,299		Aica Kogyo Co Ltd		1,039
	84,400	e	Aichi Corp		652
	66,500		Aida Engineering Ltd		591
	303,998		Air Lease Corp		11,780
	93,121		Aircastle Ltd		2,247
	410,746		Airtac International Group		4,041
	45,534		Alamo Group, Inc		3,469

18

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	90,574		Alarko Holding AS	$	133
	110,734		Albany International Corp (Class A)		5,099
	69,907		Alfa Laval AB		1,318
	3,044,614		Alfa S.A. de C.V. (Class A)		4,456
	6,174	*	Alimak Group		50
	24,696	g	Alimak Group AB		368
	949,371		Allegion plc		71,867
	20,659,665		Alliance Global Group, Inc		5,220
	24,885		Allied Motion Technologies, Inc		500
	699,308		Allison Transmission Holdings, Inc		25,217
	28,875		Alstom Projects India Ltd		261
	80,314	*	Alstom RGPT		2,398
	88,910		Alstom T&D India Ltd		450
	49,480		Altra Holdings, Inc		1,927
	214,136		Amada Co Ltd		2,451
	37,374		Amara Raja Batteries Ltd		512
	43,148	*	Ameresco, Inc		283
	14,481	e	American Railcar Industries, Inc		595
	28,701	*,e	American Superconductor Corp		197
	89,121	*	American Woodmark Corp		8,181
	557,071		Ametek, Inc		30,126
	13,488		Andritz AG.		675
	23,300		Anest Iwata Corp		212
	55,869		Apogee Enterprises, Inc		3,330
	155,905		Applied Industrial Technologies, Inc		9,643
	1,844,254	*	Arabtec Holding Co		448
	53,368		Arcadis NV		841
	4,103	*	Arcam AB		151
	1,020,357		Arconic, Inc		26,876
	94,260		Argan, Inc		6,235
	46,459	*	Armstrong Flooring, Inc		856
	111,491	*	Armstrong World Industries, Inc		5,134
	40,100		Asahi Diamond Industrial Co Ltd		295
	981,132		Asahi Glass Co Ltd		7,960
	93,900	*	Aselsan Elektronik Sanayi Ve Ticaret AS		439
	1,271,511		Ashok Leyland Ltd		1,656
	41,344		Ashoka Buildcon Ltd		125
	2,709,648		Ashtead Group plc		56,088
	870,301		Assa Abloy AB		17,891
	161,673		Astaldi S.p.A.		1,079
	96,578		Astec Industries, Inc		5,939
	23,331		Astral Polytechnik Ltd		197
	53,276	*	Astronics Corp		1,690
	858,016		Asunaro Aoki Construction Co Ltd		6,222
	265,426	*	Atkore International Group, Inc		6,975
	887,937		Atlas Copco AB (A Shares)		31,299
	354,870		Atlas Copco AB (B Shares)		11,273
	61,207	*	ATS Automation Tooling Systems, Inc		625
	3,291,991		Austal Ltd		4,356
	2,730,000	*	AVIC International Holding HK Ltd		158
	2,849,019	e	AviChina Industry & Technology Co		1,977
	86,723		AZZ, Inc		5,160

19

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	57,739		B&B Tools AB	$	1,237
	101,725	*	Babcock & Wilcox Enterprises, Inc		950
	28,828	e	Badger Daylighting Ltd		758
	9,198,466		BAE Systems plc		74,031
	534,077		Balfour Beatty plc		1,801
	44,800		Bando Chemical Industries Ltd		398
	408,000		Baoye Group Co Ltd		296
	868,208		Barloworld Ltd		7,720
	167,721		Barnes Group, Inc		8,611
	26,982		BayWa AG.		890
	139,503		BE Aerospace, Inc		8,944
	53	*,m	Beacon Power Corp		0	^
	137,062	*	Beacon Roofing Supply, Inc		6,738
	573,799		Beijing Enterprises Holdings Ltd		2,970
	200,000	g	Beijing Urban Construction Design & Development Group Co Ltd		125
	8,472		BEML Ltd		178
	17,200,000	e	BEP International Holdings Ltd		953
	2,494,737		Berjaya Corp BHD		214
	1,442,300		Berli Jucker PCL		1,952
	3,103,000		BES Engineering Corp		679
	642,696		Bharat Heavy Electricals		1,611
	868,015	e	Bidvest Group Ltd		9,949
	58,771		Biesse S.p.A.		1,596
	118,694	e	Bird Construction Income Fund		893
	79,155		Bizlink Holdings Inc		450
	10,692	*,e	Blue Bird Corp		183
	21,573		Blue Star Ltd		230
	120,286	*	BMC Stock Holdings, Inc		2,718
	31,251		Bobst Group AG.		2,880
	7,500	e,g	BOC Aviation Ltd		40
	148,392		Bodycote plc		1,481
	1,551,573		Boeing Co		274,411
	237,000	*,e	Boer Power Holdings Ltd		80
	3,173,421	*	Bombardier, Inc		4,868
	73,296		Boskalis Westminster		2,525
	15,416		Bossard Holding AG.		2,758
	255,366		Bouygues S.A.		10,379
	31,622		Brenntag AG.		1,772
	81,992		Briggs & Stratton Corp		1,841
	51		Brookfield Business Partners LP		1
	5,163		Bucher Industries AG.		1,509
	19,456		Budimex S.A.		1,201
	235,291	*	Builders FirstSource, Inc		3,506
	43,200		Bunka Shutter Co Ltd		335
	278,154		Bunzl plc		8,085
	32,454	e	Burckhardt Compression Holding AG.		8,789
	7,421		Burkhalter Holding AG.		1,111
	186,319		BWX Technologies, Inc		8,869
	218,280		Byucksan Corp		767
	323,196		CAE, Inc		4,938
	349,233	*	Caesarstone Sdot-Yam Ltd		12,660
	66,099	*	CAI International, Inc		1,040

20

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	26,042		Carbone Lorraine	$	703
	39,689		Carborundum Universal Ltd		177
	51,204		Cargotec Corp (B Shares)		2,533
	704,647	e	Carillion plc		1,966
	195,286		Carlisle Cos, Inc		20,780
	1,673,262		Caterpillar, Inc		155,212
	666,300		CB Industrial Product Holding BHD		315
	992,327		Central Glass Co Ltd		4,233
	25,827		CENTROTEC Sustainable AG.		495
	2,728		Cera Sanitaryware Ltd		127
	365,225		CH Karnchang PCL		289
	400,000		CH Karnchang PCL (ADR)		317
	128,900		Changchai Co Ltd		75
	60,423	*	Chart Industries, Inc		2,111
	85,869		Cheil Industries, Inc		9,799
	217,951	*	Chemring Group plc		524
	550,300	*,m	Chengde Nanjiang Co Ltd		205
	245,173	e	Chicago Bridge & Iron Co NV		7,539
	558,249		Chicony Power Technology Co Ltd		895
	766,000	e	China Aircraft Leasing Group Holdings Ltd		949
	2,406,000	*,e	China Chengtong Development Group Ltd		167
	4,618,192		China Communications Construction Co Ltd		6,519
	1,752,000		China Conch Venture Holdings Ltd		3,442
	1,572,000	e	China Energine International Holdings Ltd		150
	682,712		China Fangda Group Co Ltd		713
	341,000	e	China High Speed Transmission Equipment Group Co Ltd		386
	894,000		China Lesso Group Holdings Ltd		756
	9,355,000	*,e	China Ocean Shipbuilding Industry Group Ltd		224
	3,663,443		China Railway Construction Corp		5,199
	14,312,127	e	China Railway Group Ltd		12,815
	1,666,680	e	China Singyes Solar Technologies Holdings Ltd		751
	2,006,685		China State Construction International Holdings Ltd		3,592
	12,865,000	*,e	China Strategic Holdings Ltd		242
	53,961		China Yuchai International Ltd		999
	864,800	e	Chip Eng Seng Corp Ltd		451
	121,000	e	Chiyoda Corp		783
	7,900		Chiyoda Integre Co Ltd		169
	17,460,000		Chongqing Machinery & Electric Co Ltd		2,204
	26,800		Chudenko Corp		569
	480,375		Chung Hsin Electric & Machinery Manufacturing Corp		313
	318,808		CIMIC Group Ltd		8,748
	653,985		CIR-Compagnie Industriali Riunite S.p.A.		999
	31,694		CIRCOR International, Inc		1,884
	6,493,796		Citic Pacific Ltd		9,268
	2,269,000	*,e	Citic Resources Holdings Ltd		298
	14,867		CJ Corp		2,313
	3,262,725	e	CK Hutchison Holdings Ltd		40,170
	117,300		CKD Corp		1,487
	4,838,766		CNH Industrial NV		46,573
	3,296,915	e	CNH Industrial NV (NYSE)		31,782
	622,891	e	Cobham plc		1,038
	633,245	*	Colfax Corp		24,861

21

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	75,660		Columbus McKinnon Corp	$	1,878
	328,374		Comfort Systems USA, Inc		12,035
	2,813,377		Compagnie de Saint-Gobain		144,345
	8,238		Compagnie d’Entreprises CFE		1,153
	253,100		COMSYS Holdings Corp		4,539
	69,176		Concentric AB		1,058
	18,610,000		Concord New Energy Group Ltd		947
	252,535	*	Consolidated Infrastructure Group Ltd		388
	14,667		Construcciones y Auxiliar de Ferrocarriles S.A.		561
	299,452	*	Continental Building Products Inc		7,337
	1,001,450		Continental Engineering Corp		365
	1,766		Conzzeta AG.		1,570
	796,600	*,e	Cosco Corp Singapore Ltd		177
	19,385		Cosel Co Ltd		264
	193,275		Costain Group plc		1,116
	128,811		Cramo Oyj (Series B)		2,938
	122,724		Crane Co		9,183
	976,500		CRCC High-Tech Equipment Corp Ltd		455
	766,373	*	Crompton Greaves Ltd		916
	4,489,321		CRRC Corp Ltd		4,365
	4,119		CS Wind Corp		66
	892,590		CSBC Corp Taiwan		419
	28,068	*	CSW Industrials, Inc		1,030
	1,448,000		CTCI Corp		2,529
	49,432		Cubic Corp		2,610
	246,012		Cummins, Inc		37,197
	191,929		Curtiss-Wright Corp		17,515
	31,448		Daelim Industrial Co		2,276
	6,326		Daetwyler Holding AG.		976
	136,105	*	Daewoo Engineering & Construction Co Ltd		882
	46,634		Daewoo International Corp		995
	75,000	*,m	Daewoo Shipbuilding & Marine Engineering Co Ltd		0	^
	71,900		Daifuku Co Ltd		1,798
	73,641		Daihen Corp		479
	219,000		Daiho Corp		1,091
	111,000		Daiichi Jitsugyo Co Ltd		696
	370,305		Daikin Industries Ltd		37,341
	22,600		Daiwa Industries Ltd		235
	99,400		Dalian Refrigeration Co Ltd		78
	10,951	e	Danieli & Co S.p.A.		256
	50,577		Danieli & Co S.p.A. (RSP)		838
	1,980		Dassault Aviation S.A.		2,515
	16,199		Dawonsys Co Ltd		163
	70,982		DCC plc		6,249
	629,420		Deere & Co		68,519
	11,900		Denyo Co Ltd		181
	249,394		Deutz AG.		1,719
	19,226	*,e	Dialight plc		241
	4,373,651		Dialog Group BHD		1,749
	285,273	*	DigitalGlobe, Inc		9,343
	31,059	*	Dilip Buildcon Ltd		167
	237,746		Diploma plc		3,154
	64,470	*	DIRTT Environmental Solutions		339

22

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	29,215		DMC Global, Inc	$	362
	12,592,480		DMCI Holdings, Inc		2,860
	42,050		DMG Mori AG.		2,055
	935,810	*	Dogan Sirketler Grubu Holdings		175
	201,984		Donaldson Co, Inc		9,194
	142,654	e	Dong Yang Gang Chul Co Ltd		602
	7,355		Dongkuk Structures & Construction Co Ltd		39
	21,971	*	Doosan Engine Co Ltd		68
	267,982		Doosan Heavy Industries and Construction Co Ltd		5,742
	215,098	*	Doosan Infracore Co Ltd		1,813
	57,751		Douglas Dynamics, Inc		1,770
	1,623,194		Dover Corp		130,424
	20,745	*	Ducommun, Inc		597
	84,183	e	Duerr AG.		7,512
	49,475	*	DXP Enterprises, Inc		1,874
	60,592	*,e	Dycom Industries, Inc		5,632
	5,017,800		Dynasty Ceramic PCL		619
	4,268		e Tec E&C Ltd		516
	806,541		Eaton Corp		59,805
	68,765		Ebara Corp		2,249
	21,269		Eicher Motors Ltd		8,379
	27,292		Eiffage S.A.		2,136
	17,936		Elbit Systems Ltd		2,052
	2,174		Electra Israel Ltd		433
	563,850	*,e,g	Elementia SAB de C.V.		734
	36,621	e,g	Eltel AB		226
	200,995		EMCOR Group, Inc		12,653
	479,371		Emerson Electric Co		28,695
	1,292,626		Empresa Brasileira de Aeronautica S.A.		7,180
	56,193		Encore Wire Corp		2,585
	5,475,000	*,e	Enerchina Holdings Ltd		148
	29,193	*,e	Energous Corp		455
	65,966	*,e	Energy Recovery, Inc		549
	201,190		EnerSys		15,882
	63,413	*	Engility Holdings, Inc		1,835
	331,429		Engineers India Ltd		735
	63,171		EnPro Industries, Inc		4,495
	4,078,000	e	Enric Energy Equipment Holdings Ltd		2,564
	30,000		EPCO Co Ltd		442
	374,609		Equifax, Inc		51,224
	49,452		ESCO Technologies, Inc		2,873
	42,298		Escorts Ltd		351
	58,590	*	Esterline Technologies Corp		5,042
	737,828		European Aeronautic Defence and Space Co		56,268
	25,404		Exco Technologies Ltd		219
	15,640	*,e	FACC AG.		114
	33,341		Fanuc Ltd		6,864
	588,000		Far East Global Group Ltd		83
	3,365,517		Far Eastern Textile Co Ltd		2,918
	565,831		Fastenal Co		29,140
	9,935,000	*,e	FDG Electric Vehicles Ltd		416
	114,373		Federal Signal Corp		1,579

23

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,945		Feintool International Holding AG.	$	346
	151,569		Fenner plc		556
	407,409		Ferrovial S.A.		8,143
	381,283	*,e	Fincantieri S.p.A		288
	34,499	*	Finetex EnE, Inc		180
	432,572	*	Finmeccanica S.p.A.		6,134
	147,202		Finning International, Inc		2,750
	134,575		Finolex Cables Ltd		1,071
	1,288,000		First Tractor Co		753
	90,139		Flowserve Corp		4,365
	29,788	e	FLSmidth & Co AS		1,591
	379,576		Fluor Corp		19,973
	58,523	*	Fomento de Construcciones y Contratas S.A.		532
	30,700		Force Motors Ltd		2,121
	1,935,375		Fortive Corp		116,548
	712,913		Fortune Brands Home & Security, Inc		43,381
	211,530		Foshan Electrical and Lighting Co Ltd		179
	3,053,624	e	Fosun International		4,594
	20,881	*	Foundation Building Materials, Inc		333
	90,834		Franklin Electric Co, Inc		3,910
	72,674		Freightcar America, Inc		911
	264,300	e	Fudo Tetra Corp		456
	85,540		Fuji Electric Holdings Co Ltd		509
	53,292	e	Fuji Machine Manufacturing Co Ltd		700
	292,078		Fujikura Ltd		2,107
	133,000	e	Fujitec Co Ltd		1,466
	167,000		Fukuda Corp		1,525
	39,100		Fukushima Industries Corp		1,367
	338,000	e	Furukawa Co Ltd		624
	255,200		Furukawa Electric Co Ltd		9,181
	93,919	e	Futaba Corp/Chiba		1,665
	304,661		Galliford Try plc		5,627
	594,494	e	Gamesa Corp Tecnologica S.A.		14,063
	2,120,503		Gamuda BHD		2,483
	81,367	e	GATX Corp		4,960
	87,888		Gayatri Projects Ltd		196
	1,329,150		GEA Group AG.		56,467
	10,531		Geberit AG.		4,538
	10,000		Gecoss Corp		98
	18,989	*	Gencor Industries, Inc		284
	123,798	*	Generac Holdings, Inc		4,615
	94,545	e	General Cable Corp		1,697
	1,011,897		General Dynamics Corp		189,427
	23,322,176		General Electric Co		695,001
	4,578		Georg Fischer AG.		4,162
	7,542		Gesco AG.		201
	164,790	*	Gibraltar Industries, Inc		6,789
	8,700		Giken Seisakusho Co, Inc		169
	172,497		Global Brass & Copper Holdings, Inc		5,934
	104,356		Glory Ltd		3,431
	2,945,706	*	GMR Infrastructure Ltd		726
	41,636	*	GMS, Inc		1,459
	43,643		Gorman-Rupp Co		1,370

24

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	36,889		Graco, Inc	$	3,473
	2,636,617		Grafton Group plc		23,584
	19,230		Graham Corp		442
	103,827		Granite Construction, Inc		5,211
	118,414	*	Great Lakes Dredge & Dock Corp		474
	61,496		Greaves Cotton Ltd		165
	53,158	e	Greenbrier Cos, Inc		2,291
	95,411		Griffon Corp		2,352
	477,684		Grupo Carso S.A. de C.V. (Series A1)		2,193
	132,300	e	Grupo Rotoplas SAB de C.V.		161
	50,699	*	GS Engineering & Construction Corp		1,392
	272,000	e	GS Yuasa Corp		1,270
	2,220,680		Gunkul Engineering PCL		346
	693,859		GWA International Ltd		1,536
	62,213		H&E Equipment Services, Inc		1,525
	799,813		Haitian International Holdings Ltd		1,862
	32,687		Haldex AB		435
	101,186		Halim Co Ltd		369
	219,896		Hangzhou Steam Turbine Co		229
	58,219	*	Hanjin Heavy Industries & Construction Co Ltd		202
	2,429,395		Hanwa Co Ltd		17,297
	116,421		Hanwha Corp		3,738
	34,375		Hanwha Corp		506
	605,000		HAP Seng Consolidated BHD		1,228
	1,912,000		Harbin Power Equipment		1,103
	28,633		Hardinge, Inc		322
	22,100	e	Harmonic Drive Systems, Inc		696
	399,335	*	Harsco Corp		5,092
	236,076		Havells India Ltd		1,693
	777,600		Hazama Ando Corp		5,234
	384,934	*,e	HC2 Holdings, Inc		2,387
	1,019,053	*	HD Supply Holdings, Inc		41,909
	60,120		HEICO Corp		5,242
	135,560		HEICO Corp (Class A)		10,167
	190,393	*,e	Heidelberger Druckmaschinen		475
	246,280	*	Hellenic Technodomiki Tev S.A.		341
	134,150	*	Herc Holdings, Inc		6,559
	50,320	*,e	Hexagon Composites ASA		160
	596,770		Hexcel Corp		32,554
	37,900		Hibiya Engineering Ltd		558
	115,631		Hillenbrand, Inc		4,145
	413,825	*	Hindustan Construction Co		252
	85,020		Hino Motors Ltd		1,031
	4,400	e	Hirata Corp		357
	40,700		Hisaka Works Ltd		336
	21,491		Hitachi Construction Machinery Co Ltd		538
	879,900		Hitachi Zosen Corp		5,023
	246,547		Hiwin Technologies Corp		1,546
	38,109		Hochtief AG.		6,298
	243,635		Hock Seng Lee BHD		93
	4,444,896		Honeywell International, Inc		555,034
	89,000		Hong Leong Industries BHD		188

25

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,444,800		Hopewell Holdings	$	5,431
	54,009		Hoshizaki Electric Co Ltd		4,269
	103,249		Hosken Consolidated Investments Ltd		1,092
	1,020,533		Howden Joinery Group plc		5,544
	2,285,000	*,e	Hsin Chong Construction Group Ltd		103
	91,400	*	Huangshi Dongbei Electrical Appliance Co Ltd		162
	69,379		Hubbell, Inc		8,329
	15,878		Huber & Suhner AG.		1,032
	53,531		Hudaco Industries Ltd		576
	202,974		Huntington Ingalls		40,644
	21,967		Hurco Cos, Inc		683
	7,504		Hy-Lok Corp		147
	17,931		Hyster-Yale Materials Handling, Inc		1,011
	22,818		Hyundai Corp		439
	108,806		Hyundai Development Co		3,958
	11,010		Hyundai Elevator Co Ltd		622
	115,481		Hyundai Engineering & Construction Co Ltd		5,116
	44,586	*,m	Hyundai Heavy Industries		6,576
	8,883	*	Hyundai Mipo Dockyard		705
	20,620	*	Hyundai Rotem Co Ltd		386
	20,400		Idec Corp		223
	50,709		IDEX Corp		4,742
	16,377	*	IES Holdings, Inc		296
	3,087,112		IJM Corp BHD		2,372
	17,307		Iljin Holdings Co Ltd		75
	339,155		Illinois Tool Works, Inc		44,928
	75,916		IMARKETKOREA, Inc		906
	83,567		IMI plc		1,250
	34,052		Implenia AG.		2,390
	152,500		Impregilo S.p.A.		507
	9,024		IMS-Intl Metal Service		217
	55,700		Inaba Denki Sangyo Co Ltd		1,999
	47,600		Inabata & Co Ltd		583
	40,647		Indus Holding AG.		2,625
	44,508		Industria Macchine Automatiche S.p.A.		3,624
	172,405		Industries Qatar QSC		5,229
	74,376		Indutrade AB		1,417
	7,226		Ingersoll-Rand India Ltd		86
	1,691,013		Ingersoll-Rand plc		137,513
	45,839		Insteel Industries, Inc		1,657
	62,975		Interpump Group S.p.A.		1,463
	130,556		Interserve plc		364
	108,476		Invicta Holdings Ltd		475
	77,494		Inwido AB		933
	57,400		Iochpe-Maxion S.A.		306
	210,736		IRB Infrastructure Developers Ltd		767
	29,966		IS Dongseo Co Ltd		1,221
	138,000		Iseki & Co Ltd		283
	1,490		ISGEC Heavy Engineering Ltd		138
	21,826,431	*	Ishikawajima-Harima Heavy Industries Co Ltd		69,041
	1,426,950		Italian-Thai Development PCL		198
	3,029,494		Itochu Corp		43,129
	174,162		ITT, Inc		7,144

26

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	64,128	*	IVRCL Infrastructures & Projects Ltd	$	5
	622,000	e	Iwatani International Corp		3,626
	292,598		Jacobs Engineering Group, Inc		16,175
	3,895,242	*	Jain Irrigation Systems Ltd		5,629
	7,400	e	Jamco Corp		165
	215,604		Japan Pulp & Paper Co Ltd		719
	53,000		Japan Steel Works Ltd		856
	304,914		Jardine Matheson Holdings Ltd		19,588
	217,100		Jardine Strategic Holdings Ltd		9,120
	49,934	*	JELD-WEN Holding, Inc		1,640
	3,070,287		JG Summit Holdings (Series B)		4,978
	33,681		JGC Corp		587
	79,833		John Bean Technologies Corp		7,021
	876,502	g	John Laing Group plc		2,993
	678,576		Johnson Controls International plc		28,582
	879,875		Johnson Electric Holdings Ltd		2,629
	195,380		Joy Global, Inc		5,519
	1,187,991		JTEKT Corp		18,482
	37,218		Jungheinrich AG.		1,235
	2,634		JVM Co Ltd		110
	50,136		Kadant, Inc		2,976
	84,300		Kajaria Ceramics Ltd		757
	1,688,938		Kajima Corp		11,047
	34,749		Kalpataru Power Transmission Ltd		173
	195,000	*	Kama Co Ltd		196
	52,601		Kaman Corp		2,532
	49,700		Kamei Corp		554
	89,500		Kanamoto Co Ltd		2,409
	319,000	e	Kandenko Co Ltd		2,856
	392,000		Kanematsu Corp		706
	1,968,191		KAP Industrial Holdings Ltd		1,312
	4,930		Kardex AG.		482
	18,200		Katakura Industries Co Ltd		228
	94,499	e	Kato Works Co Ltd		2,345
	198,480		Kawasaki Heavy Industries Ltd		603
	510,366		KBR, Inc		7,671
	16,747		KCC Corp		5,307
	54,894		KEC International Ltd		176
	361,146	e	Keihan Electric Railway Co Ltd		2,212
	55,887		Keller Group plc		636
	22,499		Kendrion NV		719
	717,375		Kennametal, Inc		28,143
	10,451		KEPCO Engineering & Construction Co, Inc		259
	1,069,277		Keppel Corp Ltd		5,304
	73,247	*,e	KEYW Holding Corp		691
	74,568		Kier Group plc		1,277
	237,300		Kinden Corp		3,323
	47,000		King Slide Works Co Ltd		674
	466,950		Kingspan Group plc		14,897
	93,000		Kinik Co		226
	149,996		KION Group AG.		9,791
	66,000		Kitz Corp		440

27

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	271,884	*	Kloeckner & Co AG.	$	2,936
	160,542	*	KLX, Inc		7,176
	808,085		KOC Holding AS		3,414
	26,860	*	Koenig & Bauer AG.		1,682
	4,915		Kolon Corp		275
	514,983		Komatsu Ltd		13,489
	2,500		Komax Holding AG.		608
	36,390		Komori Corp		468
	181,862		Kone Oyj (Class B)		7,989
	46,666		Konecranes Oyj		1,656
	178,788		Koninklijke BAM Groep NV		964
	2,114,465		Koninklijke Philips Electronics NV		67,926
	75,180		Korea Aerospace Industries Ltd		3,872
	8,277		Korea Cast Iron Pipe Industries Co Ltd		69
	4,143		Korea Electric Terminal Co Ltd		270
	33,110	*,e	Kornit Digital Ltd		632
	115,269	*,e	Kratos Defense & Security Solutions, Inc		897
	12,655	e	Krones AG.		1,419
	1,245,000	*,e	KuangChi Science Ltd		545
	462,158		Kubota Corp		6,966
	1,100,000		Kumagai Gumi Co Ltd		2,876
	46,934		Kumho Industrial Co Ltd		386
	218,000		Kung Long Batteries Industrial Co Ltd		1,132
	19,798		Kurita Water Industries Ltd		481
	100,470		Kuroda Electric Co Ltd		2,192
	56,938		Kushal Tradelink Ltd		158
	115,200		Kyokuto Kaihatsu Kogyo Co Ltd		1,920
	135,700		Kyowa Exeo Corp		1,970
	44,800	e	Kyudenko Corp		1,221
	4,413		Kyung Dong Navien Co Ltd		128
	469,016		L3 Technologies, Inc		77,524
	2,326		Lakshmi Machine Works Ltd		152
	447,622		Larsen & Toubro Ltd		10,857
	18,101	*	Lawson Products, Inc		406
	37,544	*,e	Layne Christensen Co		332
	49,595		Legrand S.A.		2,986
	53,083	*	Lehto Group Oyj		682
	109,747		Lennox International, Inc		18,361
	107,802		LG Corp		6,771
	26,053		LG Hausys Ltd		2,366
	23,529		LG International Corp		678
	55,946		Lincoln Electric Holdings, Inc		4,859
	52,035		Lindab International AB		442
	20,621	e	Lindsay Corp		1,817
	6,177		Lion Chemtech Co Ltd		92
	36,379		LISI		1,316
	736,165		LIXIL Group Corp		18,710
	531,077		Lockheed Martin Corp		142,116
	1,631,000		Lonking Holdings Ltd		494
	70,574		LS Cable Ltd		4,053
	12,102		LS Industrial Systems Co Ltd		512
	95,664		LSI Industries, Inc		965
	202,000	*,e	Luoyang Glass Co Ltd		145

28

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	32,170	*	Lydall, Inc	$	1,724
	7,785		Mabuchi Motor Co Ltd		439
	28,176		MacDonald Dettwiler & Associates Ltd		1,488
	1,400,500		Maeda Corp		12,417
	12,400		Maeda Kosen Co Ltd		155
	197,000		Maeda Road Construction Co Ltd		3,490
	33,531		Magellan Aerospace Corp		493
	579,507	e	Maire Tecnimont S.p.A		2,161
	80,748		Makino Milling Machine Co Ltd		702
	63,814		Makita Corp		2,238
	2,022,700		Malaysian Resources Corp BHD		778
	23,394		MAN AG.		2,411
	17,084		Manitou BF S.A.		447
	247,766		Manitowoc Co, Inc		1,412
	401,500		Marcopolo S.A.		336
	1,347,558		Marubeni Corp		8,324
	2,277,841		Masco Corp		77,424
	111,326	*	Masonite International Corp		8,823
	160,671	*	Mastec, Inc		6,435
	65,000		Max Co Ltd		863
	793,090		Meggitt plc		4,426
	164,000		Meidensha Corp		583
	4,198,065		Melrose Industries plc		11,729
	173,033	*	Mercury Systems, Inc		6,757
	159,791	*	Meritor, Inc		2,737
	9,100	e	METAWATER Co Ltd		237
	20,189		Metka S.A.		153
	18,625	e	Metso Oyj		564
	71,003		Micron Machinery Co Ltd		2,267
	170,542	*	Middleby Corp		23,270
	26,827	*	Milacron Holdings Corp		499
	22,181		Miller Industries, Inc		584
	334,000		Minebea Co Ltd		4,466
	418,200		Miraito Holdings Corp		4,103
	188,200		MISUMI Group, Inc		3,417
	2,117,887		Mitsubishi Corp		45,900
	805,157		Mitsubishi Electric Corp		11,601
	1,274,913		Mitsubishi Heavy Industries Ltd		5,130
	153,000		Mitsubishi Nichiyu Forklift Co Ltd		984
	40,700		Mitsuboshi Belting Co Ltd		378
	1,859,969		Mitsui & Co Ltd		27,011
	548,000	e	Mitsui Engineering & Shipbuilding Co Ltd		851
	68,000	e	Miura Co Ltd		1,096
	3,138,230		MMC Corp BHD		1,766
	309,374	e	Monadelphous Group Ltd		2,912
	84,600	e	MonotaRO Co Ltd		2,622
	101,794	*	Moog, Inc (Class A)		6,856
	715,205		Morgan Crucible Co plc		2,778
	87,700		Mori Seiki Co Ltd		1,375
	22,400		Morita Holdings Corp		327
	260,730	e	Mota Engil SGPS S.A.		527
	595,382	*	MRC Global, Inc		10,913

29

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	164,361		MSC Industrial Direct Co (Class A)	$	16,890
	106,861		MTU Aero Engines Holding AG.		13,893
	220,396		Mueller Industries, Inc		7,544
	586,857		Mueller Water Products, Inc (Class A)		6,937
	288,900		Muhibbah Engineering M BHD		177
	1,072,705		Murray & Roberts Holdings Ltd		1,231
	141,729	*	MYR Group, Inc		5,811
	56,827		Nabtesco Corp		1,512
	126,332	e	Nachi-Fujikoshi Corp		650
	953,210		Nagarjuna Construction Co		1,203
	84,200		Nagase & Co Ltd		1,176
	98,000		Namura Shipbuilding Co Ltd		586
	380,334		National Central Cooling Co PJSC		197
	9,336	e	National Presto Industries, Inc		954
	122,395	*	Navistar International Corp		3,013
	132,418	e	NCC AB (B Shares)		3,271
	248,113	*	NCI Building Systems, Inc		4,255
	6,000	e	NEC Capital Solutions Ltd		92
	67,906	*	Neff Corp		1,321
	37,989	e	New Flyer Industries, Inc		1,402
	20,099	*	Nexans S.A.		1,040
	46,751		NGK Insulators Ltd		1,061
	293,308		Nibe Industrier AB		2,344
	109,000		Nichias Corp		1,098
	11,300		Nichiden Corp		340
	21,800		Nichiha Corp		642
	96,725		Nidec Corp		9,238
	3,800	e	Nihon Trim Co Ltd		127
	122,000		Nippo Corp		2,319
	25,200		Nippon Densetsu Kogyo Co Ltd		456
	9,500		Nippon Koei Co Ltd		249
	114,000		Nippon Road Co Ltd		524
	282,730	*,e	Nippon Sharyo Ltd		752
	134,300	*,e	Nippon Sheet Glass Co Ltd		977
	72,445		Nippon Steel Trading Co Ltd		3,049
	44,200	e	Nippon Thompson Co Ltd		240
	1,158,000		Nishimatsu Construction Co Ltd		5,703
	14,700		Nishio Rent All Co Ltd		414
	249,300		Nisshinbo Industries, Inc		2,500
	161,000		Nissin Electric Co Ltd		1,866
	15,700		Nitta Corp		439
	379,000		Nitto Boseki Co Ltd		1,889
	20,500		Nitto Kogyo Corp		284
	7,873		Nitto Kohki Co Ltd		181
	20,776		NKT Holding AS		1,524
	52,224	e	NN, Inc		1,316
	7,283,100	*,e	Noble Group Ltd		1,011
	40,805		Nolato AB (B Shares)		1,216
	48,876	*,e	Nordex AG.		683
	187,992		Nordson Corp		23,093
	9,491		Noritake Co Ltd		243
	91,800		Noritz Corp		1,745
	24,703		NORMA Group		1,167

30

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	720,167		Northrop Grumman Corp	$	171,285
	224,934	*	NOW, Inc		3,815
	497,131		NSK Ltd		7,122
	2,359,000		NTN Corp		11,778
	13,922	*	NV5 Holdings, Inc		523
	3,187,924		NWS Holdings Ltd		5,820
	9,700		Obara Corp		431
	2,104,870		Obayashi Corp		19,737
	92,806	e	Obrascon Huarte Lain S.A.		424
	188,082		OC Oerlikon Corp AG.		2,008
	4,446		OHB AG.		98
	125,400		Oiles Corp		2,322
	28,500		Okabe Co Ltd		259
	231,641	e	Okuma Holdings, Inc		2,433
	488,000		Okumura Corp		2,972
	6,304		Omega Flex, Inc		301
	49,687	*	Orascom Construction Ltd		273
	155,463		Orbital ATK, Inc		15,235
	75,000	e	Organo Corp		337
	82,452	*	Orion Marine Group, Inc		616
	59,600	e	OSG Corp		1,219
	189,693		Oshkosh Truck Corp		13,011
	94,900	e	OSJB Holdings Corp		235
	23,616		Osram Licht AG.		1,481
	7,949		Otokar Otobus Karoseri Sanayi AS		259
	2,265,222		Owens Corning, Inc		139,017
	568,767		Paccar, Inc		38,221
	5,202		Palfinger AG.		193
	300,000		Pantaloon Retail India Ltd		140
	971,516		Parker Hannifin Corp		155,753
	38,868	*	Patrick Industries, Inc		2,756
	480,197		Peab AB (Series B)		4,580
	127,003		Pentair plc		7,973
	627,600		Penta-Ocean Construction Co Ltd		3,037
	42,994		PER Aarsleff A.S.		1,028
	346,800		PESTECH International Bhd		129
	22,626	e	Pfeiffer Vacuum Technology AG.		2,848
	94,701	*	PGT, Inc		1,018
	61,640	*	Philips Lighting NV		1,763
	10,033		Pinguely-Haulotte		146
	16,864		Pkc Group Oyj		424
	371,945	*,e	Plug Power, Inc		513
	192,424	*	Ply Gem Holdings, Inc		3,791
	67,130		PNC Infratech Ltd		121
	388,536		Polypipe Group plc		1,852
	34,810		Ponsse Oy		813
	20,241		Porr AG.		752
	17,319		Powell Industries, Inc		596
	6,016		Preformed Line Products Co		314
	78,107		Primoris Services Corp		1,814
	48,886	*	Proto Labs, Inc		2,498
	88,377		Prysmian S.p.A.		2,336

31

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,419,632		PT Adhi Karya Persero Tbk	$	252
	1,931,600		PT AKR Corporindo Tbk		906
	11,525,100		PT Arwana Citramulia Tbk		413
	1,217,100		PT Asahimas Flat Glass Tbk		621
	2,803,600	*,m	PT Inovisi Infracom Tbk		25
	2,479,488		PT Pembangunan Perumahan Tbk		615
	3,633,400	*	PT Sitara Propertindo Tbk		179
	2,865,700		PT Surya Semesta Internusa Tbk		141
	5,340,400		PT Waskita Karya Persero Tbk		950
	2,508,623		PT Wijaya Karya		454
	2,665,351		QinetiQ plc		9,310
	206,142		Quanex Building Products Corp		4,174
	782,214	*	Quanta Services, Inc		29,028
	177,000		Raito Kogyo Co Ltd		1,804
	50,541		Ramirent Oyj		407
	147,713	*	Randon Participacoes S.A.		226
	2,645	e	Rational AG.		1,234
	242,627		Raubex Group Ltd		462
	71,514		Raven Industries, Inc		2,077
	1,128,400		Raytheon Co		172,081
	44,687	*	RBC Bearings, Inc		4,339
	591,917		Rechi Precision Co Ltd		644
	114,326		Regal-Beloit Corp		8,649
	287,016	e	Reliance Worldwide Corp Ltd		632
	444,777		Reunert Ltd		2,387
	21,131	*	REV Group, Inc		583
	381,065		Rexel S.A.		6,904
	243,805	*	Rexnord Corp		5,627
	127,802		Rheinmetall AG.		10,714
	2,373		Rieter Holding AG.		499
	385,394		Rockwell Automation, Inc		60,010
	193,730		Rockwell Collins, Inc		18,823
	5,827		Rockwool International AS (B Shares)		1,032
	1,295,851		Rolls-Royce Group plc		12,242
	683,945		Roper Industries, Inc		141,228
	674,025		Rotork plc		2,055
	17,121	*	Rush Enterprises, Inc		534
	149,065	*	Rush Enterprises, Inc (Class A)		4,931
	183,963		Russel Metals, Inc		3,599
	1,218,000		Ryobi Ltd		5,308
	16,478		S&T Dynamics Co Ltd		136
	49,956	e	Saab AB (Class B)		2,108
	442,409	e	Sacyr Vallehermoso S.A.		1,097
	116,233		Sadbhav Engineering Ltd		546
	215,491		Safran S.A.		16,083
	592,261		Salfacorp S.A.		646
	6,589		Sam Yung Trading Co Ltd		113
	22,057	*	Samho International Co Ltd		337
	225,488	*,e	Samsung Engineering Co Ltd		2,592
	265,143	*	Samsung Heavy Industries Co Ltd		2,657
	36,552		Samsung Techwin Co Ltd		1,539
	103,623		San Shing Fastech Corp		181
	889,108		Sandvik AB		13,281

32

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	34,000		Sanki Engineering Co Ltd	$	293
	50,000		Sanko Gosei Ltd		172
	88,500	e	Sankyo Tateyama, Inc		1,321
	317,900	e	Sanwa Shutter Corp		2,984
	746,000	*,e	Sany Heavy Equipment International		147
	33,000		Sanyo Denki Co Ltd		247
	25,484		Schindler Holding AG.		4,930
	6,937		Schindler Holding AG. (Registered)		1,316
	39,065	*	Schneider Electric Infrastructure Ltd		85
	2,462,775		Schneider Electric S.A.		180,937
	2,298		Schweiter Technologies AG.		2,549
	403,391		Seibu Holdings, Inc		6,673
	121,100		Sekisui Jushi Corp		2,014
	821,083	e	SembCorp Industries Ltd		1,866
	753,600		SembCorp Marine Ltd		1,031
	7,947		Semperit AG. Holding		221
	325,590		Senior plc		840
	2,969	*	Sensata Technologies Holding BV		130
	15,170	*,e	Senvion S.A.		210
	277,675	e	Seven Network Ltd		2,271
	15,098		SFS Group AG.		1,430
	80,464	*,e	SGL Carbon AG.		818
	201,308	*	SGSB Group Co Ltd		206
	90,400	*	Shanghai Automation Instrumentation Co Ltd		128
	11,696,000	*,e	Shanghai Dasheng Agricultural Finance Technology Co Ltd		1,143
	268,780		Shanghai Diesel Engine Co Ltd		219
	3,441,025	*,e	Shanghai Electric Group Co Ltd		1,706
	229,800		Shanghai Highly Group Co Ltd		179
	2,117,508		Shanghai Industrial Holdings Ltd		6,230
	2,100,000		Shanghai Prime Machinery Co Ltd		433
	224,184		Shapir Engineering and Industry Ltd		617
	26,700	e	Shibuya Kogyo Co Ltd		726
	242,254		Shikun & Binui Ltd		587
	18,500	e	Shima Seiki Manufacturing Ltd		698
	290,451		Shimizu Corp		2,608
	120,000		Shin Zu Shing Co Ltd		339
	326,590		Shinmaywa Industries Ltd		3,128
	79,600		Shinnihon Corp		640
	16,900		SHO-BOND Holdings Co Ltd		744
	1,616,423		Siemens AG.		221,405
	119,799		Siemens India Ltd		2,316
	20,992	*	SIF Holding NV		456
	459,246		SIG plc		640
	8,714,860		Sime Darby BHD		18,262
	81,219		Simpson Manufacturing Co, Inc		3,500
	1,500,387		Singapore Technologies Engineering Ltd		4,001
	12,400		Sinko Industries Ltd		178
	599,657		Sino Thai Engineering & Construction PCL		419
	4,812,996		Sinopec Engineering Group Co Ltd		4,942
	2,277,000	e	Sinotruk Hong Kong Ltd		1,710
	839,254		Sintex Industries Ltd		1,367

33

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	32,300		Sintokogio Ltd	$	282
	22,625	*,e	SiteOne Landscape Supply, Inc		1,095
	88,697		SK C&C Co Ltd		19,319
	133,825		SK Networks Co Ltd		894
	885,427	e	Skanska AB (B Shares)		20,839
	86,830	e	SKF AB (B Shares)		1,717
	1,541,200		SKP Resources BHD		442
	32,791	*,e	SLM Solutions Group AG.		1,305
	220,710		SM Investments Corp		3,065
	9,992		SMC Corp		2,962
	333,527		Smiths Group plc		6,777
	184,860		Snap-On, Inc		31,180
	115,100		SNC-Lavalin Group, Inc		4,516
	106,100	e	Sodick Co Ltd		1,049
	2,494,900		Sojitz Holdings Corp		6,270
	8,855		Solar Holdings AS (B Shares)		489
	13,625		Somany Ceramics Ltd		144
	59,576	*	Sparton Corp		1,251
	68,545		SPIE S.A.		1,652
	84,352		Spirax-Sarco Engineering plc		5,043
	437,983		Spirit Aerosystems Holdings, Inc (Class A)		25,368
	264,872	*	SPX Corp		6,423
	376,418	*	SPX FLOW, Inc		13,065
	80,864		Standex International Corp		8,099
	476,282		Stanley Works		63,284
	28,100		Star Micronics Co Ltd		431
	53,484	*	Ste Industrielle d’Aviation Latecoere S.A.		231
	10,738		Sulzer AG.		1,123
	2,152,670		Sumitomo Corp		29,041
	11,400		Sumitomo Densetsu Co Ltd		131
	5,212,813		Sumitomo Heavy Industries Ltd		36,444
	1,565,100		Sumitomo Mitsui Construction C		1,702
	8,360,000	*	Summit Ascent Holdings Ltd		2,831
	46,083		Sun Hydraulics Corp		1,664
	15,197		Sung Kwang Bend Co Ltd		143
	123,917	*,e	Sunrun, Inc		669
	99,000		Sunspring Metal Corp		134
	1,896,722		Sunway Construction Group BHD		754
	181,760		Supreme Industries, Inc		3,682
	1,845,429	*	Suzlon Energy Ltd		543
	125,361		Sweco AB (B Shares)		2,855
	374,000		Syncmold Enterprise Corp		826
	80,400		Tadano Ltd		943
	8,004	*	Taewoong Co Ltd		183
	31,486	*	Taeyoung Engineering & Construction		165
	87,000		Taihei Dengyo Kaisha Ltd		854
	63,100		Taikisha Ltd		1,548
	1,004,096		Taisei Corp		7,343
	956,670	*	Taiwan Glass Industrial Corp		548
	213,493		Takamatsu Corp		5,001
	29,164		Takara Standard Co Ltd		464
	35,400		Takasago Thermal Engineering Co Ltd		499

34

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	93,600		Takeuchi Manufacturing Co Ltd	$	1,759
	89,900		Takuma Co Ltd		883
	173,422	*,e,g	Talgo S.A.		960
	79,206		Tarkett S.A.		3,423
	103,407	*,e	Taser International, Inc		2,357
	30,900		Tatsuta Electric Wire and Cable Co Ltd		141
	2,240,679		Teco Electric and Machinery Co Ltd		2,278
	13,000		Teikoku Sen-I Co Ltd		192
	148,606		Tekfen Holding AS		354
	82,000	e	Tekken Corp		247
	67,687	*	Teledyne Technologies, Inc		8,560
	39,405		Tennant Co		2,863
	2,223,441		Terex Corp		69,816
	44,229		Texmaco Rail & Engineering Ltd		63
	46,807		Textainer Group Holdings Ltd		716
	3,627,112		Textron, Inc		172,614
	153,866		Thales S.A.		14,863
	32,659	*,e	The ExOne Company		333
	41,650		Thermax Ltd		628
	61,192	*	Thermon Group Holdings		1,275
	60,692		THK Co Ltd		1,531
	155,456		Timken Co		7,027
	15,416		Timken India Ltd		153
	85,790		Titan International, Inc		887
	70,736	*	Titan Machinery, Inc		1,085
	94,763		TKH Group NV		4,063
	12,600		Toa Corp/Tokyo		228
	10,700		Tocalo Co Ltd		279
	759,000	e	Toda Corp		4,575
	26,000		Toenec Corp		130
	355,300	e	Tokai Corp		2,737
	389,560		Tokyu Construction Co Ltd		3,068
	200,601		Toro Co		12,530
	108,422		Toromont Industries Ltd		3,794
	769,443	*,e	Toshiba Corp		1,659
	84,964		Toshiba Machine Co Ltd		345
	93,300	e	Toshiba Plant Systems & Services Corp		1,366
	19,600	e	Totetsu Kogyo Co Ltd		564
	71,275	e	Toto Ltd		2,696
	55,900		Toyo Construction Co Ltd		201
	115,000	e	Toyo Engineering Corp		289
	7,300	e	Toyo Tanso Co Ltd		122
	216,936		Toyota Tsusho Corp		6,585
	14,927	*	TPI Composites, Inc		284
	2,009,677		Trakya Cam Sanayi AS		1,748
	115,479	n	TransDigm Group, Inc		25,424
	1,122,454		Travis Perkins plc		21,294
	272,723		Trelleborg AB (B Shares)		5,839
	138,265	e	Trencor Ltd		410
	100,830	*	Trex Co, Inc		6,997
	88,692	*	Trimas Corp		1,840
	160,078		Trinity Industries, Inc		4,250

35

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	115,010		Triton International Ltd	$	2,966
	744,275	e	Triumph Group, Inc		19,165
	64,100		Trusco Nakayama Corp		1,489
	17,700	e	Tsubaki Nakashima Co Ltd		293
	125,000		Tsubakimoto Chain Co		1,046
	41,000		Tsugami Corp		273
	20,900		Tsukishima Kikai Co Ltd		221
	12,200		Tsurumi Manufacturing Co Ltd		179
	516,211		Turk Sise ve Cam Fabrikalari AS		593
	106,228	*	Tutor Perini Corp		3,378
	473,700		UEM Edgenta BHD		349
	54,421		Ultra Electronics Holdings		1,413
	7,300		Union Tool Co		230
	459,100		Unique Engineering & Construction PCL		230
	371,700		United Engineers Ltd		758
	745,000		United Integrated Services Co Ltd		1,640
	377,391	*	United Rentals, Inc		47,193
	713,217		United Technologies Corp		80,030
	280,115	*	Univar, Inc		8,588
	138,679		Universal Forest Products, Inc		13,665
	42,524	e	Uponor Oyj		753
	1,356,254	*,e	USG Corp		43,129
	427,700		Ushio, Inc		5,417
	316,781		Valmet Corp		4,917
	73,574		Valmont Industries, Inc		11,441
	225,100		Vanachai Group PCL		90
	23,494	*	VAT Group AG.		2,559
	62,437	*	Vectrus, Inc		1,395
	23,991	*	Veritiv Corp		1,243
	364,432		Vestas Wind Systems AS		29,643
	188,352		Vesuvius plc		1,228
	87,598		V-Guard Industries Ltd		234
	39,722	*	Vicor Corp		640
	1,009,258		Vinci S.A.		80,144
	928,000	*,e	Vision Fame International Holding Ltd		108
	81,535		Voltas Ltd		518
	39,995		Voltronic Power Technology Corp		534
	539,767	e	Volvo AB (B Shares)		7,963
	8,105	*	Vossloh AG.		515
	125,613		W.W. Grainger, Inc		29,238
	119,270	e	Wabash National Corp		2,468
	266,252	*	WABCO Holdings, Inc		31,263
	21,845		Wacker Construction Equipment AG.		489
	16,023		Wajax Income Fund		276
	29,200		Wakita & Co Ltd		278
	11,665,000		Walsin Lihwa Corp		5,344
	2,223		Walter Meier AG.		100
	31,890		Wartsila Oyj (B Shares)		1,705
	71,971		Watsco, Inc		10,305
	55,628		Watts Water Technologies, Inc (Class A)		3,468
	1,793,012		WCT Berhad		782
	612,818		Weg S.A.		3,406
	1,220,142	e	Weichai Power Co Ltd		2,155

36

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,215,415		Weir Group plc	$	29,237
	1,307,917	*	Welbilt, Inc		25,674
	4,076,000		Welling Holding Ltd		897
	108,530	*	Wesco Aircraft Holdings, Inc		1,237
	45,371	*	WESCO International, Inc		3,156
	95,035	e	Westinghouse Air Brake Technologies Corp		7,413
	8,517	*	Willis Lease Finance Corp		190
	36,482		Wilson Bayly Holmes-Ovcon Ltd		439
	474,581		Wolseley plc		29,880
	105,535		Woodward Governor Co		7,168
	158,078	e	WSP Global, Inc		5,583
	94,112		Xxentria Technology Materials Corp		224
	181,838		Xylem, Inc		9,132
	31,600	e	Yahagi Construction Co Ltd		280
	43,600		YAMABIKO Corp		511
	44,000		Yamazen Corp		397
	5,338,218	e	Yangzijiang Shipbuilding		4,310
	37,345		Yazicilar Holding AS		208
	89,004	e	YIT Oyj		602
	98,600		Yokogawa Bridge Holdings Corp		1,147
	24,800		Yuasa Trading Co Ltd		688
	826,000		Yungtay Engineering Co Ltd		1,432
	154,000		Yurtec Corp		1,060
	6,400	e	Yushin Precision Equipment Co Ltd		168
	156,886		Zardoya Otis S.A.		1,449
	7,819	*	Zehnder Group AG.		255
	191,600		Zhengzhou Coal Mining Machinery Group Co Ltd		124
	601,641		Zhuzhou CSR Times Electric Co Ltd		3,201
	134,126		Zodiac S.A.		3,353
	21,885		Zumtobel AG.		422
			TOTAL CAPITAL GOODS		9,534,423
COMMERCIAL & PROFESSIONAL SERVICES - 0.9%
	46,400	*,e	51job, Inc (ADR)		1,701
	109,643		ABM Industries, Inc		4,780
	223,547	*	Acacia Research (Acacia Technologies)		1,285
	282,963	*	ACCO Brands Corp		3,721
	645,559		Adecco S.A.		45,837
	147,197	*	Advanced Disposal Services, Inc		3,327
	81,150	*	Advisory Board Co		3,798
	15,000		Aeon Delight Co Ltd		472
	122,037		AF AB		2,520
	200,379		Aggreko plc		2,216
	609,906		ALS Ltd		2,861
	10,916		Amadeus Fire AG		887
	121,125		American Banknote S.A.		874
	101,548		Applus Services S.A.		1,219
	26,652	*,e	Aqua Metals, Inc		521
	209,912	*	ARC Document Solutions, Inc		724
	17,492		Assystem		612
	229,602		Atkins WS plc		4,430
	250,274		Babcock International Group		2,765

37

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,926		Barrett Business Services, Inc	$	761
	376,000	*	Beijing Development HK Ltd		70
	26,100	e	Bell System24 Holdings, Inc		227
	11,700	e	Benefit One, Inc		359
	4,416	e	Bertrandt AG.		429
	30,882	*,e	Bilfinger Berger AG.		1,190
	310,529		Blue Label Telecoms Ltd		412
	171,631		Brady Corp (Class A)		6,633
	1,385,006		Brambles Ltd		9,891
	110,130		Bravida Holding AB		713
	170,492		Brink’s Co		9,113
	17,984		Brunel International NV		293
	226,309		Bureau Veritas S.A.		4,770
	85,899		Cabcharge Australia Ltd		198
	96,540		Cape plc		299
	587,411		Capita Group plc		4,154
	4,062,000	*,e	Capital Environment Holdings Ltd		119
	153,783	*	Casella Waste Systems, Inc (Class A)		2,170
	73,624	e	Caverion Corp		580
	345,302	*	CBIZ, Inc		4,679
	63,257		CEB, Inc		4,972
	195,335		Ceco Environmental Corp		2,053
	22,071		Cewe Color Holding AG.		1,933
	2,664,951		China Everbright International Ltd		3,589
	2,180,000	e	China Greenland Broad Greenstate Group Co Ltd		376
	183,772		Cintas Corp		23,254
	142,943	*	Clean Harbors, Inc		7,950
	64,000		Cleanaway Co Ltd		365
	2,275,975		Cleanaway Waste Management Ltd		2,086
	36,614	*,e	Cogint, Inc		170
	3,117		Compx International, Inc		48
	308,100	*	Copart, Inc		19,081
	284,088	e	Covanta Holding Corp		4,460
	33,365		CRA International, Inc		1,179
	187,611		Dai Nippon Printing Co Ltd		2,030
	30,100		Daiseki Co Ltd		616
	134,113		Davis Service Group plc		1,229
	113,295		De La Rue plc		874
	95,925		Deluxe Corp		6,923
	57,904		Derichebourg		289
	2,277,004		Downer EDI Ltd		10,077
	84,526		Dun & Bradstreet Corp		9,124
	29,498		Duskin Co Ltd		644
	360,271	*,m	Dyax Corp		400
	1,058,000	e	Dynagreen Environmental Protection Group Co Ltd		609
	1,245,382		Edenred		29,394
	30,914		Elanders AB		338
	81,604		Elis S.A.		1,604
	17,800		en-japan, Inc		397
	74,769		Ennis, Inc		1,271
	111,025		Essendant, Inc		1,682

38

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,334,558		Experian Group Ltd	$	27,227
	57,270		Exponent, Inc		3,410
	14,317		Fila S.p.A		252
	38,517	*	Franklin Covey Co		778
	103,098	*	FTI Consulting, Inc		4,245
	20,000		Funai Soken Holdings, Inc		354
	15,463,000	*,m	Fung Choi Media Group Ltd		111
	16,873		GL Events		393
	27,330	*	GP Strategies Corp		691
	486,000	*	Greentown Service Group Co Ltd		181
	1,380,985		Group 4 Securicor plc		5,264
	12,156		Groupe CRIT		945
	29,775		Gunnebo AB		149
	6,038,900		Hays plc		11,879
	138,082		Healthcare Services Group		5,950
	84,786		Heidrick & Struggles International, Inc		2,234
	37,248	*	Heritage-Crystal Clean, Inc		510
	176,303		Herman Miller, Inc		5,562
	68,045	*	Hill International, Inc		282
	89,721		HNI Corp		4,135
	518,768		HomeServe plc		3,661
	65,313	*	Huron Consulting Group, Inc		2,750
	64,660	*	ICF International, Inc		2,670
	245,556	*	IHS Markit Ltd		10,301
	3,032	*	Indiabulls Wholesale Service		2
	71,272	*	Innerworkings, Inc		710
	144,447		Insperity, Inc		12,805
	356,255		Interface, Inc		6,787
	216,279		Intertek Group plc		10,646
	32,269	e,g	Intertrust NV		618
	271,097		Intrum Justitia AB		10,120
	76,187		IPH Ltd		283
	212,281		ISS A.S.		8,025
	26,503	e	ITAB Shop Concept AB		210
	29,300		Itoki Corp		185
	1,223,388		IWG plc		4,887
	11,600		JAC Recruitment Co Ltd		189
	2,437		Kaba Holding AG.		1,940
	299,692		KAR Auction Services, Inc		13,088
	57,049		Kelly Services, Inc (Class A)		1,247
	26,237		KEPCO Plant Service & Engineering Co Ltd		1,464
	190,844		Kforce, Inc		4,533
	238,174		Kimball International, Inc (Class B)		3,930
	206,043		Knoll, Inc		4,906
	268,300		Kokuyo Co Ltd		3,469
	112,975		Korn/Ferry International		3,558
	110,000		Kyodo Printing Co Ltd		358
	189,717		Loomis AB		5,999
	135,095		LSC Communications, Inc		3,399
	383,025		Manpower, Inc		39,287
	9,962		Matsuda Sangyo Co Ltd		133
	62,704		Matthews International Corp (Class A)		4,242

39

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	63,051		McGrath RentCorp	$	2,117
	94,400		McMillan Shakespeare Ltd		953
	230,631	*,m	Media General, Inc		0
	38,300		Meitec Corp		1,557
	1,180,751		Michael Page International plc		6,334
	89,757	*	Mistras Group, Inc		1,919
	280,029	e	Mitie Group		778
	13,872		Mitsubishi Pencil Co Ltd		698
	87,239		Mobile Mini, Inc		2,661
	40,707	e	Morneau Sobeco Income Fund		611
	33,200	e	Moshi Moshi Hotline, Inc		327
	95,594		MSA Safety, Inc		6,757
	26,613		Multi-Color Corp		1,889
	172,183	*	Navigant Consulting, Inc		3,936
	692,636		Nielsen NV		28,613
	134,000		Nihon M&A Center, Inc		4,373
	13,400		Nippon Kanzai Co Ltd		216
	154,600		Nippon Parking Development Co Ltd		206
	22,360	e	Nissha Printing Co Ltd		532
	18,343	*	NL Industries, Inc		118
	80,300		Nomura Co Ltd		1,419
	194,900		Okamura Corp		1,734
	217,486	*	On Assignment, Inc		10,555
	9,200	e	Outsourcing, Inc		366
	13,868		Oyo Corp		172
	76,700		Park24 Co Ltd		2,015
	21,900		Pilot Corp		899
	635,139		Pitney Bowes, Inc		8,327
	35,200		Prestige International, Inc		317
	206,220		Programmed Maintenance Services Ltd		295
	600,223		Prosegur Cia de Seguridad S.A.		3,607
	209,690	e	Quad Graphics, Inc		5,293
	560,542	e	Randstad Holdings NV		32,314
	314,000	*,e	Realord Group Holdings Ltd		193
	439,459		Recruit Holdings Co Ltd		22,476
	2,253,578		Rentokil Initial plc		6,970
	602,789		Republic Services, Inc		37,861
	68,175		Resources Connection, Inc		1,142
	85,894		Restore plc		382
	84,938		Ritchie Bros Auctioneers, Inc		2,796
	240,400		Riverstone Holdings Ltd		149
	473,973		Robert Half International, Inc		23,144
	238,410		Rollins, Inc		8,852
	175,126		RPS Group plc		541
	351,412	*	RPX Corp		4,217
	152,177		RR Donnelley & Sons Co		1,843
	20,301		S1 Corp (Korea)		1,629
	21,552		Sato Corp		461
	231,154		Secom Co Ltd		16,610
	288,044		Securitas AB (B Shares)		4,497
	481,213		Seek Ltd		5,851
	854,372	*	Serco Group plc		1,235
	293,975		SG Fleet Group Ltd		764

40

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,367		SGS S.A.	$	11,446
	100,500	m	Shanghai Youngsun Investment C		267
	303,900	*	Shanghai Zhongyida Co Ltd		135
	695,098		Shanks Group plc		832
	169,225		Shenzhen Dongjiang Environmental Co Ltd		293
	122,787		SmartGroup Corp Ltd		619
	37,583		Societe BIC S.A.		4,682
	49,300		Sohgo Security Services Co Ltd		1,847
	53,121	*	SP Plus Corp		1,793
	34,783		Sporton International, Inc		205
	858,523		Spotless Group Holdings Ltd		711
	88,614	e	Stantec, Inc		2,300
	168,599		Steelcase, Inc (Class A)		2,824
	347,086	*	Stericycle, Inc		28,770
	36,000		Sunny Friend Environmental Technology Co Ltd		173
	18,388		Synergie S.A		727
	351,520		Taiwan Secom Co Ltd		1,043
	342,020		Taiwan-Sogo Shinkong Security Corp		452
	90,000	e	Takeei Corp		848
	24,000		Tanseisha Co Ltd		212
	56,933	*,e	Team, Inc		1,540
	26,700		TechnoPro Holdings, Inc		1,034
	59,748		Teleperformance		6,451
	259,900		Temp Holdings Co Ltd		4,873
	209,173		Tetra Tech, Inc		8,545
	290,000		Tianjin Capital Environmental Protection Group Co Ltd		157
	39,500		Toppan Forms Co Ltd		388
	308,669		Toppan Printing Co Ltd		3,155
	22,000		Tosho Printing Co Ltd		101
	111,938	m	Towers Watson & Co		14,652
	144,917		Tox Free Solutions Ltd		258
	186,001		Transcontinental, Inc		3,438
	150,635	*	TransUnion		5,777
	75,473	*	TRC Cos, Inc		1,317
	312,528	*	TriNet Group, Inc		9,032
	318,556	*	TrueBlue, Inc		8,712
	35,950		Unifirst Corp		5,085
	62,826		US Ecology, Inc		2,943
	367,569	*	Verisk Analytics, Inc		29,825
	65,050		Viad Corp		2,940
	18,896		VSE Corp		771
	98,863	*	WageWorks, Inc		7,148
	12		Waste Connections, Inc		1
	1,550,737		Waste Management, Inc		113,080
	152,101		West Corp		3,714
	167,450		Wolters Kluwer NV		6,950
	32,900	e	Yumeshin Holdings Co Ltd		240
	22,700	*	Zhaopin Ltd (ADR)		391
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		1,087,799
CONSUMER DURABLES & APPAREL - 2.1%
	539,000		361 Degrees International Ltd		195

41

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	42,434	*	Accell Group NV	$	1,161
	40,588	*,e	Acushnet Holdings Corp		701
	860,222		Adidas-Salomon AG.		163,642
	20,670	*	Agabang&Company		150
	72,193		Aksa Akrilik Kimya Sanayii		213
	320,800		Alpargatas S.A.		1,260
	32,500		Alpine Electronics, Inc		468
	437,089		Amer Sports Oyj (A Shares)		9,883
	107,635	*,e	American Outdoor Brands Corp		2,132
	2,251,157		AmTRAN Technology Co Ltd		1,640
	4,187,235	e	Anta Sports Products Ltd		11,585
	208,654		Arcelik AS		1,302
	36,200		Arezzo Industria e Comercio S.A.		363
	104,522		Arvind Ltd		636
	117,238		Asics Corp		1,886
	21,632		Bajaj Electricals Ltd		104
	30,468	*	Bang & Olufsen AS (B Shares)		421
	3,366,824		Barratt Developments plc		23,063
	33,018		Bassett Furniture Industries, Inc		888
	329,000		Basso Industry Corp		1,000
	25,706		Bata India Ltd		225
	369,728	*	Beazer Homes USA, Inc		4,485
	10,885,293		Belle International Holdings Ltd		7,080
	361,700		Bellway plc		12,255
	28,983		Beneteau S.A.		381
	507,848		Berkeley Group Holdings plc		20,420
	644,000		Best Pacific International Holdings Ltd		516
	3,042		Bijou Brigitte AG.		188
	140,364	*	Bonava AB		2,052
	2,282,000		Bosideng International Holdings Ltd		197
	145,764		Bovis Homes Group plc		1,545
	71,315		Breville Group Ltd		563
	76,221	*	BRP, Inc		1,794
	71,235	e	Brunello Cucinelli S.p.A		1,698
	94,136		Brunswick Corp		5,761
	315,881		Burberry Group plc		6,817
	1,844,000	*	C.banner International Holdings Ltd		688
	5,467,396	*	Cairn Homes plc		8,574
	165,657		CalAtlantic Group, Inc		6,204
	1,302,055		Callaway Golf Co		14,414
	62,907	*,e	Canada Goose Holdings, Inc		1,004
	152,302		Carter’s, Inc		13,677
	216,115	e	Casio Computer Co Ltd		3,013
	33,435	*	Cavco Industries, Inc		3,892
	25,455		CCC S.A.		1,527
	29,351	*	Century Communities, Inc		746
	25,493,400		China Dongxiang Group Co		4,890
	980,000		China Lilang Ltd		652
	1,131,000	*,m	China Longevity Group Co Ltd		1
	13,700		Chofu Seisakusho Co Ltd		321
	108,488		Christian Dior S.A.		25,183
	851,692		Cie Financiere Richemont S.A.		67,337
	1,106,000	e	Citychamp Watch & Jewellery Group Ltd		236

42

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	101,000		Clarion Co Ltd	$	418
	10,800		Cleanup Corp		80
	715,685		Coach, Inc		29,579
	66,999		Columbia Sportswear Co		3,936
	1,321,500	e	Consorcio ARA, S.A. de C.V.		418
	9,900		Corona Corp		101
	130,100		Corpovael S.A. de C.V.		63
	459,000	e,g	Cosmo Lady China Holdings Co Ltd		138
	900,942		Crest Nicholson Holdings plc		6,120
	143,638	*	CROCS, Inc		1,016
	463,998	*	Crompton Greaves Consumer Electricals Ltd		1,550
	16,280		CSS Industries, Inc		422
	21,360		Culp, Inc		666
	4,272,800		Cyrela Brazil Realty S.A.		18,071
	116,631	*	Deckers Outdoor Corp		6,966
	59,990		De’Longhi S.p.A.		1,744
	14,145	*	Delta Apparel, Inc		249
	6,975		Delta-Galil Industries Ltd		190
	33,690		Descente Ltd		401
	200,000		Direcional Engenharia S.A.		358
	51,057		Dorel Industries, Inc (Class B)		1,218
	1,412,918		DR Horton, Inc		47,064
	63,263		Duni AB		925
	224,793		Eclat Textile Co Ltd		2,253
	1,345,513	e	Electrolux AB (Series B)		37,354
	23,172		Escalade, Inc		299
	47,119		Ethan Allen Interiors, Inc		1,444
	177,100		Even Construtora e Incorporadora S.A.		260
	46,835		Ez Tec Empreendimentos e Participacoes S.A.		288
	690,672		Feng TAY Enterprise Co Ltd		2,752
	11,200	e	Fields Corp		117
	7,715		Fila Korea Ltd		484
	12,401		Flexsteel Industries, Inc		625
	963		Forbo Holding AG.		1,473
	515,852		Formosa Taffeta Co Ltd		551
	210,937		Forus S.A.		842
	81,615	*,e	Fossil Group, Inc		1,424
	18,891		Foster Electric Co Ltd		324
	14,700		France Bed Holdings Co Ltd		122
	339,999	*,e,m	Fuguiniao Co Ltd		169
	67,000		Fujibo Holdings Inc		1,855
	47,000		Fujitsu General Ltd		934
	12,800		Funai Electric Co Ltd		109
	17,726		Gafisa S.A.		154
	201,970		Garmin Ltd		10,323
	61,084	e	Geox S.p.A.		154
	20,249	e	Gerry Weber International AG.		261
	292,439		Giant Manufacturing Co Ltd		1,731
	83,308	*	G-III Apparel Group Ltd		1,824
	362,622		Gildan Activewear, Inc		9,797
	15,034,000	*	Global Brands Group Holding Ltd		1,607
	53,334	*	GNCO Co Ltd		112

43

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,200		Goldwin, Inc	$	221
	621,000	e	Goodbaby International Holding		302
	200,474	*,e	GoPro, Inc		1,744
	56,438	*,e	Green Brick Partners, Inc		562
	6,700		Guararapes Confeccoes S.A.		159
	67,197		GUD Holdings Ltd		608
	511,000		Gunze Ltd		2,090
	1,477,944		Haier Electronics Group Co Ltd		3,387
	10,745		Handsome Co Ltd		272
	976,685	e	Hanesbrands, Inc		20,276
	97,375		Hansae Co Ltd		2,110
	32,954		Hansae Yes24 Holdings Co Ltd		269
	19,694		Hanssem Co Ltd		3,874
	236,553		Hasbro, Inc		23,613
	697,100		Haseko Corp		7,558
	715,648		Hefei Meiling Co Ltd		416
	98,000		Heiwa Corp		2,443
	96,347	*	Helen of Troy Ltd		9,076
	31,100,000	*	HengTen Networks Group Ltd		573
	24,539		Hermes International		11,616
	24,275		Himatsingka Seide Ltd		128
	322,000		Hisense Kelon Electrical Holdings Co Ltd		473
	6,116		Hitachi Home & Life Solutions India Ltd		171
	23,102	*	HLB, Inc		289
	1,890,000	*	HongDa Financial Holding Ltd		68
	58,442		Hooker Furniture Corp		1,815
	574,000	e	Hosa International Ltd		183
	472,856	*	Hovnanian Enterprises, Inc (Class A)		1,073
	12,543		Hugo Boss AG.		915
	528,641	e	Husqvarna AB (B Shares)		4,635
	40,382		Huvis Corp		270
	20,055		Hyundai Livart Furniture Co Ltd		482
	6,109		IC Companys AS		144
	84,358	*	Iconix Brand Group, Inc		634
	251,025		Iida Group Holdings Co Ltd		3,863
	988		Ilshin Spinning Co Ltd		98
	42,050		Indo Count Industries Ltd		128
	56,204	*	Installed Building Products Inc		2,965
	118,449	*,e	iRobot Corp		7,834
	30,309	*,e	Jakks Pacific, Inc		167
	40,300		Japan Wool Textile Co Ltd		318
	89,103	*	Jimmy Choo plc		182
	148,299	*	Jinshan Development & Construction Co Ltd		154
	293,042		JM AB		9,254
	82,430		Johnson Health Tech Co Ltd		122
	9,491		Johnson Outdoors, Inc		346
	109,300	e	JVC KENWOOD Holdings, Inc		285
	407,906	*	Kate Spade & Co		9,476
	204,088	e	KB Home		4,057
	3,067,000		Kinpo Electronics		1,198
	10,800		Kitex Garments Ltd		71
	44,244		KMC Kuei Meng International In		217
	551,800	*	Konka Group Co Ltd		194

44

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	16,382		KPR Mill Ltd	$	167
	354,000		Kurabo Industries Ltd		781
	7,164		Kyungbang Ltd		95
	11,257		LA Opala RG Ltd		93
	422,204		Lao Feng Xiang Co Ltd		1,488
	343,356		La-Z-Boy, Inc		9,271
	638,776		Lealea Enterprise Co Ltd		175
	435,474		Leggett & Platt, Inc		21,913
	28,960		Lennar Corp (B Shares)		1,211
	613,546		Lennar Corp (Class A)		31,407
	114,388		LG Electronics, Inc		6,949
	56,483		LG Fashion Corp		1,132
	30,542	*,e	LGI Homes, Inc		1,036
	46,600		Li Cheng Enterprise Co Ltd		123
	1,116,520	*	Li Ning Co Ltd		656
	528,965	*	Li Peng Enterprise Co Ltd		141
	134,598		Libbey, Inc		1,962
	42,347		Lifetime Brands, Inc		851
	1,662,000		Lisi Group Holdings Ltd		137
	1,381		LPP S.A.		2,365
	249,057	*	Lululemon Athletica, Inc		12,919
	706,950		Luthai Textile Co Ltd		838
	131,266	e	Luxottica Group S.p.A.		7,244
	306,376	e	LVMH Moet Hennessy Louis Vuitton S.A.		67,339
	46,690	*	M/I Homes, Inc		1,144
	143,735		Makalot Industrial Co Ltd		590
	66,834	*	Malibu Boats Inc		1,500
	4,488,400		Man Wah Holdings Ltd		3,565
	6,442	*,m	Mariella Burani S.p.A.		0
	20,314		Marine Products Corp		221
	6,900		Mars Engineering Corp		143
	635,966		Matsushita Electric Industrial Co Ltd		7,197
	6,224,567		Mattel, Inc		159,411
	321,600		MC Group PCL		193
	118,912		MCBC Holdings, Inc		1,923
	80,779		MDC Holdings, Inc		2,427
	223,084		Merida Industry Co Ltd		1,180
	74,657	*	Meritage Homes Corp		2,747
	685,192	*	Michael Kors Holdings Ltd		26,113
	61,800		Misawa Homes Co Ltd		577
	75,000		Mitsui Home Co Ltd		419
	67,000	e	Mizuno Corp		346
	404,912	*	Mohawk Industries, Inc		92,923
	1,265,346		Moncler S.p.A		27,719
	29,446		Movado Group, Inc		735
	1,294,465		MRV Engenharia e Participacoes S.A.		5,938
	7,105		Nacco Industries, Inc (Class A)		496
	263,635		Namco Bandai Holdings, Inc		7,903
	37,000		Nan Liu Enterprise Co Ltd		188
	59,866	*	Nautilus, Inc		1,093
	26,489	*	New Home Co Inc		277
	150,898		New Wave Group AB (B Shares)		1,052

45

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	747,617		Newell Rubbermaid, Inc	$	35,265
	485,129		Nien Hsing Textile Co Ltd		432
	160,000		Nien Made Enterprise Co Ltd		1,492
	3,796,322		Nike, Inc (Class B)		211,569
	78,824		Nikon Corp		1,145
	81,546		Nobia AB		837
	40,281	*	NVR, Inc		84,867
	591,531		Onward Kashiyama Co Ltd		4,064
	905,508		Oriental Weavers		966
	1,238,886	g	OVS S.p.A		7,692
	29,552		Oxford Industries, Inc		1,692
	357,000	*,e,g	Ozner Water International Holding Ltd		91
	619,778	e	Pacific Textile Holdings Ltd		686
	8,468		Page Industries Ltd		1,907
	70,000	e	PanaHome Corp		643
	59,613		Pandora AS		6,598
	402,000	*,m	Peace Mark Holdings Ltd		0
	12,804		Pegas Nonwovens S.A.		416
	55,344	*	Perry Ellis International, Inc		1,189
	445,972		Persimmon plc		11,701
	263,165	*	Peter England Fashions and Retail Ltd		624
	354,896		Phillips-Van Heusen Corp		36,721
	47,552	*	PIK Group (GDR)		234
	239,700	*	Pioneer Corp		477
	8,104,857		Playmates Holdings Ltd		10,663
	44,471	e	Polaris Industries, Inc		3,727
	132,647		Pool Corp		15,829
	2,439,341		Pou Chen Corp		3,376
	11,356,600	e	Prada S.p.A		47,769
	30,900	e	Pressance Corp		372
	50,497,100		PT Sri Rejeki Isman Tbk		1,326
	1,685,378		Pulte Homes, Inc		39,691
	269,000	*	Q Technology Group Co Ltd		201
	160,919		Rajesh Exports Ltd		1,502
	149,537		Ralph Lauren Corp		12,205
	70,806		Raymond Ltd		691
	1,329,972		Redrow plc		8,498
	283,000	e,g	Regina Miracle International Holdings Ltd		218
	24,897		Rinnai Corp		1,983
	420,956		Ruentex Industries Ltd		677
	24,613	*	Safilo Group S.p.A.		175
	68,328	e	Salvatore Ferragamo Italia S.p.A		2,046
	950,000		Sampo Corp		603
	42,300		Sangetsu Co Ltd		709
	70,221		Sankyo Co Ltd		2,352
	23,503		SEB S.A.		3,283
	330,117		Sega Sammy Holdings, Inc		4,440
	113,000	e	Seiko Holdings Corp		461
	978,530		Seiren Co Ltd		14,647
	462,253		Sekisui Chemical Co Ltd		7,793
	2,107,009		Sekisui House Ltd		34,742
	78,674	*,e	Sequential Brands Group, Inc		306
	776,874	m	Servicios Corporativos Javer SAPI de C.V.		710

46

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	344,700		Shanghai Haixin Group Co	$	255
	72,300		Shanghai Kai Kai Industrial Co Ltd		88
	511,929	*,e	Sharp Corp		2,153
	197,300	*	Shenzhen China Bicycle Co Holdings Ltd		105
	588,124		Shenzhou International Group Holdings Ltd		3,712
	12,345		Shimano, Inc		1,808
	7,786		Sioen Industries NV		231
	377,575	*,e	Skechers U.S.A., Inc (Class A)		10,364
	1,588,867		Skyworth Digital Holdings Ltd		1,048
	51,356	*	SodaStream International Ltd		2,487
	6,414,237		Sony Corp		216,470
	199,528	e	Sony Corp (ADR)		6,730
	849,505	*,g	Spin Master Corp		24,715
	11,814		SRF Ltd		296
	9,000	e	SRI Sports Ltd		84
	41,000		Starts Corp, Inc		856
	4,626,254		Steinhoff International Holdings NV		22,130
	1,134,109		Steinhoff International Holdings NV (GR)		5,468
	259,199	*	Steven Madden Ltd		9,992
	36,686	e	Sturm Ruger & Co, Inc		1,965
	358,254		Sumitomo Forestry Co Ltd		5,460
	16,060		Superior Uniform Group, Inc		299
	15,778		Surteco SE		390
	21,058		Swatch Group AG.		7,539
	306,495		Swatch Group AG. (Registered)		21,343
	13,922		Symphony Ltd		328
	842,602		Tainan Spinning Co Ltd		421
	199,600		Taiwan Paiho Ltd		684
	15,100		Tamron Co Ltd		274
	1,673,298	*	Tatung Co Ltd		717
	146,389	*	Taylor Morrison Home Corp		3,121
	4,740,961		Taylor Wimpey plc		11,467
	417,000	*,e	TCL Multimedia Technology Holdings Ltd		225
	195,547	*	Technogym S.p.A		1,305
	1,004,000		Techtronic Industries Co		4,064
	22,197		Ted Baker plc		768
	51,769	e	Telford Homes plc		236
	590,544	*,e	Tempur-Pedic International, Inc		27,437
	1,032,500	e	Texhong Textile Group Ltd		1,380
	550,000		Texwinca Holdings Ltd		370
	271,838		Thomson		1,249
	110,100	g	Thule Group AB		1,847
	438,080		Titan Industries Ltd		3,123
	10,271		Tod’s S.p.A.		804
	25,890		Token Corp		2,035
	360,548	*	Toll Brothers, Inc		13,019
	162,277	*,e	TomTom NV		1,579
	52,468		Tomy Co Ltd		526
	133,246	*	TopBuild Corp		6,263
	58,000		Topkey Corp		203
	74,000		Toung Loong Textile Manufacturing		197
	291,328	*,e	TRI Pointe Homes, Inc		3,653

47

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,782		Trigano S.A.	$	2,481
	54,300		TSI Holdings Co Ltd		392
	169,703		Tsutsumi Jewelry Co Ltd		3,178
	2,369		TTK Prestige Ltd		215
	180,002		Tupperware Corp		11,290
	18,635	*	UCP, Inc (Class A)		189
	336,254	*	Under Armour, Inc		6,153
	376,569	*,e	Under Armour, Inc (Class A)		7,449
	29,965	*	Unifi, Inc		851
	437,000	*	Unitika Ltd		364
	27,425	*	Universal Electronics, Inc		1,879
	59,200	e	Universal Entertainment Corp		1,895
	4,526	e	VAN DE Velde		259
	32,125		Vardhman Textiles Ltd		649
	38,256	*	Vera Bradley, Inc		356
	77,034	*	Vestel Elektronik Sanayi		147
	653,976		VF Corp		35,949
	67,197		Videocon Industries Ltd		107
	44,461	*,e	Vince Holding Corp		69
	140,782	*	Vista Outdoor, Inc		2,899
	317,627		Wacoal Holdings Corp		3,924
	377,500	m	Weiqiao Textile Co		136
	571,396		Welspun India Ltd		773
	15,329		Weyco Group, Inc		430
	209,540		Whirlpool Corp		35,900
	43,444	*	Whirlpool of India Ltd		817
	47,726	*,e	William Lyon Homes, Inc		984
	344,829		Wolverine World Wide, Inc		8,610
	62,035		Woongjin Coway Co Ltd		5,341
	185,831		Wuxi Little Swan Co Ltd		741
	3,257,500	e	XTEP International Holdings		1,283
	26,050		Yamaha Corp		721
	47,000	e	Yondoshi Holdings, Inc		1,050
	36,400	e	Yonex Co Ltd		404
	17,731		Youngone Corp		528
	10,380		Youngone Holdings Co Ltd		488
	507,907	e	Yue Yuen Industrial Holdings		1,996
	604,000	*,e	Yuxing InfoTech Investment Holdings Ltd		112
	69,846	*	Zagg, Inc		503
	167,764		Zeng Hsing Industrial Co Ltd		863
	66,800		Zhonglu Co Ltd		128
	83,800	e	Zojirushi Corp		1,217
			TOTAL CONSUMER DURABLES & APPAREL		2,513,361
CONSUMER SERVICES - 2.1%
	19,400	*	500.com Ltd (ADR)		260
	362,362		888 Holdings plc		1,212
	471,883		AA plc		1,571
	18,313	*	AcadeMedia AB		114
	3,264,214		Accor S.A.		135,772
	16,008,900		Accordia Golf Trust		8,412
	729,472		Advtech Ltd		1,087
	5,500		Aeon Fantasy Co Ltd		143

48

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	106,979	e	Ainsworth Game Technology Ltd	$	150
	1,364,000		Ajisen China Holdings Ltd		525
	1,288,902		Alsea SAB de C.V.		4,295
	160,014	*,e	Amaya, Inc		2,716
	131,000		Ambassador Hotel		101
	29,643	*	American Public Education, Inc		679
	1,779,026		ARAMARK Holdings Corp		65,593
	5,900		ARCLAND SERVICE Co Ltd		162
	2,975,824	*	Arcos Dorados Holdings, Inc		23,955
	353,287		Ardent Leisure Group		494
	2,042,284		Aristocrat Leisure Ltd		28,033
	53,486	*	Ascent Media Corp (Series A)		756
	71,000	e	Atom Corp		464
	98,448		Autogrill S.p.A.		977
	21,197	*,e	Basic-Fit NV		369
	2,071,065	*	Belmond Ltd.		25,060
	154,525	e	Benesse Holdings Inc		4,837
	22,946		Berjaya Sports Toto BHD		15
	16,431		bet-at-home.com AG.		1,838
	89,935		Betsson AB		783
	41,153	*	BJ’s Restaurants, Inc		1,663
	3,205,400	*	Bloomberry Resorts Corp		508
	433,805		Bloomin’ Brands, Inc		8,559
	47,942		Bob Evans Farms, Inc		3,110
	57,221	*,e	Bojangles’, Inc		1,173
	311,957	*	Boyd Gaming Corp		6,866
	79,180	*	Bridgepoint Education, Inc		845
	164,604	*	Bright Horizons Family Solutions		11,932
	281,099	e	Brinker International, Inc		12,357
	7,200		BRONCO BILLY Co Ltd		187
	93,345	*	Buffalo Wild Wings, Inc		14,258
	106,670	*	Caesars Acquisition Co		1,643
	206,984	*,e	Caesars Entertainment Corp		1,977
	644,000		Cafe de Coral Holdings Ltd		2,110
	30,102	*	Cambium Learning Group, Inc		148
	71,623		Capella Education Co		6,090
	80,737		Cara Operations Ltd		1,609
	430,972	*	Career Education Corp		3,749
	1,504,182		Carnival Corp		88,611
	139,044		Carnival plc		7,970
	47,138		Carriage Services, Inc		1,278
	165,760	*	Carrols Restaurant Group, Inc		2,346
	52,773	*	Century Casinos, Inc		399
	89,424		Cheesecake Factory		5,666
	158,551	*,e	Chegg, Inc		1,338
	5,960,000	*,e	China LotSynergy Holdings Ltd		178
	2,202,000	e	China Maple Leaf Educational Systems Ltd		1,661
	392,000	*	China Nuclear Energy Technology Corp Ltd		66
	2,048,000	e	China Travel International Inv HK		619
	147,777	*,e	Chipotle Mexican Grill, Inc (Class A)		65,838
	41,871		Choice Hotels International, Inc		2,621
	28,314		Churchill Downs, Inc		4,498

49

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	30,407	*	Chuy’s Holdings, Inc	$	906
	17,916		Cie des Alpes		371
	52,696		City Lodge Hotels Ltd		602
	186,782		ClubCorp Holdings, Inc		2,998
	687,515	*,e	Codere S.A.		411
	37,252	*,g	Coffee Day Enterprises Ltd		133
	17,973		Collectors Universe		469
	43,700	e	Colowide Co Ltd		733
	1,198,672		Compass Group plc		22,631
	91,399	e	Corporate Travel Management Lt		1,398
	116,159		Cox & Kings India Ltd		414
	37,808	e	Cracker Barrel Old Country Store, Inc		6,021
	34,000	e	Create Restaurants Holdings, Inc		302
	2,194		Credu Corp		73
	501,000		Crown Resorts Ltd		4,520
	105,284	*	Curro Holdings Ltd		384
	361,500		CVC Brasil Operadora e Agencia de Viagens S.A.		3,337
	106,902		Daekyo Co Ltd		770
	130,000		Dahan Development Corp		263
	5,500	e	Daisyo Corp		77
	141,615	*,e	Dalata Hotel Group plc		675
	164,278		Darden Restaurants, Inc		13,745
	104,395	*	Dave & Buster’s Entertainment, Inc		6,378
	80,457	*	Del Frisco’s Restaurant Group, Inc		1,452
	43,480	*	Del Taco Restaurants, Inc		577
	49,633		Delta Corp Ltd		139
	308,809	*	Denny’s Corp		3,820
	124,183		DeVry Education Group, Inc		4,402
	36,471		Dignity plc		1,087
	55,666		DineEquity, Inc		3,029
	4,898	e	DO & CO AG.		318
	127,855	e	Domino’s Pizza Enterprises Ltd		5,676
	1,146,613		Domino’s Pizza Group plc		4,436
	30,962		Domino’s Pizza, Inc		5,706
	5,312,147	e	Donaco International Ltd		1,603
	23,600		Doutor Nichires Holdings Co Ltd		462
	3,372,818	*	Dubai Parks & Resorts PJSC		936
	228,388		Dunkin Brands Group, Inc		12,488
	1,734,800	e	Dynam Japan Holdings Co Ltd		3,082
	136,777		EIH Ltd		254
	38,542	*,e	El Pollo Loco Holdings, Inc		461
	55,971	*,e	Eldorado Resorts, Inc		1,059
	356,390	e,g	Elior Participations S.C.A		8,075
	4,918	*	Emerson Pacific, Inc		141
	805,000		Emperor Entertainment Hotel Ltd		186
	8,666	*	Empire Resorts, Inc		210
	336,399		EnerCare, Inc		5,254
	918,350	*	Enterprise Inns plc		1,562
	1,281,100		Erawan Group PCL		170
	221,500		Estacio Participacoes S.A.		1,123
	15,340	g	Evolution Gaming Group AB		560
	867,053		Extended Stay America, Inc		13,821
	146,940		Famous Brands Ltd		1,704

50

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	51,691	*	Fiesta Restaurant Group, Inc	$	1,251
	55,125	e	Flight Centre Travel Group Ltd		1,216
	514,004	*,e	Fogo De Chao, Inc		8,353
	990		Formosa International Hotels Corp		5
	704,000	e	Fu Shou Yuan International Group Ltd		430
	34,000	e	Fuji Kyuko Co Ltd		301
	53,000	e	Fujita Kanko, Inc		166
	614,268	e	G8 Education Ltd		1,914
	31,800		GAEC Educacao S.A.		136
	2,619,155	e	Galaxy Entertainment Group Ltd		14,346
	2,567,192		Genting BHD		5,564
	4,682,293		Genting Singapore plc		3,414
	359,600		GL Ltd		199
	947,893		Gold Reef Resorts Ltd		1,948
	22,068		Golden Entertainment, Inc		292
	57,000		Gourmet Master Co Ltd		539
	3,646		Graham Holdings Co		2,186
	104,052	*	Grand Canyon Education, Inc		7,451
	25,198		Grand Korea Leisure Co Ltd		493
	98,267	*	Great Canadian Gaming Corp		1,820
	239,851		Greene King plc		2,105
	247,017		GVC Holdings plc		2,270
	597,733		H&R Block, Inc		13,897
	24,647	*,e	Habit Restaurants, Inc		436
	854,000	*,g	Haichang Holdings Ltd		190
	7,177		Hana Tour Service, Inc		511
	13,580		Hiday Hidaka Corp		294
	143,613	*	Hilton Grand Vacations, Inc		4,116
	83,689		Hilton Worldwide Holdings, Inc		4,892
	19,500		Hiramatsu Inc		117
	31,900	e	HIS Co Ltd		748
	753,500	*	Hoteles City Express SAB de C.V.		778
	356,171	*	Houghton Mifflin Harcourt Co		3,615
	194,175		Huangshan Tourism Development Co Ltd		294
	53,506	*	Hyatt Hotels Corp		2,888
	9,900	e	Ichibanya Co Ltd		328
	98,542		IDP Education Ltd		346
	528,199		ILG, Inc		11,071
	485,176		Indian Hotels Co Ltd		948
	78,524	*	InterContinental Hotels Group plc		3,846
	363,472		International Game Technology plc		8,614
	124,784		International Speedway Corp (Class A)		4,611
	97,916	*	Intrawest Resorts Holdings Inc		2,449
	85,973	e	Invocare Ltd		929
	148,824	*	Isle of Capri Casinos, Inc		3,923
	36,210	*	J Alexander’s Holdings, Inc		364
	173,599		Jack in the Box, Inc		17,658
	51,292	*,e	Jackpotjoy plc		353
	24,191	*,e	Jamba, Inc		219
	500,227		Jollibee Foods Corp		1,968
	98,018		Jubilant Foodworks Ltd		1,672
	293,155	*	K12, Inc		5,614

51

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,667	*,e	Kambi Group plc	$	181
	124,170		Kangwon Land, Inc		4,244
	19,800	e	Kappa Create Co Ltd		220
	15,400	e	Kisoji Co Ltd		339
	234,000	*,e	KNT-CT Holdings Co Ltd		291
	29,400		KOMEDA Holdings Co Ltd		474
	16,916	*,e	Kona Grill, Inc		107
	21,800		Koshidaka Holdings Co Ltd		463
	2,420,445		Kroton Educacional S.A.		10,268
	9,300		Kura Corp		390
	22,600	e	Kyoritsu Maintenance Co Ltd		675
	465,283	*	La Quinta Holdings, Inc		6,291
	741,951		Ladbrokes plc		1,201
	1,248,902		Las Vegas Sands Corp		71,275
	59,753	*	Laureate Education, Inc		853
	15,511		Liberty Tax, Inc		221
	27,463	*	Lindblad Expeditions Holdings, Inc		246
	48,051	*	Luby’s, Inc		149
	1,508,000	*,e	Macau Legend Development Ltd		270
	198,000		Magnum BHD		95
	7,351		Mahindra Holidays & Resorts India Ltd		49
	266,840	e	Mantra Group Ltd		595
	93,894		Marcus Corp		3,014
	936,338		Marriott International, Inc (Class A)		88,184
	44,155		Marriott Vacations Worldwide Corp		4,412
	447,080		Marston’s plc		752
	6,800		Matsuya Foods Co Ltd		254
	1,471,600		Max’s Group, Inc		771
	1,393,188		McDonald’s Corp		180,571
	52,253		McDonald’s Holdings Co Japan Ltd		1,526
	15,000		Meiko Network Japan Co Ltd		165
	3,595,427	*	Melco Crown Entertainment Ltd (ADR)		66,659
	39,299,700	*	Melco Crown Philippines Resorts Corp		5,231
	2,378,000		Melco International Development		4,200
	44,586		Melia Hotels International S.A.		613
	1,282,085	g	Merlin Entertainments plc		7,707
	908,207		MGM China Holdings Ltd		1,894
	3,983,633	n	MGM Resorts International		109,152
	1		Minor International PCL (ADR)		0	^
	1,945,916		Minor International PCL (Foreign)		2,081
	160,676		Mitchells & Butlers plc		492
	8,654		Modetour Network, Inc		299
	30,733	*	Monarch Casino & Resort, Inc		908
	18,700	e	MOS Food Services, Inc		546
	31,760		MTY Food Group, Inc		1,192
	9,066	*	Nathan’s Famous, Inc		568
	624,166		Navitas Ltd		2,113
	284,295	*	NET Holding AS		194
	214,713		New Oriental Education & Technology Group (ADR)		12,964
	149,678	*	NH Hoteles S.A.		704
	26,729	*,e	Noodles & Co		154
	52,629	*,e	Nord Anglia Education, Inc		1,334
	555,216	*	Norwegian Cruise Line Holdings Ltd		28,166

52

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,100	e	Ohsho Food Service Corp	$	337
	515,678		OPAP S.A.		4,799
	132,700	e	Oriental Land Co Ltd		7,628
	380,000	e	Overseas Union Enterprise Ltd		581
	15,342		Paddy Power plc		1,650
	67,173		Pandox AB		1,027
	33,010	*,e	Panera Bread Co (Class A)		8,644
	151,280		Papa John’s International, Inc		12,108
	37,319	e	Paradise Co Ltd		460
	1,000,000	*	Parques Reunidos Servicios Centrales SAU		17,922
	209,664	*	Penn National Gaming, Inc		3,864
	4,495	*,e	Pierre & Vacances		207
	310,105	*	Pinnacle Entertainment, Inc		6,053
	59,271		Planet Fitness, Inc		1,142
	83,000	e	Plenus Co Ltd		1,841
	55,075	*	Potbelly Corp		766
	6,878,000		Premium Leisure Corp		215
	318,000		Prestariang BHD		166
	221,082		Rank Group plc		580
	31,086	*	Red Lion Hotels Corp		219
	25,218	*	Red Robin Gourmet Burgers, Inc		1,474
	955,362		Red Rock Resorts, Inc		21,190
	136,874	*	Regis Corp		1,604
	3,028,729		Resorts World BHD		3,729
	110,600		Resorttrust, Inc		1,950
	1,502		Restaurant Brands International LP		84
	1,105,414	e	Restaurant Brands International, Inc		61,616
	248,726		Restaurant Brands International, Inc (Toronto)		13,855
	156,079		Restaurant Group plc		651
	105,742	e	Retail Food Group Ltd		431
	68,076		Rezidor Hotel Group AB		260
	16,400	e	Ringer Hut Co Ltd		337
	53,300		Round One Corp		424
	185,427		Royal Caribbean Cruises Ltd		18,192
	20,500		Royal Holdings Co Ltd		415
	132,462	*	Ruby Tuesday, Inc		372
	200,248		Ruth’s Chris Steak House, Inc		4,015
	48,900		Saizeriya Co Ltd		1,228
	1,883,295	e	Sands China Ltd		8,730
	247,022	*,g	Scandic Hotels Group AB		2,599
	101,925	*	Scientific Games Corp (Class A)		2,411
	131,470		SeaWorld Entertainment, Inc		2,402
	244,700	g	Ser Educacional S.A.		1,602
	396,802		Service Corp International		12,253
	449,278	*	ServiceMaster Global Holdings, Inc		18,757
	30,318	*,e	Shake Shack, Inc		1,013
	3,686,000	e	Shanghai Jinjiang International Hotels Group Co Ltd		973
	58,049		Shanghai Jinjiang International Travel Co Ltd		170
	980,120		Shangri-La Asia Ltd		1,427
	1,539		Shinsegae Food Co Ltd		206
	119,093		Six Flags Entertainment Corp		7,085
	720,148	e	SJM Holdings Ltd		586

53

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	41,235		SkiStar AB (Series B)	$	766
	513,179	e	Sky City Entertainment Group Ltd		1,493
	95,500		Skylark Co Ltd		1,400
	19,938		Sodexho Alliance S.A.		2,343
	210,851	e	Sonic Corp		5,347
	97,584	*	Sotheby’s (Class A)		4,438
	33,289		Speedway Motorsports, Inc		627
	1,446,067		SSP Group plc		7,550
	11,800		St Marc Holdings Co Ltd		347
	609,597		Star Entertainment Grp Ltd		2,547
	4,630,054		Starbucks Corp		270,349
	1,960	*	Steak N Shake Co		847
	20,540		Strayer Education, Inc		1,653
	51,300		Studio Alice Co Ltd		1,057
	87,758		Sun International Ltd		497
	592,045		Tabcorp Holdings Ltd		2,148
	68,668	*	TAL Education Group (ADR)		7,318
	70,800	e	Tarena International, Inc (ADR)		1,323
	1,058,125		Tattersall’s Ltd		3,580
	68,615	*,e	Telepizza Group S.A.		349
	130,679		Texas Roadhouse, Inc (Class A)		5,819
	1,130,661		Thomas Cook Group plc		1,208
	43,776		Thomas Cook India Ltd		157
	67,000		Tokyo Dome Corp		623
	127,000		Tokyotokeiba Co Ltd		294
	19,000		Toridoll.corp		413
	6,100	e	Tosho Co Ltd		259
	9,100		Tsukada Global Holdings Inc		49
	541,760		TUI AG. (DI)		7,502
	29,800	*,e	Tuniu Corp (ADR)		261
	691,951		Unibet Group plc (ADR)		7,168
	56,061		Vail Resorts, Inc		10,758
	16,700		Watami Co Ltd		187
	48,356	*	Weight Watchers International, Inc		753
	320,774		Wendy’s		4,366
	144,959	e	Wetherspoon (J.D.) plc		1,716
	51,638		Whitbread plc		2,562
	273,540		William Hill plc		998
	498,228		Wingstop, Inc		14,090
	48,220		Wowprime Corp		223
	912,990		Wyndham Worldwide Corp		76,956
	4,596,771	e	Wynn Macau Ltd		9,362
	462,499		Wynn Resorts Ltd		53,007
	26,000	e	Yomiuri Land Co Ltd		101
	19,679		Yong Pyong Resort Co Ltd		159
	50,600	e	Yoshinoya D&C Co Ltd		736
	2,699,448	*	Yum China Holdings, Inc		73,425
	1,133,702		Yum! Brands, Inc		72,444
	28,174		Zeal Network SE		796
	179,200	e	Zensho Co Ltd		3,007
	182,000		Zhuhai Holdings Investment Group Ltd		27
	717,939	*,e	Zoe’s Kitchen, Inc		13,282
			TOTAL CONSUMER SERVICES		2,444,392

54

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
DIVERSIFIED FINANCIALS - 3.6%
	1,938,467		3i Group plc	$	18,200
	77,905		ABC Arbitrage		563
	424,096		Aberdeen Asset Management plc		1,407
	23,020		Ackermans & Van Haaren		3,616
	157,550	*,e	Acom Co Ltd		631
	111,500		Aeon Credit Service M BHD		403
	68,348	e	AEON Financial Service Co Ltd		1,291
	133,592	e	Affiliated Managers Group, Inc		21,901
	54,243		AG Mortgage Investment Trust		979
	48,490		AGF Management Ltd		225
	761,904		AGNC Investment Corp		15,154
	244,200	*,e	Aiful Corp		719
	1,121,840		AIRA Capital Co Ltd		81
	65,103		Aker ASA (A Shares)		2,522
	1,905,399		Al Waha Capital PJSC		1,006
	28,270	e	Alaris Royalty Corp		474
	1,135,636		Alexander Forbes Group Holdings Ltd		544
	234,894	*,e	Allied Minds plc		897
	989,360		Ally Financial, Inc		20,114
	63,563		Altamir Amboise		990
	103,168		Altisource Residential Corp		1,573
	1,136,500		Amanat Holdings PJSC		343
	2,091,191		American Express Co		165,434
	1,319,554		Ameriprise Financial, Inc		171,120
	3,525,081		AMP Ltd		13,946
	696,615	e,g	Amundi S.A.		41,088
	1,626,705	g	Anima Holding S.p.A		9,712
	2,144,234		Annaly Capital Management, Inc		23,822
	186,502		Anworth Mortgage Asset Corp		1,035
	419,167		Apollo Commercial Real Estate Finance, Inc		7,885
	1,350,986		ARA Asset Management Ltd		1,719
	120,296		Ares Commercial Real Estate Corp		1,610
	45,673	e	Arlington Asset Investment Corp (Class A)		645
	72,045	e	ARMOUR Residential REIT, Inc		1,636
	227,941		Arrow Global Group plc		1,025
	82,366		Artisan Partners Asset Management, Inc		2,273
	1,219,057	e	Ashmore Group plc		5,398
	12,981	*,m	Asia Pacific Investment Partners Limited		84
	8,429		Associated Capital Group, Inc		305
	88,839	e	Aurelius AG.		3,858
	392,549		Australian Stock Exchange Ltd		15,139
	18,461		Avanza AB		693
	351,231		Ayala Corp		5,914
	2,215	*,m	Ayala Corp Preferred		0	^
	102,129		Azimut Holding S.p.A.		1,773
	20,462		B. Riley Financial, Inc		307
	143,347	*	B2Holding ASA		235
	184,700		Bajaj Finance Ltd		3,331
	51,857		Banca Generali S.p.A		1,355
	103,952		Banca IFIS S.p.A.		3,984

55

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	230,622		Banca Mediolanum S.p.A	$	1,687
	3,399,462	e	Bank of New York Mellon Corp		160,557
	584,440		BGC Partners, Inc (Class A)		6,639
	51,212		BinckBank NV		262
	205,317		BlackRock, Inc		78,741
	450,093		Blackstone Group LP		13,368
	132,212		Blackstone Mortgage Trust, Inc		4,093
	3,005,753		BM&F Bovespa S.A.		18,521
	747,000	e	Bolsa Mexicana de Valores S.A. de C.V.		1,238
	58,240	e	Bolsas y Mercados Espanoles		1,930
	356,804	*,e	Brait S.A.		2,076
	219,525		Brewin Dolphin Holdings plc		859
	382,000	e	Bright Smart Securities & Commodities Group Ltd		126
	918,014		Brookfield Asset Management, Inc		33,446
	526,594		BT Investment Management Ltd		4,022
	191,048		Bure Equity AB		2,088
	633,500		Bursa Malaysia BHD		1,400
	51,952	e	Callidus Capital Corp		706
	95,529	*	Canaccord Financial, Inc		366
	6,893		Capital First Ltd		83
	1,101,108		Capital One Financial Corp		95,422
	1,441,000		Capital Securities Corp		477
	187,772		Capstead Mortgage Corp		1,979
	199,699		CBOE Holdings, Inc		16,190
	82,007		Cembra Money Bank AG.		6,780
	1,011,000	e	Central China Securities Co Ltd		545
	41,001		Century Leasing System, Inc		1,398
	180,099		Cerved Information Solutions S.p.A		1,741
	1,183,123		Chailease Holding Co Ltd		2,765
	697,022		Challenger Financial Services Group Ltd		6,681
	1,718,937		Charles Schwab Corp		70,150
	462,198		Chimera Investment Corp		9,327
	950,000		China Bills Finance Corp		435
	10,787,105		China Cinda Asset Management Co Ltd		4,195
	1,169,125	e	China Everbright Ltd		2,361
	4,190,000	*	China Financial International Investments Ltd		210
	6,157,045	e	China Galaxy Securities Co Ltd		5,686
	7,280,000	*	China Huarong Asset Management Co Ltd		2,981
	1,000,000	*,e	China International Capital Corp Ltd		1,506
	15,280,000	e	China LNG Group Ltd		342
	62,665	e	China Merchants China Direct Investments Ltd		94
	491,789	e	CI Financial Corp		9,774
	2,620,415		CITIC Securities Co Ltd		5,399
	4,975,383		ClearView Wealth Ltd		5,053
	499,846		Close Brothers Group plc		9,635
	93,187	g	CMC Markets plc		141
	1,188,721		CME Group, Inc		141,220
	73,133		Coface S.A.		549
	40,570		Cohen & Steers, Inc		1,622
	242,986		Coronation Fund Managers Ltd		1,146
	14,558		Corp Financiera Alba		683
	167,870		Corp Financiera Colombiana S.A.		1,644
	50,530	*,e	Cowen Group, Inc		755

56

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	75,556	*,e	Credit Acceptance Corp	$	15,067
	22,917		Credit Analysis & Research Ltd		597
	17,220,000	*,e	Credit China Fintech Holdings Ltd		2,327
	69,319	e	Credit Corp Group Ltd		915
	76,264		Credit Saison Co Ltd		1,367
	2,562,512		Credit Suisse Group		38,127
	185,051		Credito Real SAB de C.V.		259
	29,097		CRISIL Ltd		853
	303,158		CYS Investments, Inc		2,410
	466,573		Daewoo Securities Co Ltd		3,774
	168,478		Daishin Securities Co Ltd		1,793
	21,820		Daishin Securities Co Ltd PF		153
	1,875,360		Daiwa Securities Group, Inc		11,442
	11,979		Daou Data Corp		127
	73,289		DeA Capital S.p.A.		122
	1,706,262	*,e	Deutsche Bank AG.		29,332
	270,556	*,e	Deutsche Bank AG.		4,643
	9,482	*	Deutsche Beteiligungs AG.		322
	4,333		Deutsche Boerse AG.		398
	442,824	*	Deutsche Boerse AG. (Tender)		40,584
	8,406		Diamond Hill Investment Group, Inc		1,635
	1,064,000	*,e	Differ Group Holding Co Ltd		123
	811,377		Discover Financial Services		55,490
	99,648	*	Donnelley Financial Solutions, Inc		1,922
	56,348	*,e	Dundee Corp		172
	85,971		Dynex Capital, Inc		610
	3,279,302	*,n	E*TRADE Financial Corp		114,415
	421,219		Eaton Vance Corp		18,938
	551,911		Eclipx Group Ltd		1,649
	371,186	e	ECN Capital Corp		1,002
	769,431		Edelweiss Capital Ltd		1,868
	6,839	e	EFG Financial Products Holding AG.		280
	66,743	e	EFG International		414
	319,844	*	Egyptian Financial Group-Hermes Holding		462
	852,821	e	Element Financial Corp		7,894
	14,820,000	e	Emperor Capital Group Ltd		1,298
	46,913	*,e	Encore Capital Group, Inc		1,445
	168,251	*	Enova International, Inc		2,499
	57,413	*	Eugene Investment & Securities Co Ltd		146
	13,105		Eurazeo		862
	1,130,834	g	Euronext NV		49,310
	229,134		Evercore Partners, Inc (Class A)		17,850
	153,215		EXOR NV		7,922
	166,510	*,e	Ezcorp, Inc (Class A)		1,357
	76,943		Factset Research Systems, Inc		12,689
	4,785,276		Far East Horizon Ltd		4,496
	11,674		FBR & Co		211
	308,645		Federated Investors, Inc (Class B)		8,130
	6,859	e	Ferratum Oyj		137
	33,027		Fiera Capital Corp		342
	105,956		Financial Engines, Inc		4,614
	51,300	e	Financial Products Group Co Ltd		456

57

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,764,785	e	First Pacific Co	$	2,010
	172,760		FirstCash, Inc		8,491
	6,089,731	e	FirstRand Ltd		21,071
	223,816	e	FlexiGroup Ltd		395
	119,939	g	Flow Traders		3,776
	221,163	*	FNFV Group		2,930
	351,610		Franklin Resources, Inc		14,817
	20,360,000	*	Freeman Financial Corp Ltd		1,310
	19,682,461		Fubon Financial Holding Co Ltd		32,103
	24,916,242		Fuhwa Financial Holdings Co Ltd		10,510
	17,300		Fuyo General Lease Co Ltd		777
	71,735		Gain Capital Holdings, Inc		598
	27,530		GAMCO Investors, Inc (Class A)		815
	858,062	e	Gentera SAB de C.V.		1,413
	1,667,800	e	GF Securities Co Ltd		3,496
	21,758		Gimv NV		1,214
	136,613		Gluskin Sheff + Associates, Inc		1,806
	1,114,332		Goldman Sachs Group, Inc		255,984
	5,860,000	*,e	Good Resources Holdings Ltd		313
	71,281		Great Ajax Corp		930
	296,985	*	Green Dot Corp		9,907
	56,204	e	Greenhill & Co, Inc		1,647
	6,856	e	GRENKELEASING AG.		1,210
	47,300		Group Lease PCL		30
	340,600		Group Lease PCL		216
	68,691		Groupe Bruxelles Lambert S.A.		6,234
	452,646		Grupo de Inversiones Suramericana S.A.		6,153
	221,620		Grupo de Inversiones Suramericana S.A. (Preference)		2,945
	121,970		GT Capital Holdings, Inc		2,782
	796,497	*	Gulf General Investment Co		94
	755,500	e	Guolian Securities Co Ltd		411
	8,493,800	e	Guotai Junan International Hol		2,757
	1,019,501		Haci Omer Sabanci Holding AS		2,805
	5,148,562		Haitong Securities Co Ltd		8,710
	18,336		Hankook Tire Worldwide Co Ltd		319
	274,093		Hannon Armstrong Sustainable Infrastructure Capital, Inc		5,537
	89,546	*	Hanwha Securities Co		199
	375,467		Hargreaves Lansdown plc		6,116
	47,821		Hellenic Exchanges S.A.		236
	876,393	e	Henderson Group plc		2,559
	9,789		Hennessy Advisors, Inc		165
	315,200		Hitachi Capital Corp		7,640
	13,962		HMC Investment Securities Co Ltd		135
	89,088	e,g	Hoist Finance AB		780
	1,376,792	e	Hong Kong Exchanges and Clearing Ltd		34,742
	140,806		Houlihan Lokey, Inc		4,851
	580,500	*	Huarong International Financial Holdings Ltd		208
	2,876,800	g	Huatai Securities Co Ltd		5,602
	2,483	*,e	Hypoport AG.		232
	58,400		IBJ Leasing Co Ltd		1,249
	30,300	e	Ichiyoshi Securities Co Ltd		228
	2,656,398		IFCI Ltd		1,213
	1,003,878		IG Group Holdings plc		6,257

58

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	329,128	e	IGM Financial, Inc	$	9,816
	193,051		India Infoline Ltd		1,190
	1,889,820		Indiabulls Housing Finance Ltd		29,037
	18,736		Indiabulls Securities Ltd		17
	107,616		Industrivarden AB		2,329
	188,892		Infrastructure Development Finance Co Ltd		159
	158,357		Interactive Brokers Group, Inc (Class A)		5,498
	708,638		IntercontinentalExchange Group, Inc		42,426
	213,211		Intermediate Capital Group plc		1,889
	198,904		International Personal Finance plc		408
	29,181	*	INTL FCStone, Inc		1,108
	119,486		Inversiones La Construccion S.A.		1,601
	406,533		Invesco Ltd		12,452
	223,288		Invesco Mortgage Capital, Inc		3,443
	275,963		Investec Ltd		1,880
	438,349		Investec plc		2,989
	50,916		Investment AB Kinnevik (B Shares)		1,357
	63,956		Investment AB Oresund		1,070
	82,004		Investment Technology Group, Inc		1,661
	300,917		Investor AB (B Shares)		12,653
	280,148	e	IOOF Holdings Ltd		1,825
	231,729	e	iShares MSCI Canada Index Fund		6,229
	1,243,947		iShares MSCI EAFE Index Fund		77,485
	677,738	e	iShares MSCI Emerging Markets		26,696
	239,300	e	J Trust Co Ltd		2,020
	446,000	e	Jaccs Co Ltd		1,946
	107,517	*	Jafco Co Ltd		3,617
	497,223		Janus Capital Group, Inc		6,563
	1,818,600		Japan Securities Finance Co Ltd		9,685
	1,875,127		Jih Sun Financial Holdings Co Ltd		443
	171,003		JM Financial Ltd		233
	211,131		JSE Ltd		2,028
	169,834		Julius Baer Group Ltd		8,484
	124,263		Julius Baer Holding AG.		1,531
	1,235,150		Jupiter Investment Management Group Ltd		6,590
	236,800		k1 Ventures Ltd		127
	993,900		kabu.com Securities Co Ltd		3,239
	32,233	*	KBC Ancora		1,433
	91,082	*	KCG Holdings, Inc		1,624
	9,000		KIWOOM Securities Co Ltd		655
	45,926		Korea Investment Holdings Co Ltd		1,935
	10,454,400	*	Kresna Graha Investama PT Tbk		317
	12,117		KRUK S.A.		735
	91,600		Krungthai Card PCL		363
	14,463		Kyobo Securities Co		121
	69,100		Kyokuto Securities Co Ltd		993
	359,279		L&T Finance Holdings Ltd		684
	84,426		Ladder Capital Corp		1,219
	290,935	*,e	Ladenburg Thalmann Financial Services, Inc		722
	589,374		Lazard Ltd (Class A)		27,105
	259,895		Legg Mason, Inc		9,385
	842,313	*,e	LendingClub Corp		4,624

59

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	804,533		Leucadia National Corp	$	20,918
	582,184		London Stock Exchange Group plc		23,162
	445,528		LPL Financial Holdings, Inc		17,745
	44,554		Lundbergs AB (B Shares)		3,020
	581,766		Macquarie Group Ltd		40,082
	243,828		Magellan Financial Group Ltd		4,401
	284,581		Mahindra & Mahindra Financial Services Ltd		1,380
	13,517,567		Man Group plc		24,973
	795,971		Manappuram General Finance & Leasing Ltd		1,203
	30,205	e	Manning & Napier, Inc		172
	80,521		MarketAxess Holdings, Inc		15,097
	15,200		Marlin Business Services Corp		391
	36,700	*,e	Marusan Securities Co Ltd		303
	19,062,399	*,e	Mason Financial Holdings Ltd		277
	953,401		Masterlink Securities Corp		279
	245,100	e	Matsui Securities Co Ltd		1,921
	20,838		Medley Management, Inc		173
	34,896	e	Meritz finance Holdings Co Ltd		379
	940,540		Meritz Securities Co Ltd		3,134
	22,914,206		Metro Pacific Investments Corp		2,748
	891,805		MFA Mortgage Investments, Inc		7,206
	84,000		MIN XIN Holdings Ltd		68
	1,972,751		Mitsubishi UFJ Lease & Finance Co Ltd		9,859
	45,168		MLP AG.		261
	115,317		Moelis & Co		4,440
	1,001,600	e	Monex Beans Holdings, Inc		2,402
	393,899		Moody’s Corp		44,132
	8,277,155		Morgan Stanley		354,593
	76,350		Morningstar, Inc		6,001
	53,390		Motilal Oswal Financial Services Ltd		597
	211,224		MSCI, Inc (Class A)		20,529
	137,609		MTGE Investment Corp		2,305
	462,000		Muangthai Leasing PCL		417
	14,191		Multi Commodity Exchange of India Ltd		263
	143,983		Muthoot Finance Ltd		818
	272,748		NASDAQ OMX Group, Inc		18,942
	888,626		Navient Corp		13,116
	75,505		Nelnet, Inc (Class A)		3,312
	1,108,665		New Residential Investment Corp		18,825
	214,835	e	New York Mortgage Trust, Inc		1,326
	71,198		NewStar Financial, Inc		753
	489,053		NEX Group plc		3,483
	12,775		NICE Holdings Co Ltd		198
	28,422		NICE Information Service Co Ltd		197
	20,700	*,e	Noah Holdings Ltd (ADR)		525
	3,372,339		Nomura Holdings, Inc		20,876
	327,778		Northern Trust Corp		28,379
	3,417,866	e	NZX Ltd		2,585
	113,000		Okasan Holdings, Inc		690
	529,804		OM Asset Management plc		8,011
	127,743	*,e	On Deck Capital, Inc		644
	119,943	*	OneMain Holdings, Inc		2,981
	84,220		Onex Corp		6,045

60

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	21,213		Oppenheimer Holdings, Inc	$	363
	56,035	e	Orchid Island Capital, Inc		560
	382,800	e	Orient Corp		693
	2,420,876		ORIX Corp		35,932
	407,562		Osaka Securities Exchange Co Ltd		5,814
	654,175		OSK Holdings BHD		234
	19,637		Owens Realty Mortgage, Inc		350
	194,546	e	OzForex Group Ltd		219
	65,721		P2P Global Investments plc		633
	9,463		Pargesa Holding S.A.		669
	8,717		Partners Group		4,685
	133,388		PennyMac Mortgage Investment Trust		2,368
	502,884		Peregrine Holdings Ltd		1,034
	517,000	*,m	Peregrine Investment Holdings		0
	168,168		Perpetual Trustees Australia Ltd		6,699
	42,727	*	Pico Holdings, Inc		598
	147,853	*	Pioneers Holding		83
	58,382		Piper Jaffray Cos		3,728
	34,605		PJT Partners, Inc		1,214
	499,270		Platinum Asset Mangement Ltd		1,957
	563,533	e	Plus500 Ltd		2,965
	1,246,069		Power Finance Corp Ltd		2,800
	91,249	*	PRA Group, Inc		3,025
	1,023,289		President Securities Corp		450
	118,343		Provident Financial plc		4,447
	100,672		PSG Group Ltd		1,850
	128,527		PTC India Financial Services Ltd		82
	106,649		Pzena Investment Management, Inc (Class A)		1,049
	16,390		Qatar Industrial Manufacturing Co		197
	147,803	e	Ratos AB (B Shares)		695
	294,363		Raymond James Financial, Inc		22,448
	197,907		Redwood Trust, Inc		3,287
	20,909	*	Regional Management Corp		406
	243,144		Reliance Capital Ltd		2,304
	599,279	e	Remgro Ltd		9,195
	38,027		Repco Home Finance Ltd		411
	58,977		Resource Capital Corp		576
	53,697	*,e	Resurs Holding AB		313
	28,900		Ricoh Leasing Co Ltd		929
	1,325,461	e	RMB Holdings Ltd		5,785
	767,621		S&P Global, Inc		100,359
	78,117	*	Safeguard Scientifics, Inc		992
	95,838		Salam International Investment Co		277
	169,399		Samsung Card Co		5,941
	80,557		Samsung Securities Co Ltd		2,425
	502,209	*	Santander Consumer USA Holdings, Inc		6,689
	251,900	*,e	Sawada Holdings Co Ltd		2,301
	655,744		SBI Holdings, Inc		9,163
	217,108		Schroders plc		8,240
	398,352		SEI Investments Co		20,093
	5	*,m	SFCG Co Ltd		0
	300,000		Shenyin Wanguo HK Ltd		128

61

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,235		Shinyoung Securities Co Ltd	$	412
	460,120		Shriram Transport Finance Co Ltd		7,639
	14,712		Silvercrest Asset Management Group, Inc		196
	1,403,227		Singapore Exchange Ltd		7,724
	227,567	*	SK Securities Co Ltd		242
	13,722	*	SKS Microfinance Pvt Ltd		171
	1,155,097	*	SLM Corp		13,977
	768,475	*,e,m	SNS Reaal		8
	5,550		Societe Fonciere Financiere et de Participations FFP		533
	19,472		Sofina S.A.		2,697
	72,300	e	Sparx Group Co Ltd		137
	9,200		SPDR Trust Series 1		2,169
	209,719	e	Sprott, Inc		352
	119,203		SREI Infrastructure Finance Ltd		152
	430,461		Srisawad Power 1979 PCL		542
	837,274		Starwood Property Trust, Inc		18,906
	1,466,136		State Street Corp		116,719
	131,077	*	Stifel Financial Corp		6,579
	4,940,000		Sun Hung Kai & Co Ltd		3,242
	38,431		Sundaram Finance Ltd		956
	48,751	*	SVG Capital plc		440
	6,756	e	Swissquote Group Holding S.A.		183
	2,977,439		Synchrony Financial		102,126
	1,169,093		T Rowe Price Group, Inc		79,674
	2,624,730	e	Tai Fook Securities Group Ltd		1,544
	265,000		Taiwan Acceptance Corp		768
	57,379		Tamburi Investment Partners S.p.A.		283
	13,197		Tata Investment Corp Ltd		129
	538,176		TD Ameritrade Holding Corp		20,914
	691,196		Thomson Corp		29,880
	427,763		Thomson Corp (Toronto)		18,499
	73,937		Tiptree Financial, Inc		540
	76,123		TMX Group Ltd		3,859
	267,380		Tokai Tokyo Securities Co Ltd		1,395
	87,242	*	Tong Yang Investment Bank		265
	278,172		Transaction Capital Ltd		313
	409,516		Tullett Prebon plc		2,383
	1,062,949		Two Harbors Investment Corp		10,194
	2,907,691		UBS AG.		46,478
	446,800		Unifin Financiera SAPI de C.V. SOFOM ENR		1,136
	1,071,687		UOB-Kay Hian Holdings Ltd		1,069
	92,409	*	Uranium Participation Corp		282
	2,516	e	Value Line, Inc		43
	791,000	e	Value Partners Group Ltd		754
	51,579	e	Virtu Financial, Inc		877
	9,653		Virtus Investment Partners, Inc		1,022
	80,205		Vontobel Holding AG.		4,588
	217,301		Voya Financial, Inc		8,249
	2,158		VZ Holding AG.		592
	211,997	e	Waddell & Reed Financial, Inc (Class A)		3,604
	43,985		Warsaw Stock Exchange		492
	3,259,952		Waterland Financial Holdings		999
	31,136		Wendel		3,943

62

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	83,488		Western Asset Mortgage Capital Corp	$	816
	24,785		Westwood Holdings Group, Inc		1,324
	2,420	*,e	Wins Finance Holdings, Inc		351
	225,528	e	WisdomTree Investments, Inc		2,048
	9,517		Woori Financial Co Ltd		209
	154,029		Woori Investment & Securities Co Ltd		1,729
	12,269	*,e	World Acceptance Corp		635
	1,401,517		Zeder Investments Ltd		810
	126,500		Zenkoku Hosho Co Ltd		4,322
			TOTAL DIVERSIFIED FINANCIALS		4,205,176
ENERGY - 6.6%
	482,185	*	Abraxas Petroleum Corp		974
	5,745		Adams Resources & Energy, Inc		215
	45,956,404		Adaro Energy Tbk		6,036
	142,620	*	Advantage Oil & Gas Ltd		942
	66,930		Aegis Logistics Ltd		201
	117,918	*,e	Akastor ASA		178
	234,120	e	Aker BP ASA		3,757
	116,871	*	Aker Solutions ASA		705
	107,389	e	Alon USA Energy, Inc		1,309
	146,093	e	AltaGas Income Trust		3,384
	1,043,024		AMEC plc		6,976
	695,572	*,e	Amerisur Resources plc		183
	1,017,880		Anadarko Petroleum Corp		63,109
	212,710	*	Antero Resources Corp		4,852
	1,094,000	*	Anton Oilfield Services Group		130
	100,000		AOC Holdings, Inc		338
	849,117		Apache Corp		43,636
	1,216,887	e	ARC Resources Ltd		17,386
	82,010	*,e	Arch Coal, Inc		5,654
	183,889		Archrock, Inc		2,280
	53,288	e	Ardmore Shipping Corp		429
	688,430	*	Athabasca Oil Corp		792
	195,812	*,e	Atwood Oceanics, Inc		1,866
	1,420,555	*,e	Australian Worldwide Exploration Ltd		537
	1,606,103		Baker Hughes, Inc		96,077
	327,700		Bangchak Petroleum PCL-Foreign		315
	2,666,510		Banpu PCL (Foreign)		1,537
	715,364	*,e	Baytex Energy Trust		2,442
	4,861,009		Beach Petroleum Ltd		2,969
	896,933		Bharat Petroleum Corp Ltd		8,977
	1,028,448	*	Bill Barrett Corp		4,679
	173,108		Birchcliff Energy Ltd		984
	668,293		Bonavista Energy Trust		1,739
	69,754		Bonterra Oil & Gas Ltd		1,203
	20,628	e	Bourbon S.A.		219
	210,927		Boustead Singapore Ltd		131
	22,906,751		BP plc		131,854
	522,067		BP plc (ADR)		18,022
	6,934,000		Brightoil Petroleum Holdings Ltd		1,989
	67,525	e	Bristow Group, Inc		1,027

63

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,022,500		Bumi Armada BHD	$	343
	63,701	e,g	BW LPG Ltd		324
	857,327	*,e	BW Offshore Ltd		2,093
	530,341		Cabot Oil & Gas Corp		12,680
	445,877	*	Cairn Energy plc		1,144
	853,991		Cairn India Ltd		4,023
	64,351	*,e	California Resources Corp		968
	736,893	*	Callon Petroleum Co		9,698
	720,951		Caltex Australia Ltd		16,244
	280,615	e	Cameco Corp (Toronto)		3,106
	226,698	*,e	Canacol Energy Ltd		670
	230,163		Canadian Energy Services & Technology Corp		1,262
	1,883,496	*	Canadian Natural Resources Ltd (Canada)		61,667
	67,110	*	Canyon Services Group, Inc		336
	45,561	*,e	CARBO Ceramics, Inc		594
	170,181	e	Cardinal Energy Ltd		934
	193,341	*	Carrizo Oil & Gas, Inc		5,541
	2,548,388		Cenovus Energy, Inc		28,797
	2,480,063		Cenovus Energy, Inc (Toronto)		28,067
	15,653	*,e	CGG S.A.		110
	432,548	*,e	Cheniere Energy, Inc		20,447
	138,040		Chennai Petroleum Corp Ltd		772
	1,313,199	*,e	Chesapeake Energy Corp		7,800
	5,493,574		Chevron Corp		589,845
	3,980,419	e	China Coal Energy Co		2,009
	2,249,826	e	China Oilfield Services Ltd		2,161
	8,369,795		China Shenhua Energy Co Ltd		19,474
	9,300,000	e	China Suntien Green Energy Cor		1,797
	238,388		Cimarex Energy Co		28,485
	11,140	*	Clayton Williams Energy, Inc		1,471
	1,034,454	*	Clean Energy Fuels Corp		2,638
	25,465,646		CNOOC Ltd		30,440
	1,516,355		Coal India Ltd		6,834
	802,776	*	Cobalt International Energy, Inc		428
	2,583,833	*	Concho Resources, Inc		331,609
	1,538,286		ConocoPhillips		76,714
	543,635	*	Consol Energy, Inc		9,122
	120,004	*	Contango Oil & Gas Co		878
	2,527,157	*,e,n	Continental Resources, Inc		114,783
	2,511	e	Core Laboratories NV		290
	334,528		Cosan SA Industria e Comercio		4,152
	232,000		Cosmo Energy Holdings Co Ltd		3,999
	346,402	e	Crescent Point Energy Corp		3,743
	115,155	*	Crew Energy, Inc		429
	29,455	e	CVR Energy, Inc		591
	2,901,685	*	Dana Gas PJSC		332
	65,529	*	Dawson Geophysical Co		364
	3,301		Delek Group Ltd		792
	1,375,619		Delek US Holdings, Inc		33,386
	901,815	*,e	Denbury Resources, Inc		2,327
	360,621	*,e	Denison Mines Corp		222
	638,486		Devon Energy Corp		26,638
	512,330		DHT Holdings, Inc		2,290

64

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	231,345	*,e	Diamond Offshore Drilling, Inc	$	3,866
	1,273,504	*	Diamondback Energy, Inc		132,081
	502,384	*,e	DNO International ASA		424
	50,569	*,e	Dorian LPG Ltd		532
	100,492	*,e	Dril-Quip, Inc		5,482
	3,892	*,e	Earthstone Energy, Inc		50
	394,307	*	Eclipse Resources Corp		1,002
	11,484,108	*	Ecopetrol S.A.		5,393
	441,800		Empresas COPEC S.A.		4,802
	193,300		Enagas		5,015
	269,793	e	Enbridge Income Fund		6,725
	2,810,485		Enbridge, Inc		117,737
	217,233		Enbridge, Inc		9,089
	1,714,194		EnCana Corp		20,083
	128,707		Enerflex Ltd		1,837
	502,072	*	Energen Corp		27,333
	1,334,014		Energy Absolute PCL (Foreign)		1,077
	1,168,600		Energy Earth PCL		152
	1,053,134	*,e	Energy Resources of Australia Ltd		579
	842,076		Enerplus Resources Fund		6,782
	2,835,040		ENI S.p.A.		46,419
	2,134,816	*	Enquest plc (London)		1,130
	744,943		Ensco plc		6,667
	279,945		Ensign Energy Services, Inc		1,678
	311,606		Enterprise Products Partners LP		8,603
	5,151,182		EOG Resources, Inc		502,498
	621,805	*,e	EP Energy Corp		2,954
	282,000		EQT Corp		17,230
	50,174	*	Era Group, Inc		665
	42,763	*,e	Erin Energy Corp		103
	2,233	*	Esso SA Francaise		99
	8,700,500	*	Esso Thailand PCL (Foreign)		2,785
	30,170	*	Etablissements Maurel et Prom		107
	98,964		Euronav NV		790
	45,810		Evolution Petroleum Corp		366
	23,863		Exmar NV		184
	137,008	*	Exterran Corp		4,309
	80,703	*,e	Extraction Oil & Gas, Inc		1,497
	242,885	e	Exxaro Resources Ltd		2,133
	10,290,084	d	Exxon Mobil Corp		843,890
	1,311,897	*,e	Ezion Holdings Ltd		333
	240,490	*,e	Fairmount Santrol Holdings, Inc		1,763
	250,020	*	Faroe Petroleum plc		313
	4,600,825		Formosa Petrochemical Corp		16,071
	116,398	*	Forum Energy Technologies, Inc		2,409
	133,540		Frank’s International NV		1,412
	72,974	e	Freehold Royalty Trust		740
	132,723	e	Frontline Ltd		895
	59,398		Frontline Ltd (Sigmax MTF)		398
	59,294	*	Fugro NV		924
	468,355		Galp Energia SGPS S.A.		7,104
	216,466	e	GasLog Ltd		3,323

65

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,561,636		Gazprom OAO (ADR)	$	38,329
	75,667		Gazpromneft OAO (ADR)		1,360
	60,733		Gaztransport Et Technigaz S.A.		2,282
	77,897	*,e	Gener8 Maritime, Inc		442
	7,225,000	*	Genesis Energy Holdings Ltd		175
	25,045	*	Geospace Technologies Corp		406
	110,077	e	Gibson Energy, Inc		1,581
	248,968	e	Golar LNG Ltd		6,954
	160,000	*,e	Gran Tierra Energy, Inc		422
	126,704		Great Eastern Shipping Co Ltd		814
	158,899		Green Plains Renewable Energy, Inc		3,933
	325,186	*	Grupa Lotos S.A.		4,484
	120,191		GS Holdings Corp		6,355
	131,044		Gujarat Mineral Development Corp Ltd		247
	40,995		Gulf International Services OSC		318
	313,029	*	Gulfport Energy Corp		5,381
	2,220,243		Halliburton Co		109,258
	313		Hankook Shell Oil Co Ltd		111
	350,088	*	Helix Energy Solutions Group, Inc		2,720
	117,773	*	Hellenic Petroleum S.A.		646
	240,884	e	Helmerich & Payne, Inc		16,036
	506,507		Hess Corp		24,419
	601,000	e	Hilong Holding Ltd		132
	983,193		Hindustan Petroleum Corp Ltd		7,960
	35,951	e	Hoegh LNG Holdings Ltd		369
	289,635		HollyFrontier Corp		8,208
	1,545,000	*	Honghua Group Ltd		161
	107,898		Hunting plc		767
	606,168	*,e	Hurricane Energy plc		431
	362,826	*	Husky Energy, Inc		4,095
	160,994		Idemitsu Kosan Co Ltd		5,604
	427,743		Imperial Oil Ltd		13,033
	305,018	*	Independence Contract Drilling, Inc		1,681
	869,100		Inner Mongolia Yitai Coal Co		966
	988,548		Inpex Holdings, Inc		9,748
	832,852		Inter Pipeline Ltd		17,554
	81,330	*	International Seaways, Inc		1,555
	19,289,107		IRPC PCL (Foreign)		2,891
	1,657	*,e	Isramco, Inc		194
	256,794	*	Ithaca Energy, Inc		373
	81,553		Itochu Enex Co Ltd		675
	861,923	*,e	Jagged Peak Energy, Inc		11,239
	5,100	e	Japan Drilling Co Ltd		108
	68,700	e	Japan Petroleum Exploration Co		1,577
	10,853	*	Jerusalem Oil Exploration		552
	1,087,227		John Wood Group plc		10,386
	102,412	*,e	Jones Energy, Inc (Class A)		261
	3,101,748		JX Holdings, Inc		15,272
	163,355	*,e	Karoon Gas Australia Ltd		205
	53,060	*	Keane Group, Inc		759
	122,563	*	Kelt Exploration Ltd		616
	357,109		Keyera Corp		10,475
	7,136,532		Kinder Morgan, Inc		155,148

66

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	84,398		Koninklijke Vopak NV	$	3,676
	174,022	*,e	Kosmos Energy LLC		1,159
	338,853	*	Laredo Petroleum Holdings, Inc		4,947
	364,614	*,e	Liquefied Natural Gas Ltd		181
	10,289		Lubelski Wegiel Bogdanka S.A.		198
	761,734		LUKOIL PJSC (ADR)		40,380
	190,095	*	Lundin Petroleum AB		3,858
	302,300	*	Malaysia Marine and Heavy Engineering Sdn BHD		66
	18,897	*	Mammoth Energy Services, Inc		406
	1,688,959		Marathon Oil Corp		26,686
	814,535		Marathon Petroleum Corp		41,167
	3,248,530	*,e	Matador Resources Co		77,283
	100,234	*	Matrix Service Co		1,654
	2,036,679	*,e	McDermott International, Inc		13,748
	6,000,875	*,e	MEG Energy Corp		30,414
	848,000	*,e	MIE Holdings Corp		80
	121,000	e	Modec, Inc		2,581
	109,611		MOL Hungarian Oil and Gas plc		7,505
	219,629		Motor Oil Hellas Corinth Refineries S.A.		3,747
	207,500		Mullen Group Ltd		2,637
	198,140	e	Murphy Oil Corp		5,665
	1,542,184		Nabors Industries Ltd		20,156
	61,309	*	Naphtha Israel Petroleum Corp Ltd		432
	914,491		National Oilwell Varco, Inc		36,662
	31,730	*	Natural Gas Services Group, Inc		827
	482,874	e	Navios Maritime Acq Corp		831
	567,878		Neste Oil Oyj		22,206
	121,494		New Zealand Refining Co Ltd		203
	692,014	*	Newfield Exploration Co		25,542
	16,908,000	e	Newocean Energy Holdings Ltd		4,830
	292,055	*	Newpark Resources, Inc		2,366
	65,100	e	Nippon Gas Co Ltd		1,902
	552,469	e	Noble Corp plc		3,420
	520,398		Noble Energy, Inc		17,870
	195,125	e	Nordic American Tanker Shipping		1,596
	129,618	e	Northern Blizzard Resources, Inc		319
	104,276	*,e	Northern Oil And Gas, Inc		271
	67,506	e	Nostrum Oil & Gas plc		410
	150,916		NovaTek OAO (GDR)		18,819
	133,818	*	NuVista Energy Ltd		619
	539,814	*	Oasis Petroleum, Inc		7,698
	3,242,775		Occidental Petroleum Corp		205,462
	39,959	e	Ocean Yield ASA		284
	606,741		Oceaneering International, Inc		16,431
	2,390,087		Oil Refineries Ltd		946
	1,110,401	e	Oil Search Ltd		6,122
	101,682	*	Oil States International, Inc		3,371
	432,740		OMV AG.		17,054
	352,837		Oneok, Inc		19,561
	640,713	*	Ophir Energy plc		693
	1,616,946		Origin Energy Ltd		8,698
	318,333		Overseas Shipholding Group, Inc		1,229

67

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	185,767	*	Pacific Ethanol, Inc	$	1,272
	73,959	*,e	Painted Pony Petroleum Ltd		299
	29,201		Panhandle Oil and Gas, Inc (Class A)		561
	161,457	*,e	Pantheon Resources plc		161
	105,911	*,e	Par Pacific Holdings, Inc		1,746
	204,517	*	Paramount Resources Ltd (Class A)		2,611
	679,232	*	Parex Resources, Inc		8,657
	650,694	*	Parker Drilling Co		1,139
	211,376		Parkland Fuel Corp		4,705
	5,692,737	*	Parsley Energy, Inc		185,071
	67,607		Pason Systems, Inc		977
	611,534		Patterson-UTI Energy, Inc		14,842
	5,528		Paz Oil Co Ltd		915
	148,687	e	PBF Energy, Inc		3,296
	127,179	*	PDC Energy, Inc		7,930
	56	*,b,e	Peabody Energy Corp		0	^
	515,421		Pembina Pipeline Income Fund		16,333
	1,319,822	*,e	Pengrowth Energy Trust		1,320
	903,270	*	Penn West Energy Trust		1,542
	248,913		Petrofac Ltd		2,875
	5,243,105	*	Petroleo Brasileiro S.A.		25,373
	7,801,219	*	Petroleo Brasileiro S.A. (Preference)		36,108
	271,600	*	Petroleum Geo-Services ASA		721
	440,459		Petronas Dagangan BHD		2,388
	427,748	e	Peyto Exploration & Development Corp		8,797
	30,503	*	PHI, Inc		365
	565,626		Phillips 66		44,809
	148,982	*	Pioneer Energy Services Corp		596
	486,690		Pioneer Natural Resources Co		90,636
	3,212,005		Plains All American Pipeline LP		101,531
	940,090		Plains GP Holdings LP		29,387
	4,025,708		Polish Oil & Gas Co		6,007
	420,577		Polski Koncern Naftowy Orlen S.A.		10,608
	100,100	*,m	Poseidon Concepts Corp		1
	111,622	e	PrairieSky Royalty Ltd		2,355
	522,778	*	Precision Drilling Trust		2,473
	3,034,095	*,e	Premier Oil plc		2,399
	1,212,700		PT Indo Tambangraya Megah		1,838
	18,113,600	*,m	PT Sugih Energy Tbk		155
	567,080		PT Tambang Batubara Bukit Asam Tbk		562
	2,064,906		PT United Tractors Tbk		4,110
	1,598,621		PTT Exploration & Production PCL (Foreign)		4,327
	1,806,595		PTT PCL (Foreign)		20,346
	592,534		Qatar Gas Transport Co Ltd		3,461
	439,900		QGEP Participacoes S.A.		864
	518,087	*	Questar Market Resources, Inc		6,585
	279,986	*	Raging River Exploration, Inc		1,964
	543,486		Range Resources Corp		15,815
	2,826,851		Reliance Industries Ltd		57,507
	227,551	*,e	Renewable Energy Group, Inc		2,378
	1,930,453		Repsol YPF S.A.		29,908
	11,197	*	Rex American Resources Corp		1,013
	448,856	*	Rice Energy, Inc		10,638

68

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	23,365	*	RigNet, Inc	$	501
	81,918	*	Ring Energy, Inc		886
	1,532,680		Rosneft Oil Co (GDR)		8,731
	476,833	*	Rowan Cos plc		7,429
	5,477,539		Royal Dutch Shell plc (A Shares)		144,378
	4,605,170		Royal Dutch Shell plc (B Shares)		126,593
	365,629	e	RPC, Inc		6,695
	4,367,703	*	RSP Permian, Inc		180,954
	6,638,739	*	Saipem S.p.A.		3,015
	43,500		San-Ai Oil Co Ltd		369
	752,148	*,e	Sanchez Energy Corp		7,175
	1,371,543	*	Santos Ltd		3,980
	4,764,376		Sapurakencana Petroleum BHD		1,960
	2,532,083		Saras S.p.A.		4,835
	639,525		Sasol Ltd		18,747
	140,438		SBM Offshore NV		2,302
	4,603,831		Schlumberger Ltd		359,559
	8,651	e	Schoeller-Bleckmann Oilfield Equipment AG.		603
	782,835		Scorpio Tankers, Inc		3,476
	31,672	*	SEACOR Holdings, Inc		2,191
	731,709	*,e	Seadrill Ltd		1,207
	275,031	*,e	Seadrill Ltd (Oslo Exchange)		436
	124,290	e	Secure Energy Services, Inc		916
	235,887		SemGroup Corp		8,492
	50	*,m	Serval Integrated Energy Services		0
	506,315	*	Seven Generations Energy Ltd		9,252
	234,800	*	Shandong Molong Petroleum Machinery Co Ltd		64
	387,592		Shanxi Guoxin Energy Corp Ltd		425
	54,079		ShawCor Ltd		1,583
	260,800		Shinko Plantech Co Ltd		1,992
	117,981	e	Ship Finance International Ltd		1,734
	298,065		Showa Shell Sekiyu KK		3,025
	1,094,000		Siamgas & Petrochemicals PCL		417
	1,791,100		Siamgas & Petrochemicals PCL (Foreign)		683
	4,700		Sinanen Co Ltd		89
	708,000		Sinopec Kantons Holdings Ltd		385
	218,409		SK Energy Co Ltd		32,544
	18,712		SK Gas Co Ltd		2,024
	222,729		SM Energy Co		5,350
	30,843	*,e	Smart Sand, Inc		501
	2,890,801		Snam Rete Gas S.p.A.		12,494
	158,767		Soco International plc		270
	65,999		S-Oil Corp		5,934
	429,689	*,e	Sound Energy plc		423
	603,452	*	Southwestern Energy Co		4,930
	386,204	*	Spartan Energy Corp		772
	366,911	*,e	SRC Energy, Inc		3,097
	4,369,002		Statoil ASA		75,097
	490,025		Stobart Group Ltd		1,273
	769,179	*	Subsea 7 S.A.		11,937
	2,574,782		Suncor Energy, Inc		79,053
	509,973	*	Superior Energy Services		7,272

69

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	678,265	e	Surge Energy, Inc	$	1,326
	1,629,288		Surgutneftegaz (ADR)		8,360
	354,200		Surgutneftegaz (ADR) (London)		1,810
	1,192,589		Targa Resources Investments, Inc		71,436
	415,562		Tatneft PAO (ADR)		15,301
	35,586	*	TechnipFMC plc		1,157
	4,254	*	TechnipFMC plc		139
	138,926		Tecnicas Reunidas S.A.		5,485
	95,808	e	Teekay Corp		877
	853,164		Teekay Tankers Ltd (Class A)		1,749
	402,708		Tenaris S.A.		6,964
	86,339	*	Tesco Corp		695
	342,447		Tesoro Corp		27,759
	25,639		Tethys Oil AB		182
	554,806	*	Tetra Technologies, Inc		2,258
	90,960		TGS Nopec Geophysical Co ASA		1,932
	1,363,155		Thai Oil PCL (Foreign)		2,995
	75,196		TMK OAO (GDR)		399
	864,848	m	TonenGeneral Sekiyu KK		10,873
	130,123	e	TORC Oil & Gas Ltd		668
	66,217	e	TORM plc		674
	22,102	e	Total Energy Services, Inc		221
	2,973,075		Total S.A.		150,329
	120,711	*	Tourmaline Oil Corp		2,691
	289,000	e	Toyo Kanetsu K K		767
	1,445,706	e	TransCanada Corp		66,717
	1,124	*	Transocean Ltd		14
	2,175,659	*,e	Transocean Ltd (NYSE)		27,087
	120,103	*,e	Trican Well Service Ltd		366
	54,834	*,e	Trilogy Energy Corp		201
	444,341	*	Trinidad Drilling Ltd		768
	916,327	*,e	Tullow Oil plc		2,703
	195,251		Tupras Turkiye Petrol Rafine		4,851
	445,694		Ultrapar Participacoes S.A.		10,196
	516,700	*	UMW Oil & Gas Corp BHD		72
	374,641	*	Unit Corp		9,051
	278,992		US Silica Holdings Inc		13,389
	1,083,896		Valero Energy Corp		71,851
	242,157	*,e	Vallourec SA		1,605
	89,821		Verbio AG.		1,016
	867,521	e	Veresen, Inc		9,589
	53,546	e	Vermilion Energy, Inc		2,008
	32,353		VTTI Energy Partners LP		615
	77,387	*,e	W&T Offshore, Inc		214
	5,079,255	*,e	Weatherford International Ltd		33,777
	217,467		Western Refining, Inc		7,627
	86,222	*	Westmoreland Coal Co		1,252
	285,293	e	Whitecap Resources, Inc		2,220
	1,327,968	*	Whitehaven Coal Ltd		3,029
	773,804	*,e	Whiting Petroleum Corp		7,320
	32,904	*	WildHorse Resource Development Corp		409
	261,891	*	Willbros Group, Inc		718
	4,974,615		Williams Cos, Inc		147,199

70

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,150,000	*	Wison Engineering Services Co Ltd	$	224
	1,262,548		Woodside Petroleum Ltd		30,930
	263,460		World Fuel Services Corp		9,550
	188,543	*,e	WorleyParsons Ltd		1,585
	2,911,329	*	WPX Energy, Inc		38,983
	4,860,000	*,e	Yanchang Petroleum International Ltd		116
	3,691,066	e	Yanzhou Coal Mining Co Ltd		2,871
	324,300		Yinson Holdings BHD		242
	300,410	e	YPF S.A. (ADR) (Class D)		7,294
	424,917		Z Energy Ltd		2,072
			TOTAL ENERGY		7,777,370
FOOD & STAPLES RETAILING - 1.4%
	1,196,300		7-Eleven Malaysia Holdings BHD		433
	497,744		Aeon Co Ltd		7,288
	19,600		Ain Pharmaciez Inc		1,323
	1,811		Al Meera Consumer Goods Co		84
	579,467		Alimentation Couche Tard, Inc		26,179
	1,755,255		Almacenes Exito S.A.		9,353
	63,164		Andersons, Inc		2,394
	41,879		Arcs Co Ltd		1,002
	228,999		Axfood AB		3,439
	21,900		Axial Retailing, Inc		836
	22,000		Belc Co Ltd		857
	64,593		BGF retail Co Ltd		6,067
	801,028	e	Bid Corp Ltd		15,451
	270,207		BIM Birlesik Magazalar AS		4,155
	2,885,926		Booker Group plc		7,065
	613,856		Carrefour S.A.		14,463
	96,613	e	Casey’s General Stores, Inc		10,845
	138,128		Casino Guichard Perrachon S.A.		7,718
	40,100		Cawachi Ltd		1,087
	5,416,151		Centros Comerciales Sudamericanos S.A.		16,644
	35,694	*,e	Chefs’ Warehouse Holdings, Inc		496
	717,017		Cia Brasileira de Distribuicao Grupo Pao de Acucar		13,765
	5,424		CJ Freshway Corp		160
	202,049		Clicks Group Ltd		1,925
	35,160		Cocokara Fine Holdings, Inc		1,530
	26,968		Colruyt S.A.		1,324
	499,444	e	Conviviality plc		1,705
	6,112,000		Cosco Capital, Inc		1,033
	12,400		Cosmos Pharmaceutical Corp		2,428
	5,475,129		CP Seven Eleven PCL (Foreign)		9,398
	87,900		Create SD Holdings Co Ltd		2,099
	2,255,133		CVS Health Corp		177,028
	6,600		Daikokutenbussaan Co Ltd		299
	190,973	e	Distribuidora Internacional de Alimentacion S.A.		1,104
	30,729		Dongsuh Co, Inc		816
	32,988		E-Mart Co Ltd		6,062
	248,473		Empire Co Ltd		3,797
	182,656		Eurocash S.A.		1,469
	88,991		FamilyMart Co Ltd		5,310

71

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	53,698		George Weston Ltd	$	4,685
	258,294		Greggs plc		3,374
	91,000		Growell Holdings Co Ltd		2,549
	291,600	e	Grupo Comercial Chedraui S.a. DE C.V.		628
	29,521		GS Retail Co Ltd		1,391
	6,100		Halows Co Ltd		123
	54,400		Heiwado Co Ltd		1,323
	36,010		Hyundai Greenfood Co Ltd		504
	278,080	e	ICA Gruppen AB		9,485
	27,291		Ingles Markets, Inc (Class A)		1,178
	9,200		Itochu-Shokuhin Co Ltd		379
	2,337,122	e	J Sainsbury plc		7,741
	171,734		Jean Coutu Group PJC, Inc		2,703
	362,204		Jeronimo Martins SGPS S.A.		6,472
	12,600	e	Kansai Super Market Ltd		175
	17,300		Kato Sangyo Co Ltd		446
	50,355	e	Kesko Oyj (B Shares)		2,401
	23,800	e	Kobe Bussan Co Ltd		922
	3,322,569		Koninklijke Ahold Delhaize NV		71,003
	2,986,927		Kroger Co		88,084
	18,200		Kusuri no Aoki Holdings Co Ltd		812
	422,100	*,e	La Comer SAB de C.V.		343
	236,414		Lawson, Inc		16,075
	328,000	*,e	Lianhua Supermarket Holdings Co Ltd		160
	11,900		Life Corp		349
	292,795		Loblaw Cos Ltd		15,888
	644,000	*	Madison Wine Holdings Ltd		166
	453,261		Magnit OAO (GDR)		17,273
	50,208	e	Majestic Wine plc		203
	484,000	*,e	Major Holdings Ltd		80
	25,797		MARR S.p.A.		558
	102,141	e	Massmart Holdings Ltd		1,037
	103,300		Matsumotokiyoshi Holdings Co Ltd		4,921
	3,004,237	*	Metcash Ltd		5,666
	191,330		Metro AG.		6,113
	509,351		Metro, Inc		15,646
	18,761	*	Migros Ticaret AS		114
	49,900		Ministop Co Ltd		938
	19,747	*,e	Natural Grocers by Vitamin C		205
	11,400	e	Nihon Chouzai Co Ltd		388
	162,652	e	North West Co Fund		3,878
	58,000		Okuwa Co Ltd		591
	2,000		Olam International Ltd		3
	114,872	*	Performance Food Group Co		2,734
	392,471		Pick’n Pay Stores Ltd		1,946
	654,822		President Chain Store Corp		5,394
	39,411		Pricesmart, Inc		3,634
	981,400		PT Matahari Putra Prima Tbk		81
	22,000,000	*	PT Modern Internasional Tbk		114
	11,300		Qol Co Ltd		167
	241,402		Raia Drogasil S.A.		4,524
	71,960		Rallye S.A.		1,457
	18,373		Rami Levi Chain Stores Hashikma Marketing 2006 Ltd		781

72

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,435,755	*	Rite Aid Corp	$	6,102
	515,620		Robinsons Retail Holdings, Inc		791
	41,179		Ryoshoku Ltd		1,279
	13,700		San-A Co Ltd		624
	801,673		Seven & I Holdings Co Ltd		31,493
	419,500	e	Sheng Siong Group Ltd		283
	739,340	e	Shoprite Holdings Ltd		10,693
	405,222		Shufersal Ltd		1,964
	46,364	*,e	Smart & Final Stores, Inc		561
	19,500		Sogo Medical Co Ltd		734
	624,043		Sonae SPGS S.A.		629
	208,393		Spar Group Ltd		2,704
	215,047		Spartan Stores, Inc		7,524
	146,397	*,e	Sprouts Farmers Market, Inc		3,385
	29,500		Sugi Pharmacy Co Ltd		1,356
	2,596,028		Sun Art Retail Group Ltd		2,434
	75,812		Sundrug Co Ltd		2,551
	929,255	*	Supervalu, Inc		3,587
	967,214		Sysco Corp		50,218
	293,000		Taiwan TEA Corp		161
	36,658,523	*	Tesco plc		85,318
	28,200		Tsuruha Holdings, Inc		2,616
	247,953	*	United Natural Foods, Inc		10,719
	150,100	e	United Super Markets Holdings, Inc		1,376
	1,751,511	*	US Foods Holding Corp		49,007
	69,100		Valor Co Ltd		1,635
	13,714		Village Super Market (Class A)		363
	3,368,751		Walgreens Boots Alliance, Inc		279,775
	8,143,750		Wal-Mart de Mexico SAB de C.V.		18,774
	4,821,884		Wal-Mart Stores, Inc		347,562
	25,612	e	Weis Markets, Inc		1,528
	1,059,146		Wesfarmers Ltd		36,464
	467,954	e	Whole Foods Market, Inc		13,908
	3,014,295		WM Morrison Supermarkets plc		9,071
	924,984		Woolworths Ltd		18,727
	155,528	*	X 5 Retail Group NV (GDR)		5,234
	7,100	e	Yakuodo Co Ltd		178
	35,700		Yaoko Co Ltd		1,363
	33,000	e	Yokohama Reito Co Ltd		328
			TOTAL FOOD & STAPLES RETAILING		1,699,255
FOOD, BEVERAGE & TOBACCO - 5.2%
	1,115,895	*,e	a2 Milk Co Ltd		2,339
	22,942		AarhusKarlshamn AB		1,510
	419,618	*	Adecoagro S.A.		4,809
	229,580		AdvancePierre Foods Holdings, Inc		7,156
	15,864	e	AGT Food & Ingredients, Inc		372
	252,930		Agthia Group PJSC		443
	397,885		Ajinomoto Co, Inc		7,873
	7,386		Alico, Inc		195
	17,453	*	Alliance One International, Inc		224
	4,809,422		Altria Group, Inc		343,489

73

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,067,174		AMBEV S.A.	$	41,176
	58,065	*,e	Amplify Snack Brands, Inc		488
	183,146		Anadolu Efes Biracilik Ve Malt Sanayii AS		999
	502,655		Anheuser-Busch InBev S.A.		55,079
	97,000		Anhui Gujing Distillery Co Ltd		382
	1,236,622		Archer Daniels Midland Co		56,934
	14,000		Ariake Japan Co Ltd		883
	26,273		Aryzta AG.		844
	468,640		Asahi Breweries Ltd		17,745
	1,391,061		Associated British Foods plc		45,440
	136,963		Astral Foods Ltd		1,602
	8,278		Atria Group plc		92
	229,995		Austevoll Seafood ASA		1,688
	287,167	*,e	Australian Agricultural Co Ltd		364
	697,743		AVI Ltd		5,149
	129,307	e	B&G Foods, Inc (Class A)		5,205
	126,671		Bakkafrost P		3,918
	222,599		Balrampur Chini Mills Ltd		498
	2,155		Barry Callebaut AG.		2,818
	5,613,300	*	Becle SAB de C.V.		9,915
	360,228	e	Bega Cheese Ltd		1,742
	1,085		Bell AG.		449
	58,494	e	Bellamy’s Australia Ltd		188
	17,010	*,e	Belvedere S.A.		287
	18,631		Binggrae Co Ltd		1,141
	157,299	*,e	Biostime Internatonal Holdings Ltd		524
	248,929	*,e	Blue Buffalo Pet Products, Inc		5,725
	16,225		Bonduelle S.C.A.		511
	32,563	*,e	Boston Beer Co, Inc (Class A)		4,710
	661,986		BRF S.A.		8,164
	397,304		British American Tobacco Malaysia BHD		4,092
	4,639,099		British American Tobacco plc		307,786
	4,152,131		Britvic plc		33,695
	97,433		Brown-Forman Corp		4,586
	191,477		Brown-Forman Corp (Class B)		8,842
	260,500		Bumitama Agri Ltd		147
	733,431		Bunge Ltd		58,132
	317,425		C&C Group plc		1,231
	45,458	e	Calavo Growers, Inc		2,755
	66,674	e	Calbee, Inc		2,277
	61,031	e	Cal-Maine Foods, Inc		2,246
	494,649		Campbell Soup Co		28,314
	24,372	*	Carlsberg AS (Class B)		2,251
	179,600		Carlsberg Brewery-Malay BHD		609
	13,744		CCL Products India Ltd		73
	373,400		Century Pacific Food, Inc		126
	844,000		Charoen Pokphand Enterprise		1,508
	15,271,772		Charoen Pokphand Foods PCL		12,333
	6,988,000	*	China Agri-Industries Holdings Ltd		3,516
	4,375,889	e,m	China Huishan Dairy Holdings Co Ltd		118
	489,500	*	China Huiyuan Juice Group Ltd		153
	3,656,946		China Mengniu Dairy Co Ltd		7,583
	1,313,000	e	China Modern Dairy Holdings		297

74

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,833,164	*	China Resources Beer Holdings Company Ltd	$	4,173
	2,789,000	*,e,g	China Shengmu Organic Milk Ltd		703
	1,226,000	*,e	China Yurun Food Group Ltd		186
	129,095		Cia Cervecerias Unidas S.A.		1,627
	8,633		CJ CheilJedang Corp		2,725
	40,522		Clearwater Seafoods, Inc		319
	172,374		Cloetta AB		681
	230,040		Clover Industries Ltd		309
	1,339,868		Coca-Cola Amatil Ltd		11,077
	9,262	e	Coca-Cola Bottling Co Consolidated		1,908
	12,000	m	Coca-Cola Central Japan Co Ltd		290
	7,580,333		Coca-Cola Co		321,709
	213,407		Coca-Cola European Partners plc		7,971
	148,589		Coca-Cola European Partners plc (Class A)		5,600
	708,727		Coca-Cola Femsa S.A. de C.V.		5,091
	316,062		Coca-Cola HBC AG.		8,159
	87,115		Coca-Cola Icecek AS		854
	35,200	e	Coca-Cola West Japan Co Ltd		1,137
	2,330,000		Cofco International Ltd		951
	4,511,105		ConAgra Foods, Inc		181,978
	393,661		Constellation Brands, Inc (Class A)		63,801
	10,299		Corby Spirit and Wine Ltd		171
	320,660		Costa Group Holdings Ltd		1,066
	1,494,943		Costco Wholesale Corp		250,687
	107,207		Cott Corp (Toronto)		1,327
	24,144	*	Craft Brewers Alliance, Inc		322
	34,959	m	Crown Confectionery Co Ltd		1,042
	262		Dae Han Flour Mills Co Ltd		41
	89,006		Daesang Corp		1,918
	52,141		Daesang Holdings Co Ltd		473
	109,480	e	Dairy Crest Group plc		759
	771,713	*	Darling International, Inc		11,205
	4,031,780		Davide Campari-Milano S.p.A.		46,767
	180,665		Dean Foods Co		3,552
	3,417,089		Diageo plc		97,849
	955		Dongwon F&B Co Ltd		199
	3,165		Dongwon Industries Co Ltd		962
	684,438		Dr Pepper Snapple Group, Inc		67,020
	6,400		Dydo Drinco, Inc		300
	1,214,000	*,e,m	Dynasty Fine Wines Group Ltd		2
	205,327		Easy Bio, Inc		1,110
	53,528		Ebro Puleva S.A.		1,082
	228,154		Embotelladora Andina S.A.		888
	1,753,501		Embotelladoras Arca SAB de C.V.		12,185
	1,899		Emmi AG.		1,293
	35,000		Ezaki Glico Co Ltd		1,702
	14,969	*	Farmer Bros Co		529
	60,224		Farmsco		688
	1,561,104		Felda Global Ventures Holdings BHD		737
	949,787		Fevertree Drinks plc		17,908
	430,400	e	First Resources Ltd		597
	285,091		Flowers Foods, Inc		5,534

75

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,189,763		Fomento Economico Mexicano S.A. de C.V.	$	19,420
	343,276	e	Fonterra Shareholders’ Fund		1,458
	205,730		Fresh Del Monte Produce, Inc		12,185
	40,458	*,e	Freshpet, Inc		445
	276,373		Fuji Oil Co Ltd		6,482
	14,932		Fujicco Co Ltd		341
	83,000		Fujiya Co Ltd		196
	1,194,651		General Mills, Inc		70,496
	283,914		Genting Plantations BHD		749
	1,877,700		GFPT PCL (Foreign)		1,006
	162,003		Glanbia plc		3,129
	11,156		Godfrey Phillips India Ltd		195
	11,810,934		Golden Agri-Resources Ltd		3,253
	639,102		GrainCorp Ltd-A		4,440
	1,154,272		Great Wall Enterprise Co		1,096
	755,170		Greencore Group plc		2,323
	46,469		Greenyard Foods		887
	1,571,426		Groupe Danone		106,896
	464,450		Gruma SAB de C.V.		6,537
	2,787,716		Grupo Bimbo S.A. de C.V. (Series A)		6,937
	144,495		Grupo Herdez SAB de C.V.		299
	751,648	e	Grupo Lala SAB de C.V.		1,364
	320,646	*	Hain Celestial Group, Inc		11,928
	6,352		Haitai Confectionery & Foods Co Ltd		104
	356,493		Harim & Co Ltd		1,655
	78,030		Heineken Holding NV		6,198
	842,813		Heineken NV		71,722
	568,282		Hershey Co		62,085
	44,804		High Liner Foods, Inc		608
	7,090		Hite Holdings Co Ltd		73
	64,800		Hokuto Corp		1,171
	161,000	e,g	Honworld Group Ltd		97
	271,992		Hormel Foods Corp		9,419
	43,852		House Foods Corp		958
	477,200		Ichitan Group PCL		143
	275,220		Imperial Tobacco Group plc		13,338
	271,878		Indofood Agri Resources Ltd		101
	2,485,230		Indofood CBP Sukses Makmur Tbk		1,520
	401,500	e	Industrias Bachoco SAB de C.V.		1,822
	269,500		Ingredion, Inc		32,456
	37,097	*,e	Inventure Foods, Inc		164
	2,816,997		IOI Corp BHD		2,958
	5,893,534		ITC Ltd		25,446
	41,500		Ito En Ltd		1,517
	199,000	*	Itoham Yonekyu Holdings, Inc		1,865
	48,837		J&J Snack Foods Corp		6,620
	147,018		J.M. Smucker Co		19,271
	2,338,809		Japan Tobacco, Inc		76,122
	868,300		Japfa Ltd		506
	791,297		JBS S.A.		2,581
	23,288		Jinro Ltd		424
	44,863		John B. Sanfilippo & Son, Inc		3,283
	24,200		J-Oil Mills, Inc		913

76

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	393,731		Juhayna Food Industries	$	178
	57,973		Kagome Co Ltd		1,510
	9,500		Kameda Seika Co Ltd		417
	74,343		Kaveri Seed Co Ltd		639
	961,656		Kellogg Co		69,826
	8,100		Kenko Mayonnaise Co Ltd		199
	562,832		Kerry Group plc (Class A)		44,252
	13,600		KEY Coffee, Inc		267
	906,360		Khon Kaen Sugar Industry PCL		158
	110,671		Kikkoman Corp		3,308
	1,351,090		Kirin Brewery Co Ltd		25,558
	58,920		Koninklijke Wessanen NV		795
	16,200	e	Kotobuki Spirits Co Ltd		399
	3,995,571		Kraft Heinz Co		362,838
	92,955		KRBL Ltd		591
	305,204		KT&G Corp		26,609
	520,952		Kuala Lumpur Kepong BHD		2,904
	1,644		KWS Saat AG.		510
	36,316		La Doria S.p.A		378
	708,149		Lamb Weston Holdings, Inc		29,785
	45,312		Lancaster Colony Corp		5,838
	55,183	*	Landec Corp		662
	114,742		Leroy Seafood Group ASA		5,025
	2,025,000	*,e	Leyou Technologies Holdings Ltd		404
	575,432		Lien Hwa Industrial Corp		483
	13,660	*,e	Lifeway Foods, Inc		147
	26,156		Limoneira Co		547
	1,860		Lindt & Spruengli AG.		10,539
	26		Lindt & Spruengli AG. (Registered)		1,725
	636		Lotte Chilsung Beverage Co Ltd		805
	5,844		Lotte Confectionery Co Ltd		1,005
	569		Lotte Samkang Co Ltd		318
	101,560		M Dias Branco S.A.		4,146
	35,953		Maeil Dairy Industry Co Ltd		1,517
	77,500		Malee Group PCL		222
	73,137		Maple Leaf Foods, Inc		1,775
	218,700	*	Marfrig Global Foods S.A.		399
	202,000		Marudai Food Co Ltd		886
	123,700	e	Maruha Nichiro Corp		3,757
	124,016		McCormick & Co, Inc		12,098
	37,367		McLeod Russel India Ltd		96
	222,720		Mead Johnson Nutrition Co		19,840
	129,000		Megmilk Snow Brand Co Ltd		3,556
	111,768		MEIJI Holdings Co Ltd		9,326
	24,616	e	Mgp Ingredients, Inc		1,335
	96,900	*	Minerva S.A.		302
	73,200		Mitsui Sugar Co Ltd		1,781
	1,866,496		Molson Coors Brewing Co (Class B)		178,642
	7,391,907		Mondelez International, Inc		318,443
	4,442,942	*	Monster Beverage Corp		205,131
	69,060		Morinaga & Co Ltd		3,066
	196,000		Morinaga Milk Industry Co Ltd		1,459

77

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	31,887		Muhak Co Ltd	$	660
	17,000		Nagatanien Co Ltd		221
	162,000		Namchow Chemical Industrial Ltd		331
	299		Namyang Dairy Products Co Ltd		227
	70,852	e	National Beverage Corp		5,989
	6,375	*,e	Naturex		560
	38,131		Nestle India Ltd		3,924
	3,356,649		Nestle S.A.		257,629
	2,270,000	*	New Silkroad Culturaltainment Ltd		333
	203,400		Nichirei Corp		5,045
	7,900		Nippon Beet Sugar Manufacturing Co Ltd		168
	64,500		Nippon Flour Mills Co Ltd		955
	141,705		Nippon Meat Packers, Inc		3,807
	434,866		Nippon Suisan Kaisha Ltd		2,172
	360,000		Nisshin Oillio Group Ltd		2,053
	172,907		Nisshin Seifun Group, Inc		2,585
	49,073		Nissin Food Products Co Ltd		2,726
	8,505		Nong Shim Co Ltd		2,275
	1,512		Nong Shim Holdings Co Ltd		139
	6,467		Nong Woo Bio Co Ltd		91
	48,919		Norway Royal Salmon ASA		815
	98,653		Oceana Group Ltd		765
	124,978		Omega Protein Corp		2,506
	204,417		Origin Enterprises plc		1,453
	14,820		Orion Corp		8,887
	12,094		Orior AG.		866
	264,153		Orkla ASA		2,366
	1,356		Ottogi Corp		922
	1,898,682		PAN Fish ASA		28,963
	3,877,540		PepsiCo, Inc		433,741
	47,813		Pernod-Ricard S.A.		5,652
	72,987	*,m	Pescanova S.A.		1
	881		Philip Morris CR		472
	3,547,385		Philip Morris International, Inc		400,500
	170,321	e	Pilgrim’s Pride Corp		3,833
	17,000		Pinar SUT Mamulleri Sanayii AS		73
	2,971,738		Pinnacle Foods, Inc		171,974
	141,362		Pioneer Foods Ltd		1,861
	527,170	*	Post Holdings, Inc		46,138
	498,691		PPB Group BHD		1,886
	547,447	*	Premier Foods plc		302
	70,009	e	Premium Brands Holdings Corp		4,483
	784,000		Prima Meat Packers Ltd		3,471
	45,928	*	Primo Water Corp		624
	5,692,200	m	PT Austindo Nusantara Jaya		786
	1,389,600		PT Bisi International		196
	7,987,700	*	PT BW Plantation Tbk		203
	6,925,118		PT Charoen Pokphand Indonesia Tbk		1,662
	1,160,411		PT Gudang Garam Tbk		5,707
	9,985,900		PT Hanjaya Mandala Sampoerna Tbk		2,924
	4,718,991		PT Indofood Sukses Makmur Tbk		2,834
	3,838,800		PT Japfa Comfeed Indonesia Tbk		445
	1,411,300		PT Nippon Indosari Corpindo Tbk		163

78

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,563,200		PT Perusahaan Perkebunan London Sumatra Indonesia Tbk	$	282
	8,323,600		PT Salim Ivomas Pratama Tbk		391
	1,591,000		PT Sawit Sumbermas Sarana Tbk		198
	905		Pulmuone Co Ltd		106
	143,700		Q.P. Corp		4,085
	813,419		QAF Ltd		811
	826,250		QL Resources BHD		851
	118,884	g	Refresco Gerber NV		1,807
	222,785		Remy Cointreau S.A.		21,795
	1,029,583		Reynolds American, Inc		64,884
	12,000,000		RFM Corp		1,148
	88,003	e	Rhodes Food Group Pty Ltd		156
	15,800		Riken Vitamin Co Ltd		572
	67,200		Rock Field Co Ltd		1,103
	320,243	e	Rogers Sugar, Inc		1,505
	30,300		Rokko Butter Co Ltd		660
	130,311		Royal Unibrew A.S.		5,488
	18,900	e	S Foods, Inc		550
	2,260		Sajo Industries Co Ltd		136
	22,555		Sakata Seed Corp		709
	231,125		Salmar ASA		4,984
	1,768		Samlip General Foods Co Ltd		348
	15,630		Samyang Corp		1,359
	10,819		Samyang Holdings Corp		1,195
	82,475	e	Sanderson Farms, Inc		8,564
	128,400		Sao Martinho S.A.		709
	277,000		Sapporo Holdings Ltd		7,488
	331,643		Saputo, Inc		11,444
	33,697		Scandi Standard AB		205
	93,896		Scandinavian Tobacco Group A.S.		1,641
	57,735		Schouw & Co		5,291
	574		Seaboard Corp		2,393
	58,105	e	Select Harvests Ltd		261
	12,481	*	Seneca Foods Corp		451
	113,200	*	Shandong Zhonglu Oceanic Fisheries Co Ltd		85
	227,100	*	Shanghai Dajiang Group		136
	1,140,000		Shenguan Holdings Group Ltd		85
	84,000		Showa Sangyo Co Ltd		444
	43,700		SLC Agricola S.A.		249
	158,376		Snyder’s-Lance, Inc		6,384
	400,290		Standard Foods Corp		995
	4,900		Starzen Co Ltd		197
	230,372		Stock Spirits Group plc		540
	33,476		Strauss Group Ltd		572
	55,424		Suedzucker AG.		1,389
	295,983		Suntory Beverage & Food Ltd		12,504
	355,700		Super Coffeemix Manufacturing Ltd		332
	433,472		Swedish Match AB		14,087
	41,319	*,e	Synutra International, Inc		246
	225,600		Takara Holdings, Inc		2,440
	323,600		Taokaenoi Food & Marketing PCL		250

79

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	361,332		Tassal Group Ltd	$	1,250
	509,932		Tata Tea Ltd		1,182
	946,863		Tate & Lyle plc		9,073
	1,933,000	e	Tenwow International Holdings Ltd		415
	1,394,609		Thai Union Group PCL		869
	1,332,400		Thai Vegetable Oil PCL		1,299
	1,222,600	*	Thaifoods Group PCL		237
	1,318,000	e	Tibet 5100 Water Resources Holdings Ltd		545
	1,645,400	*	Tiga Pilar Sejahtera Food Tbk		271
	198,126		Tiger Brands Ltd		5,911
	2,191,190	e	Tingyi Cayman Islands Holding Corp		2,752
	89,744		Tongaat Hulett Ltd		821
	34,780	e	Tootsie Roll Industries, Inc		1,299
	72,446		Toyo Suisan Kaisha Ltd		2,703
	789,701		Treasury Wine Estates Ltd		7,377
	142,922	*,e	TreeHouse Foods, Inc		12,100
	437,579	e	Tsingtao Brewery Co Ltd		2,017
	168,000		Ttet Union Corp		505
	11,172	*	Turning Point Brands, Inc		174
	959,525		Tyson Foods, Inc (Class A)		59,212
	181,345		Ulker Biskuvi Sanayi AS		922
	53,782		Unilever plc (ADR)		2,654
	5,586,977		Uni-President Enterprises Corp		10,474
	67,600	*	United Spirits Ltd		2,265
	47,475		Universal Corp		3,359
	1,029,004		Universal Robina		3,353
	187,882		Vector Group Ltd		3,908
	495,321		Vina Concha y Toro S.A.		842
	32,471		Viscofan S.A.		1,677
	6,289,614	e	Want Want China Holdings Ltd		4,356
	9,700		Warabeya Nichiyo Co Ltd		226
	316,000	*	Wei Chuan Food Corp		190
	7,605,818	g	WH Group Ltd		6,559
	328,720	*	WhiteWave Foods Co (Class A)		18,458
	4,168,408		Wilmar International Ltd		10,519
	68,531		Yakult Honsha Co Ltd		3,814
	170,416		Yamazaki Baking Co Ltd		3,509
	814,000	e	Yashili International		155
	289,000	*,e	Yihai International Holding Ltd		125
	2,528,000	*,e	YuanShengTai Dairy Farm Ltd		166
	11,000		Zydus Wellness Ltd		148
			TOTAL FOOD, BEVERAGE & TOBACCO		6,062,062
HEALTH CARE EQUIPMENT & SERVICES - 4.0%
	21,570	*,e	AAC Holdings, Inc		184
	43,092		Abaxis, Inc		2,090
	8,134,745		Abbott Laboratories		361,264
	131,910	*	Abiomed, Inc		16,515
	233,373	*,e	Acadia Healthcare Co, Inc		10,175
	155,435	*	Accuray, Inc		738
	160,053		Aceto Corp		2,530
	17,635	*	Addus HomeCare Corp		564
	158,164		Advanced Medical Solutions Group plc		480

80

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	685,409		Aetna Inc	$	87,424
	527,484	*	AGFA-Gevaert NV		2,581
	64,602	*	Air Methods Corp		2,778
	405,420	e	Al Noor Hospitals Group plc		3,621
	178,887	*	Alere, Inc		7,107
	361,555		Alfresa Holdings Corp		6,285
	4,002,659	*,e	Alibaba Health Information Technology Ltd		1,803
	90,697	*	Align Technology, Inc		10,404
	516,371	*	Allscripts Healthcare Solutions, Inc		6,548
	21,554	*	Almost Family, Inc		1,048
	24,140	e	Ambu A.S.		1,037
	77,200	*	Amedisys, Inc		3,944
	16,168	*,e	American Renal Associates Holdings, Inc		273
	641,460		AmerisourceBergen Corp		56,769
	116,645	*	AMN Healthcare Services, Inc		4,736
	271,382		Amplifon S.p.A.		3,268
	24,737		Analogic Corp		1,878
	184,077	*	Angiodynamics, Inc		3,194
	35,948	*	Anika Therapeutics, Inc		1,562
	278,398		Ansell Ltd		5,119
	892,748		Anthem, Inc		147,643
	92,955		Apollo Hospitals Enterprise Ltd		1,668
	13,000		As One Corp		564
	43,200		Asahi Intecc Co Ltd		1,798
	47,968	*,e	athenahealth, Inc		5,406
	61,713	*,e	AtriCure, Inc		1,182
	6,243		Atrion Corp		2,923
	221,759		Attendo AB		2,184
	1,963,494		Australian Pharmaceutical Industries Ltd		3,060
	44,852	*,e	Avinger, Inc		85
	54,851	*	AxoGen, Inc		573
	1,041,550		Bangkok Chain Hospital PCL		394
	4,122,445		Bangkok Dusit Medical Services PCL		2,543
	156,444		Bard (C.R.), Inc		38,883
	2,190,727		Baxter International, Inc		113,611
	271,628		Becton Dickinson & Co		49,827
	16,103	*,e,g	Biocartis NV		167
	223,904	*,e	BioScrip, Inc		381
	118,746	*	BioTelemetry, Inc		3,438
	31,000		Bioteque Corp		114
	77,900		BML, Inc		1,721
	10,017		Boditech Med, Inc		179
	7,485,891	*	Boston Scientific Corp		186,174
	663,163	*	Brookdale Senior Living, Inc		8,906
	413,165		Bumrungrad Hospital PCL (Foreign)		2,200
	119,684		Cantel Medical Corp		9,587
	71,760	g	Capio AB		397
	53,991	*	Capital Senior Living Corp		759
	638,079		Cardinal Health, Inc		52,035
	127,940	*	Cardiovascular Systems, Inc		3,618
	69,448		Carl Zeiss Meditec AG.		2,964
	83,863	*,e	Castlight Health, Inc		306

81

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	153		Celesio AG.	$	4
	154,836	*	Cellumed Co Ltd		82
	1,178,016	*,e	Centene Corp		83,945
	902,811	*	Cerner Corp		53,130
	198,972	*,e	Cerus Corp		885
	30,523	*	CHA Bio & Diostech Co Ltd		362
	45,247		Chemed Corp		8,266
	1,559,500		China NT Pharma Group Co Ltd		347
	367,000	e	China Pioneer Pharma Holdings Ltd		146
	478,000	*,e	China Resources Phoenix Healthcare Holdings Co Ltd		588
	4,080,500		Chularat Hospital PCL		297
	2,087,166	n	Cigna Corp		305,749
	80,629	*	Civitas Solutions, Inc		1,480
	107,986		Cochlear Ltd		11,155
	32,860		Coloplast AS		2,566
	217,289	*	Community Health Systems, Inc		1,927
	21,426		CompuGroup Medical AG.		954
	22,567	e	Computer Programs & Systems, Inc		632
	68,637	*,e	ConforMIS, Inc		358
	54,961		Conmed Corp		2,441
	135,278		Cooper Cos, Inc		27,041
	900,000	e	Cordlife Group Ltd		672
	129,077	*,e	Corindus Vascular Robotics, Inc		169
	60,492	*	Corvel Corp		2,631
	90,926	*	Cotiviti Holdings, Inc		3,785
	165,050	*	Cross Country Healthcare, Inc		2,370
	72,770		CryoLife, Inc		1,212
	45,963	*	Cutera, Inc		951
	45,994		CVS Group plc		658
	225,800	*,e	CYBERDYNE, Inc		3,245
	50,000	e	Daiken Medical Co Ltd		360
	1,528,280	*	Danaher Corp		130,714
	459,979	*	DaVita, Inc		31,265
	323,842		Dentsply Sirona, Inc		20,221
	190,280	*	DexCom, Inc		16,122
	64,209		DiaSorin S.p.A.		4,336
	9,155	*	DIO Corp		263
	291,740	*,e	Diplomat Pharmacy, Inc		4,653
	25,606		Draegerwerk AG.		2,631
	2,441		Draegerwerk AG. & Co KGaA		190
	877,512	*,n	Edwards Lifesciences Corp		82,548
	12,000		Eiken Chemical Co Ltd		333
	35,871		El.En. S.p.A		1,054
	288,284	e	Elekta AB (B Shares)		2,816
	51,233		EMIS Group plc		570
	159,167	*,e	Endologix, Inc		1,152
	92,664		Ensign Group, Inc		1,742
	16,704	*,e	Entellus Medical, Inc		231
	394,668	*	Envision Healthcare Corp		24,201
	390,450		Essilor International S.A.		47,405
	1,888,524	e	Estia Health Ltd		4,457
	29,945	*,e	Evolent Health, Inc		668
	23,920	*	Exactech, Inc		603

82

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,464,459	*	Express Scripts Holding Co	$	162,432
	374,815	e	Extendicare, Inc		2,844
	460,619	*,e	Fagron NV		5,892
	487,056		Fisher & Paykel Healthcare Corp		3,310
	143,200		Fleury S.A.		1,935
	1,044,505	*	Fortis Healthcare Ltd		2,907
	202,494		Fresenius Medical Care AG.		17,075
	502,782		Fresenius SE		40,402
	15,500		Fukuda Denshi Co Ltd		887
	3,605	*,e	Fulgent Genetics, Inc		39
	3,605	*	Galenica AG.		3,801
	195,015	*	Genesis Health Care, Inc		515
	84,067	*	GenMark Diagnostics, Inc		1,078
	91,676	e	Getinge AB (B Shares)		1,607
	40,000		Ginko International Co Ltd		366
	112,162	*,e	Glaukos Corp		5,754
	137,954	*	Globus Medical, Inc		4,086
	538,936	e	GN Store Nord		12,582
	1,388,831	e	Golden Meditech Holdings Ltd		225
	107,000		Green Hospital Supply, Inc		2,858
	4,172	e	Guerbet		354
	165,521	*	Haemonetics Corp		6,715
	114,773	*	Halyard Health, Inc		4,372
	970,000	e,g	Harmonicare Medical Holdings Ltd		510
	688,300		Hartalega Holdings BHD		771
	1,056,491	*	HCA Holdings, Inc		94,017
	110,798	*	HealthEquity, Inc		4,703
	1,625,622		Healthscope Ltd		2,818
	342,733		Healthsouth Corp		14,672
	50,911	*	HealthStream, Inc		1,234
	149,757	*	Henry Schein, Inc		25,454
	142,648		Hill-Rom Holdings, Inc		10,071
	267,751	*	HMS Holdings Corp		5,443
	37,100		Hogy Medical Co Ltd		2,337
	1,136,646	*	Hologic, Inc		48,364
	210,836		Hoya Corp		10,186
	11,000	*	Humana AB		89
	637,515		Humana, Inc		131,417
	3,887		Huons Global Co Ltd		87
	56,779	*	ICU Medical, Inc		8,670
	217,915	*	Idexx Laboratories, Inc		33,692
	3,930,842		IHH Healthcare BHD		5,329
	106,800	*,e	iKang Healthcare Group, Inc (ADR)		1,559
	267,080	*,e	ImpediMed Ltd		147
	8,301		InBody Co Ltd		170
	89,694	*	Inogen Inc		6,957
	86,179	*,e	Inovalon Holdings, Inc		1,086
	114,137	*	Insulet Corp		4,918
	60,196	*	Integer Holding Corp		2,420
	146,925	*,e	Integra LifeSciences Holdings Corp		6,190
	5,901		Interojo Co Ltd		199
	165,184	*	Intuitive Surgical, Inc		126,609

83

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	62,103		Invacare Corp	$	739
	70,512	*,e	InVivo Therapeutics Holdings Corp		286
	83,936		Ion Beam Applications		4,590
	10,778	*,e	iRadimed Corp		96
	63,152	*,e	iRhythm Technologies, Inc		2,375
	19,209	*,e	IRIDEX Corp		228
	6,746		i-SENS Inc		178
	37,400	e	Japan Lifeline Co Ltd		719
	700,769	e	Japara Healthcare Ltd		1,076
	195,000		Jeol Ltd		1,036
	51,128	*	K2M Group Holdings, Inc		1,049
	163,948		Kindred Healthcare, Inc		1,369
	34,232		Korian-Medica		1,035
	597,800		Kossan Rubber Industries		842
	731,273		KPJ Healthcare BHD		669
	415,140	*	Laboratory Corp of America Holdings		59,560
	18,949		Landauer, Inc		924
	95,634		LeMaitre Vascular, Inc		2,355
	97,994	*	LHC Group, Inc		5,282
	53,058	e	Lifco AB		1,409
	1,683,890	e	Life Healthcare Group Holdings Pte Ltd		3,630
	62,704	*	LifePoint Hospitals, Inc		4,107
	1,652,000	*	Lifetech Scientific Corp		417
	17,636	*,e	LivaNova plc		864
	13,185		Lutronic Corp		156
	218,435		M3, Inc		5,444
	148,123	*	Magellan Health Services, Inc		10,228
	37,800		Mani, Inc		891
	185,927	*	Masimo Corp		17,340
	28,558	*	Mazor Robotics Ltd		423
	476,535	n	McKesson Corp		70,651
	80,183	e	Medical Facilities Corp		1,111
	6,243		Medicare Group		164
	457,878		Mediceo Paltac Holdings Co Ltd		7,194
	109,152	*	Medidata Solutions, Inc		6,297
	6,003	*	Medipost Co Ltd		320
	316,247	*	MEDNAX, Inc		21,941
	3,292,578		Medtronic plc		265,250
	29,200		Menicon Co Ltd		897
	81,949		Meridian Bioscience, Inc		1,131
	166,315	*	Merit Medical Systems, Inc		4,807
	655,024		Metlifecare Ltd		2,814
	97,500		Microlife Corp		229
	351,000	*	Microport Scientific Corp		250
	68,639		Miraca Holdings, Inc		3,152
	356,000		Modern Dental Group Ltd		137
	137,414	*,e	Molina Healthcare, Inc		6,266
	18,336		Nagaileben Co Ltd		380
	22,400		Nakanishi, Inc		873
	722,144	*	Nanosonics Ltd		1,710
	20,200	*,e	NantHealth, Inc		100
	36,275	*	Narayana Hrudayalaya Ltd		175
	22,529		National Healthcare Corp		1,606

84

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	21,358		National Research Corp	$	421
	193,651	*	Natus Medical, Inc		7,601
	71,550	*	Neogen Corp		4,690
	1,062,675		Network Healthcare Holdings Ltd		2,027
	5,043		Neuca S.A.		482
	47,483	*	Nevro Corp		4,449
	230,200	e	Nichii Gakkan Co		1,749
	85,100		Nihon Kohden Corp		1,910
	60,867		Nikkiso Co Ltd		697
	333,700		Nipro Corp		4,713
	19,000		NMC Health plc		421
	42,391	e,g	NNIT A.S.		1,139
	107,794	*,e	Nobilis Health Corp		183
	101,212	*,e	Novocure Ltd		820
	213,645	*	NuVasive, Inc		15,955
	126,461	*	NxStage Medical, Inc		3,393
	3,854	*,e	Obalon Therapeutics, Inc		41
	270,570		Odontoprev S.A.		977
	1,079,482		Olympus Corp		41,664
	70,776	*	Omnicell, Inc		2,877
	440,271	*	OraSure Technologies, Inc		5,693
	237,420		Oriola-KD Oyj (B Shares)		1,006
	40,708	*	Orion Health Group Ltd		55
	32,761		Orpea		3,144
	123,917	*	Orthofix International NV		4,727
	9,327	*	Osstem Implant Co Ltd		436
	122,742		Owens & Minor, Inc		4,247
	56,566	*	Oxford Immunotec Global plc		876
	60,000		Paramount Bed Holdings Co Ltd		2,411
	142,168	e	Patterson Cos, Inc		6,430
	54,086	*,e	Penumbra, Inc		4,513
	80,822	*	PharMerica Corp		1,891
	32,523		Phonak Holding AG.		4,511
	86,000	*	Pihsiang Machinery Manufacturing Co Ltd		172
	318,407	*	Premier, Inc		10,135
	1,156,291		Primary Health Care Ltd		3,153
	54,231	*	Providence Service Corp		2,410
	322,962		PT Siloam International Hospitals Tbk		339
	2,134,000	*	PW Medtech Group Ltd		525
	235,387		Qualicorp S.A.		1,553
	117,398	*	Quality Systems, Inc		1,789
	444,873		Quest Diagnostics, Inc		43,682
	53,056	*	Quidel Corp		1,201
	245,699	*	Quorum Health Corp		1,337
	78,178	*	RadNet, Inc		461
	684,587	e	Raffles Medical Group Ltd		692
	229,959	e	Ramsay Health Care Ltd		12,276
	54,487		RaySearch Laboratories AB		1,428
	282,159	e	Regis Healthcare Ltd		963
	8,077,000		Religare Health Trust		5,139
	343,782		Resmed, Inc		24,742
	26,233	e	Rhoen Klinikum AG.		716

85

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	211,000		Rion Co Ltd	$	2,921
	93,395	*,e	Rockwell Medical, Inc		585
	184,227	*	RTI Biologics, Inc		737
	704,884		Ryman Healthcare Ltd		4,154
	31,736		Sartorius AG.		2,783
	25,634		Sartorius Stedim Biotech		1,726
	40,875	*,e	Second Sight Medical Products, Inc		49
	480,000		Selcuk Ecza Deposu Ticaret ve Sanayi AS		441
	208,406	*	Select Medical Holdings Corp		2,782
	56,783	*,e	Senseonics Holdings, Inc		102
	2,100,415		Shandong Weigao Group Medical Polymer Co Ltd		1,504
	778,740	e	Shanghai Pharmaceuticals Holding Co Ltd		2,040
	84,845	e	Sienna Senior Living, Inc		1,105
	2,519,278		Sigma Pharmaceuticals Ltd		2,481
	1,253,471		Sinopharm Group Co		5,819
	704,330		Smith & Nephew plc		10,724
	1,514,724		Sonic Healthcare Ltd		25,590
	85,646	*	Spectranetics Corp		2,494
	480,046	g	Spire Healthcare Group plc		1,948
	38,000		St. Shine Optical Co Ltd		771
	82,662	*,e	Staar Surgical Co		810
	133,716		STERIS plc		9,288
	9,523		STRATEC Biomedical AG.		571
	28,420		Straumann Holding AG.		13,173
	510,227		Stryker Corp		67,171
	5,219		Suheung Capsule Co Ltd		172
	484,554	e	Summerset Group Holdings Ltd		1,756
	1,024,100		Supermax Corp BHD		461
	37,903	*	Surgery Partners, Inc		739
	41,812	*	SurModics, Inc		1,006
	149,786		Suzuken Co Ltd		4,922
	74,253		Sysmex Corp		4,518
	8,131	*,e	Tabula Rasa HealthCare, Inc		110
	7,385	*,e	Tactile Systems Technology, Inc		140
	48,300	*,e	Teladoc, Inc		1,207
	91,386		Teleflex, Inc		17,704
	273,613	*,e	Tenet Healthcare Corp		4,846
	197,312		Terumo Corp		6,859
	132,558	*	Tivity Health, Inc		3,857
	150,700	e	Toho Pharmaceutical Co Ltd		3,163
	7,900		Tokai Corp (GIFU)		289
	2,164,500		Top Glove Corp BHD		2,406
	3,342,000	e	Town Health International Medical Group Ltd		533
	143,499	*,e	TransEnterix, Inc		174
	133,967	*	Triple-S Management Corp (Class B)		2,354
	40,700	e	Tsuki Corp		241
	796,502		United Drug plc		6,994
	2,733,501		UnitedHealth Group, Inc		448,322
	80,637		Universal American Corp		804
	538,866		Universal Health Services, Inc (Class B)		67,062
	2,539,000	e,g	Universal Medical Financial & Technical Advisory Services Co Ltd		2,304
	56,395		US Physical Therapy, Inc		3,683

86

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,011		Utah Medical Products, Inc	$	499
	6,693		Value Added Technologies Co Lt		168
	90,760	*	Varex Imaging Corp		3,050
	133,061	*	Varian Medical Systems, Inc		12,126
	124,960	*	VCA Antech, Inc		11,434
	469,109	*	Veeva Systems, Inc		24,056
	3,976,600		Vibhavadi Medical Center PCL (Foreign)		343
	6,347		Vieworks Co Ltd		366
	11,242	*,e	ViewRay, Inc		96
	315,553	e	Virtus Health Ltd		1,394
	91,000		VITAL KSK Holdings, Inc		845
	48,295	*	Vocera Communications, Inc		1,199
	365,029	*	WellCare Health Plans, Inc		51,181
	16,200	g	Wenzhou Kangning Hospital Co Ltd		76
	80,617		West Pharmaceutical Services, Inc		6,579
	86,178	*	William Demant Holding A.S.		1,801
	204,602	*	Wright Medical Group NV		6,367
	9,483		Ypsomed Holding AG.		1,803
	70,486	*	Zeltiq Aesthetics, Inc		3,920
	463,284		Zimmer Holdings, Inc		56,572
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		4,687,851
HOUSEHOLD & PERSONAL PRODUCTS - 1.6%
	56,977		Able C&C Co Ltd		1,254
	36,439		Amorepacific Corp		9,147
	9,732		Amorepacific Corp (Preference)		1,453
	301,166		Asaleo Care Ltd		405
	902,669	*	Avon Products, Inc		3,972
	60,374		Bajaj Corp Ltd		367
	76,247		Beiersdorf AG.		7,215
	7,508		Bioland Ltd		111
	10,019	e	Blackmores Ltd		861
	206,328	*,e	Central Garden & Pet Co		7,649
	103,647	*	Central Garden and Pet Co (Class A)		3,599
	33,000		Chlitina Holding Ltd		157
	493,600		Church & Dwight Co, Inc		24,616
	53,089	*	CKH Food & Health Ltd		71
	377,555		Clorox Co		50,906
	3,324,320		Colgate-Palmolive Co		243,307
	19,891		Coreana Cosmetics Co Ltd		102
	3,502		Cosmax BTI, Inc		100
	5,547		Cosmax, Inc		674
	12,110	*	COSON Co Ltd		130
	627,108		Coty, Inc		11,369
	842,591		Dabur India Ltd		3,599
	52,100		Dr Ci:Labo Co Ltd		1,548
	10,100		Earth Chemical Co Ltd		544
	137,486	*	Edgewell Personal Care Co		10,056
	194,424		EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS		197
	16,701	*,e	elf Beauty, Inc		481
	326,414		Energizer Holdings, Inc		18,198

87

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,848,209		Estee Lauder Cos (Class A)	$	156,710
	47,900	*,e	Euglena Co Ltd		529
	33,849		Eveready Industries India Ltd		137
	147,700	e	Fancl Corp		2,130
	10,488		Gillette India Ltd		681
	190,941		Godrej Consumer Products Ltd		4,916
	139,000	g	Golden Throat Holdings Group Co Ltd		51
	83,000		Grape King Industrial Co		522
	1,338,147		Hengan International Group Co Ltd		9,958
	45,774		Henkel KGaA		5,090
	298,921		Henkel KGaA (Preference)		38,314
	140,177	*,e	Herbalife Ltd		8,150
	1,128,406		Hindustan Lever Ltd		15,844
	234,542	*	HRG Group, Inc		4,531
	24,851		Inter Parfums S.A.		824
	34,297		Inter Parfums, Inc		1,254
	3,445		It’s Skin Co Ltd		130
	63,325		Jyothy Laboratories Ltd		344
	641,809		Kao Corp		35,246
	238,350		Karex BHD		116
	892,447		Kimberly-Clark Corp		117,473
	1,625,016		Kimberly-Clark de Mexico S.A. de C.V. (Class A)		3,526
	45,300		Kobayashi Pharmaceutical Co Ltd		2,200
	8,715		Kolmar BNH Co Ltd		133
	11,171		Korea Kolmar Co Ltd		751
	5,689		Korea Kolmar Holdings Co Ltd		149
	25,000		Kose Corp		2,272
	10,596		LG Household & Health Care Ltd		7,687
	2,274		LG Household & Health Care Ltd (Preference)		1,037
	32,796	*,e	Lifevantage Corp		176
	485,000		Lion Corp		8,741
	605,688		L’Oreal S.A.		116,497
	41,179		Mandom Corp		1,938
	433,201		Marico Ltd		1,967
	101,471		Medifast, Inc		4,502
	317,924	*	Microbio Co Ltd		231
	9,400		Milbon Co Ltd		473
	187,798		Natura Cosmeticos S.A.		1,740
	14,081	e	Natural Health Trends Corp		407
	26,293		Nature’s Sunshine Products, Inc		263
	12,300		Noevir Holdings Co Ltd		510
	318,762		Nu Skin Enterprises, Inc (Class A)		17,704
	23,765		Nutraceutical International Corp		740
	9,130	*	NUTRIBIOTECH Co Ltd		177
	1,045,000		NVC Lighting Holdings Ltd		128
	11,928		Oil-Dri Corp of America		445
	94,972		Ontex Group NV		3,048
	16,738	e	Orchids Paper Products Co		402
	61,206	*	Oriflame Holding AG.		2,448
	31,559		Pacific Corp		3,374
	241,100		Pigeon Corp		7,736
	201,200		Pola Orbis Holdings, Inc		4,861
	6,657,762		Procter & Gamble Co		598,200

88

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,775,600		PT Industri Jamu Dan Farmasi Sido Muncul Tbk	$	330
	1,481,129		PT Unilever Indonesia Tbk		4,816
	215,017		PZ Cussons plc		865
	572,841		Reckitt Benckiser Group plc		52,296
	23,327	*	Revlon, Inc (Class A)		650
	9,594	*	Sansung Life & Science Co Ltd		132
	271,891		Shiseido Co Ltd		7,156
	133,781	e	Spectrum Brands, Inc		18,597
	478,401		Svenska Cellulosa AB (B Shares)		15,417
	43,000		TCI Co Ltd		243
	5,482		Tonymoly Co Ltd		99
	429,099		Uni-Charm Corp		10,312
	2,814,846		Unilever NV		139,844
	1,455,311		Unilever plc		71,786
	85,050	*	USANA Health Sciences, Inc		4,899
	426,000	e	Vinda International Holdings Ltd		817
	27,615		WD-40 Co		3,009
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		1,930,769
INSURANCE - 4.1%
	141,102		Admiral Group plc		3,516
	569,545		Aegon NV		2,901
	454,255		Aflac, Inc		32,897
	83,948		Ageas		3,278
	14,096,114		AIA Group Ltd		88,974
	15,392	*	Alleghany Corp		9,461
	649,962		Allianz AG.		120,533
	377,808		Allied World Assurance Co Holdings Ltd		20,062
	1,055,480		Allstate Corp		86,011
	159,168		Alm Brand AS		1,290
	141,534	*	AMBAC Financial Group, Inc		2,669
	424,580		American Equity Investment Life Holding Co		10,033
	108,871		American Financial Group, Inc		10,388
	6,441,865		American International Group, Inc		402,166
	10,606		American National Insurance Co		1,252
	55,616		Amerisafe, Inc		3,610
	340,446	e	Amtrust Financial Services, Inc		6,285
	100,191		Anadolu Hayat Emeklilik AS		139
	250,714		Anadolu Sigorta		166
	11,100	e	Anicom Holdings, Inc		235
	222,049		Aon plc		26,355
	200,623	*	Arch Capital Group Ltd		19,013
	472,900		Argo Group International Holdings Ltd		32,063
	128,749		Arthur J. Gallagher & Co		7,279
	195,955		Aspen Insurance Holdings Ltd		10,199
	156,475	*	ASR Nederland NV		4,460
	892,829		Assicurazioni Generali S.p.A.		14,166
	61,213		Assurant, Inc		5,856
	239,797		Assured Guaranty Ltd		8,899
	1,631,127	*,e	Athene Holding Ltd		81,540
	21,109	*	Atlas Financial Holdings, Inc		288
	7,432,920		Aviva plc		49,600

89

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	26,426		AvivaSA Emeklilik ve Hayat AS.	$	136
	3,927,021		AXA S.A.		101,458
	137,303		Axis Capital Holdings Ltd		9,203
	34,699		Bajaj Finserv Ltd		2,190
	27,485		Baldwin & Lyons, Inc (Class B)		672
	11,000		Baloise Holding AG.		1,512
	800,574		BB Seguridade Participacoes S.A.		7,467
	1,202,442		Beazley plc		6,439
	4,774,378	*	Berkshire Hathaway, Inc (Class B)		795,793
	14,909		Blue Capital Reinsurance Holdings Ltd		288
	181,280		Brown & Brown, Inc		7,563
	10,745,316		Cathay Financial Holding Co Ltd		17,247
	165,156		Chesnara plc		744
	4,311,694	*	China Insurance International Holdings Co Ltd		10,449
	11,716,790		China Life Insurance Co Ltd		35,848
	20,041,779		China Life Insurance Co Ltd (Taiwan)		19,819
	3,093,839		China Pacific Insurance Group Co Ltd		11,182
	3,482,574		Chubb Ltd		474,501
	134,862		Cincinnati Financial Corp		9,747
	91,904	*,e	Citizens, Inc (Class A)		683
	15,255	*	Clal Insurance		240
	37,102		CNA Financial Corp		1,639
	271,407		CNP Assurances		5,519
	564,641		Conseco, Inc		11,575
	9,780,000	*	Convoy Financial Holdings Ltd		258
	1,659,199		Corp Mapfre S.A.		5,683
	277,625		Cover-More Group Ltd		412
	60,105	e	Crawford & Co (Class B)		603
	4,764,811		Dai-ichi Mutual Life Insurance Co		85,287
	358,968		Delta Lloyd NV		2,044
	1,748,561		Direct Line Insurance Group plc		7,608
	405,931		Discovery Holdings Ltd		3,897
	28,417		Donegal Group, Inc (Class A)		501
	52,184		Dongbu Insurance Co Ltd		2,987
	20,000	e	Dream Incubator, Inc		396
	62,976	*	eHealth, Inc		758
	18,367		EMC Insurance Group, Inc		515
	83,791		Employers Holdings, Inc		3,180
	22,349	*	Enstar Group Ltd		4,275
	45,229	e	Erie Indemnity Co (Class A)		5,550
	688,944		esure Group plc		2,025
	25,167		Euler Hermes S.A.		2,311
	90,530		Everest Re Group Ltd		21,167
	17,404		Fairfax Financial Holdings Ltd		7,920
	18,794		FBL Financial Group, Inc (Class A)		1,230
	68,394		Federated National Holding Co		1,192
	44,518	e	Fidelity & Guaranty Life		1,238
	326,736		First American Financial Corp		12,834
	602,800		FNF Group		23,473
	1,382,724		Fondiaria-Sai S.p.A		3,054
	46,600		FPC Par Corretora de Seguros S.A.		264
	1,369,427	*	Genworth Financial, Inc (Class A)		5,642
	169,162		Gjensidige Forsikring BA		2,577

90

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,942	*	Global Indemnity Ltd	$	1,114
	415,412		Great-West Lifeco, Inc		11,511
	55,776	*	Greenlight Capital Re Ltd (Class A)		1,233
	134,412		Grupo Catalana Occidente S.A.		4,769
	49,183	*	Hallmark Financial Services		544
	157,059		Hannover Rueckversicherung AG.		18,098
	51,477		Hanover Insurance Group, Inc		4,636
	140,172		Hanwha Non-Life Insurance Co Ltd		873
	321,384		Harel Insurance Investments & Finances Ltd		1,694
	1,484,110		Hartford Financial Services Group, Inc		71,341
	101,396	g	Hastings Group Holdings Ltd		344
	17,774	e	HCI Group, Inc		810
	5,004		Helvetia Holding AG.		2,771
	215,329		Heritage Insurance Holdings, Inc		2,750
	549,592		Hiscox Ltd		7,533
	78,842		Horace Mann Educators Corp		3,236
	351,750		Hyundai Marine & Fire Insurance Co Ltd		11,010
	13,481		IDI Insurance Co Ltd		669
	16,460		Independence Holding Co		306
	186,462		Industrial Alliance Insurance and Financial Services, Inc		8,080
	48,534		Infinity Property & Casualty Corp		4,635
	3,119,745		Insurance Australia Group Ltd		14,415
	239,069		Intact Financial Corp		17,003
	2,780		Investors Title Co		440
	71,464		James River Group Holdings Ltd		3,063
	410,900		Japan Post Holdings Co Ltd		5,167
	1,800	e	Japan Post Insurance Co Ltd		41
	361,645		Just Retirement Group plc		596
	79,678		Kemper Corp		3,179
	62,203		Kinsale Capital Group, Inc		1,993
	776,701		Korea Life Insurance Co Ltd		4,195
	73,791		Korean Reinsurance Co		765
	147,100	e	Lancashire Holdings Ltd		1,240
	16,275,389		Legal & General Group plc		50,396
	389,250	e	Liberty Holdings Ltd		3,131
	92,485		LIG Insurance Co Ltd		2,233
	1,870,447		Lincoln National Corp		122,421
	248,387		Loews Corp		11,617
	366,000		Long Bon International Co Ltd		197
	46,768		Lotte Non-Life Insurance Co Ltd		104
	205,499		Maiden Holdings Ltd		2,877
	2,622,620		Manulife Financial Corp		46,522
	12,255	*	Markel Corp		11,959
	1,429,206		Marsh & McLennan Cos, Inc		105,604
	27,574		Max India Ltd		245
	203,409	*	Max India Ltd (New)		473
	260,926	*	MBIA, Inc		2,210
	4,153,042		Medibank Pvt Ltd		8,945
	19,010	*	Menorah Mivtachim Holdings Ltd		213
	702,238		Mercuries & Associates Holding Ltd		585
	650,803		Mercuries Life Insurance Co Lt		356
	34,014	e	Mercury General Corp		2,075

91

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	45,468		Meritz Fire & Marine Insurance Co Ltd	$	650
	3,042,404		Metlife, Inc		160,700
	987,168		Metropolitan Holdings Ltd		1,684
	874,392	*	Migdal Insurance Holdings Ltd		845
	265,914		Mirae Asset Life Insurance Co Ltd		1,402
	896,498		Mitsui Sumitomo Insurance Group Holdings, Inc		28,635
	67,360		Muenchener Rueckver AG.		13,186
	289,867		National General Holdings Corp		6,887
	4,287		National Western Life Group, Inc		1,304
	80,453		Navigators Group, Inc		4,369
	908,082		New China Life insurance Co Ltd		4,330
	906,899		NKSJ Holdings, Inc		33,318
	111,002		NN Group NV		3,605
	1,254,271		Old Mutual plc		3,157
	296,180		Old Republic International Corp		6,066
	90,338		OneBeacon Insurance Group Ltd (Class A)		1,445
	28,114	*,e	Patriot National, Inc		79
	23,698,288		People’s Insurance Co Group of China Ltd		9,829
	273,701		Phoenix Group Holdings		2,565
	115,784	*	Phoenix Holdings Ltd		463
	5,915,526		PICC Property & Casualty Co Ltd		9,130
	7,055,726		Ping An Insurance Group Co of China Ltd		39,543
	100,874		Porto Seguro S.A.		915
	657,109	g	Poste Italiane S.p.A		4,377
	600,599		Power Corp Of Canada		14,109
	592,958		Power Financial Corp		15,682
	625,200		Powszechny Zaklad Ubezpieczen S.A.		5,483
	93,117		Primerica, Inc		7,654
	470,363		Principal Financial Group		29,685
	192,844		ProAssurance Corp		11,619
	4,039,236		Progressive Corp		158,257
	47,061	e	Protector Forsikring ASA		349
	535,077		Prudential Financial, Inc		57,082
	5,500,340		Prudential plc		116,185
	57,256,000	*	PT Panin Insurance Tbk		3,158
	281,594,600	*	PT Panin Life Tbk		4,481
	146,694		Qatar Insurance Co SAQ		2,832
	1,408,220		QBE Insurance Group Ltd		13,864
	162,900	e	Qualitas Controladora SAB de C.V.		265
	671,390	e	Rand Merchant Investment Holdings Ltd		2,065
	152,003		Reinsurance Group of America, Inc (Class A)		19,301
	85,783		RenaissanceRe Holdings Ltd		12,409
	74,966		RLI Corp		4,499
	1,276,672		RSA Insurance Group plc		9,376
	27,945		Safety Insurance Group, Inc		1,959
	1,988,721		Saga plc		5,056
	1,162,483		Sampo Oyj (A Shares)		55,161
	37,449		Samsung Fire & Marine Insurance Co Ltd		8,979
	78,123		Samsung Life Insurance Co Ltd		7,579
	2,049,902	e	Sanlam Ltd		10,286
	58,053		SCOR SE		2,194
	126,138		Selective Insurance Group, Inc		5,947
	7,511,361	*	Shin Kong Financial Holding Co Ltd		2,190

92

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	245,000		Shinkong Insurance Co Ltd	$	207
	124,318		Societa Cattolica di Assicurazioni SCRL		996
	362,641	e	Sony Financial Holdings, Inc		5,824
	547,558		St. James’s Place plc		7,289
	461,645		Standard Life plc		2,053
	29,283		State Auto Financial Corp		804
	114,142		State National Cos, Inc		1,644
	920,517		Steadfast Group Ltd		1,786
	44,618		Stewart Information Services Corp		1,971
	1,593,452	*	Storebrand ASA		10,597
	186,194		Sul America SA		993
	666,544		Sun Life Financial, Inc		24,339
	1,483,940		Suncorp-Metway Ltd		14,975
	41,304		Swiss Life Holding		13,319
	472,006		Swiss Re Ltd		42,394
	255,200		Syarikat Takaful Malaysia BHD		229
	985,842		T&D Holdings, Inc		14,289
	260,000		Taiwan Fire & Marine Insurance Co		163
	2,600,200		Thai Reinsurance PCL		150
	2,914,856	*	Third Point Reinsurance Ltd		35,270
	1,430,987		Tokio Marine Holdings, Inc		60,480
	31,351		Tong Yang Life Insurance		287
	40,454	*	Topdanmark AS		1,026
	122,474		Torchmark Corp		9,435
	337,452		Travelers Cos, Inc		40,676
	38,170	*,e	Trupanion, Inc		543
	26,857		Tryg A.S.		487
	239,300		Tune Ins Holdings BHD		76
	1,783,852		Unipol Gruppo Finanziario S.p.A		7,366
	396,955		Uniqa Versicherungen AG.		3,080
	72,268		United Fire & Casualty Co		3,091
	93,898		United Insurance Holdings Corp		1,498
	169,730	e	Universal Insurance Holdings, Inc		4,158
	301,433		UnumProvident Corp		14,134
	238,372		Validus Holdings Ltd		13,442
	774,470		W.R. Berkley Corp		54,701
	8,580		White Mountains Insurance Group Ltd		7,549
	73,753		Wiener Staedtische Allgemeine Versicherung AG.		1,784
	800		Willis Towers Watson plc		105
	18,315		Wuestenrot & Wuerttembergische AG.		363
	383,601		XL Group Ltd		15,290
	416,691		Zurich Financial Services AG.		111,198
			TOTAL INSURANCE		4,844,847
MATERIALS - 5.1%
	56,281		A. Schulman, Inc		1,770
	19,968		Aarti Industries		235
	137,305		Acerinox S.A.		1,919
	11,999		Achilles Corp		181
	38,885		Acron JSC (GDR)		222
	227,200		ADEKA Corp		3,320
	353,751		Adelaide Brighton Ltd		1,534

93

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,076	*	Advanced Enzyme Technologies Ltd	$	161
	105,035		Advanced Metallurgical Group NV		2,431
	68,020	*	AdvanSix, Inc		1,858
	97,151		Aeci Ltd		835
	127,235		African Barrick Gold Ltd		716
	89,358		African Rainbow Minerals Ltd		632
	197,234		Agnico-Eagle Mines Ltd		8,368
	411,507	e	Agrium, Inc		39,274
	52,968	*,e	AgroFresh Solutions, Inc		231
	8,700		Aichi Steel Corp		347
	73,295		Air Liquide		8,369
	272,975	n	Air Products & Chemicals, Inc		36,931
	38,822		Air Water, Inc		718
	3,979		AK Holdings, Inc		211
	8,228,044	*,e	AK Steel Holding Corp		59,160
	43,632		Akcansa Cimento AS		151
	10,131		Akzo Nobel India Ltd		298
	760,079		Akzo Nobel NV		62,922
	231,508	e	Alamos Gold, Inc		1,859
	472,707		Albemarle Corp		49,937
	324,576		Alcoa Corp		11,165
	108,188		Alexandria Mineral Oils Co		628
	213,594	e	Allegheny Technologies, Inc		3,836
	33,064	e	Altius Minerals Corp		306
	540,291		Altri SGPS S.A.		2,413
	1,688,772	e	Alumina Ltd		2,311
	5,333,445	*	Aluminum Corp of China Ltd		2,610
	720,200		Ambuja Cements Ltd		2,625
	1,189,588		Amcor Ltd		13,683
	69,027		American Vanguard Corp		1,146
	16,723		Ampco-Pittsburgh Corp		235
	4,759,000		AMVIG Holdings Ltd		1,592
	1,203,000	*	Anadolu Cam Sanayii AS		1,055
	235,373	*	Anatolia Minerals Development Ltd		476
	71,224	*	Anglo American Platinum Ltd		1,623
	2,293,191	*	Anglo American plc (London)		35,038
	496,215	e	AngloGold Ashanti Ltd		5,303
	1,385,369		Anhui Conch Cement Co Ltd		4,712
	352,494		Antofagasta plc		3,680
	166,449	e	APERAM		8,299
	56,533		Aptargroup, Inc		4,352
	6,289,518	*	ArcelorMittal		52,619
	433,246		Arkema		42,649
	25,974		Asahi Holdings, Inc		471
	1,197,255		Asahi Kasei Corp		11,633
	191,327	*,e	Asanko Gold, Inc		502
	1,265,576		Ashland Global Holdings, Inc		156,691
	934,500		Asia Cement China Holdings Corp		277
	1,164		Asia Cement Co Ltd		82
	2,379,024		Asia Cement Corp		2,400
	105,587		Asia Polymer		64
	430,265		Asian Paints Ltd		7,110
	45,720		Associated Cement Co Ltd		1,018

94

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	69,676		Assore Ltd	$	1,269
	3,789		Atul Ltd		140
	44,870	e	Aurubis AG.		3,009
	288,665		Avery Dennison Corp		23,266
	1,560,059	*	Axalta Coating Systems Ltd		50,234
	1,838,332	*	B2Gold Corp		5,239
	61,709		Balchem Corp		5,086
	208,245		Ball Corp		15,464
	1,556,207		Barrick Gold Corp (Canada)		29,560
	8,536		BASF India Ltd		180
	605,737		BASF SE		59,976
	15,180		Bayer CropScience Ltd		887
	12,000,000		BBMG Corp		4,993
	83,351		Bekaert S.A.		4,070
	95,435		Bemis Co, Inc		4,663
	274,500	*	Bengang Steel Plates Co		101
	2,926,320	*	Berry Plastics Group, Inc		142,131
	3,747,995		BHP Billiton Ltd		68,162
	3,941,823		BHP Billiton plc		60,798
	502,027		Billerud AB		8,089
	1,230,327		BlueScope Steel Ltd		11,534
	194,780	*	Boise Cascade Co		5,201
	556,072		Boliden AB		16,552
	1,362,362		Boral Ltd		6,074
	250,843		Borregaard ASA		2,813
	35,346		Borusan Mannesmann Boru Sanayi		88
	209,918		Boryszew S.A.		592
	26		BRAAS Monier Building Group S.A.		1
	185,000		Bradespar S.A.		1,294
	172,175		Braskem S.A.		1,746
	166,223		Brickworks Ltd		1,864
	51,251		Buzzi Unicem S.p.A.		1,310
	36,295		Buzzi Unicem S.p.A. RSP		525
	121,138		Cabot Corp		7,257
	464,300		Cahya Mata Sarawak BHD		442
	217,736		Calgon Carbon Corp		3,179
	33,326	e	Canam Group, Inc		166
	263,070	*	Canfor Corp		3,586
	69,624		Canfor Pulp Products, Inc		633
	62,633		CAP S.A.		738
	91,790		Carpenter Technology Corp		3,424
	180,982		Cascades, Inc		1,866
	72,585		CCL Industries		15,836
	256,023		Celanese Corp (Series A)		23,004
	123,039		Cementir S.p.A.		664
	342,525		Cementos Argos S.A.		1,406
	2,029,900	*	CEMEX Holdings Philippines, Inc		284
	235,171	*	Cemex Latam Holdings S.A.		867
	26,901,806	*	Cemex S.A. de C.V.		24,355
	2,929,913		Centamin plc		6,338
	169,456		Centerra Gold, Inc		975
	106,993	*	Century Aluminum Co		1,358

95

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	44,728		Century Plyboards India Ltd	$	179
	17,342		Century Textile & Industries Ltd		281
	229,841	e	CF Industries Holdings, Inc		6,746
	27,632		Chase Corp		2,636
	455,797		Chemours Co		17,548
	124,865	*	Chemtura		4,171
	1,507,560		Cheng Loong Corp		755
	322,000	*,e	Chiho-Tiande Group Ltd		193
	5,214,695		China BlueChemical Ltd		1,679
	4,584,000	*,e	China Daye Non-Ferrous Metals Mining Ltd		72
	1,942,000		China General Plastics Corp		1,804
	72,000		China Hi-ment Corp		131
	929,250		China Manmade Fibers Corp		256
	625,372		China Metal Products		640
	858,455	*,e,m	China Metal Recycling Holdings Ltd		1
	3,393,282		China National Building Material Co Ltd		2,186
	984,000		China National Materials Co Ltd		325
	1,714,628	*	China Petrochemical Development Corp		655
	5,574,000	*	China Precious Metal Resources Holdings Co Ltd		138
	6,683,200	*,e,m	China Shanshui Cement Group Ltd		430
	3,990,000	e	China Silver Group Ltd		776
	130,000		China Steel Chemical Corp		506
	13,726,303		China Steel Corp		11,445
	239,540		China Synthetic Rubber Corp		232
	292,000	*	China Wood Optimization Holding Ltd		88
	456,000		China XLX Fertiliser Ltd		133
	438,000	*,e	Chongqing Iron & Steel Co Ltd		114
	83,521		Christian Hansen Holding		5,358
	44,000	e	Chugoku Marine Paints Ltd		327
	13,540		Chung Hwa Pulp Corp		5
	376,571		Cia de Minas Buenaventura S.A. (ADR) (Series B)		4,534
	1,120,048	*	Cia Siderurgica Nacional S.A.		3,259
	30,673		Ciech S.A.		619
	131,066		Cimsa Cimento Sanayi Ve Tica		557
	319,299		Clariant AG.		6,023
	44,487	*	Clearwater Paper Corp		2,491
	1,276,932	*	Cliffs Natural Resources, Inc		10,484
	78,756	*	Codexis, Inc		378
	651,826	*,e	Coeur Mining, Inc		5,267
	230,402		Commercial Metals Co		4,408
	86,132	*,m	Companhia Vale do Rio Doce		0
	120,000		Companhia Vale do Rio Doce (ADR)		1,140
	91,764	e	Compass Minerals International, Inc		6,226
	65,582		Corbion NV		1,794
	105,767		Coromandel International Ltd		508
	64,586		Corticeira Amorim SGPS S.A.		689
	365,620	g	Covestro AG.		28,167
	346,000		CPMC Holdings Ltd		204
	1,937,595		CRH plc		68,279
	84,233	*	Croda International plc		3,762
	731,700	*	Crown Holdings, Inc		38,744
	1,889,184		CSR Ltd		6,506
	2,208,800		D&L Industries Inc		560

96

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	366,000	*	Da Ming International Holdings Ltd	$	176
	84,900	*	Dahua Group Dalian Chemical Industry Co		58
	443,399		Daicel Chemical Industries Ltd		5,354
	221,000		Daido Steel Co Ltd		1,059
	20,900		Daiken Corp		387
	133,857		Dainichiseika Color & Chemicals Manufacturing Co Ltd		906
	227,000		Dainippon Ink and Chemicals, Inc		8,394
	188,572	e	Daio Paper Corp		2,412
	49,000		Daiso Co Ltd		219
	30,267		Dalmia Bharat Ltd		917
	189,200	*	Danhua Chemical Technology Co Ltd		98
	20,834		Deltic Timber Corp		1,628
	695,000		Denki Kagaku Kogyo KK		3,615
	135,398	*	Detour Gold Corp		1,552
	10,699		Dhanuka Agritech Ltd		131
	92,317		Dominion Diamond Corp		1,168
	161,878		Domtar Corp		5,912
	25,107	e	Dongjin Semichem Co Ltd		210
	273,252		Dongkuk Steel Mill Co Ltd		3,131
	2,608		Dongwha Enterprise Co Ltd		75
	2,946,000	m	Dongyue Group		390
	7,008,517		Dow Chemical Co		445,321
	520,000		Dowa Holdings Co Ltd		3,741
	1,759,908		DS Smith plc		9,575
	75,777		DSM NV		5,125
	4,917	*	Duk San Neolux Co Ltd		117
	302,644		DuluxGroup Ltd		1,509
	285,036		Eagle Materials, Inc		27,688
	619,800		Eastern Polymer Group PCL		242
	213,956		Eastman Chemical Co		17,288
	159,344		Ecolab, Inc		19,972
	1,054,875		EI du Pont de Nemours & Co		84,738
	112,917		EID Parry India Ltd		493
	135,118	*	El Ezz Steel Co		151
	536,195		Eldorado Gold Corp		1,835
	359,069		Elementis plc		1,301
	3,121,857		Empresas CMPC S.A.		7,618
	3,970		EMS-Chemie Holding AG.		2,312
	614,764	e	Ence Energia y Celulosa S.A.		1,894
	50,377	*	Endeavour Mining Corp		977
	99,449	*,e	Endeavour Silver Corp		316
	16,803	*	Eramet		718
	2,727,861		Eregli Demir ve Celik Fabrikalari TAS		4,430
	12,225		Essel Propack Ltd		45
	220,354	e	Essentra plc		1,449
	717,030		Eternal Chemical Co Ltd		780
	181,500		Eugene Corp		893
	250,128		Everlight Chemical Industrial Corp		169
	922,419		Evolution Mining Ltd		1,483
	222,875		Evonik Industries AG.		7,265
	311,560	*	Evraz plc		845
	817,050		Feng Hsin Iron & Steel Co		1,395

97

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	296,694		Ferrexpo plc	$	622
	241,571	*	Ferro Corp		3,669
	129,198		Ferroglobe plc		1,335
	653,830		Fibria Celulose S.A.		6,030
	29,001		Finolex Industries Ltd		259
	127,554	*,e	First Majestic Silver Corp		1,035
	1,427,772		First Quantum Minerals Ltd		15,170
	4,464,718		Fletcher Building Ltd		26,009
	105,247	*,e	Flotek Industries, Inc		1,346
	452,065		FMC Corp		31,459
	43,882	*,e	Foosung Co Ltd		286
	9,690,354		Formosa Chemicals & Fibre Corp		30,147
	4,675,176		Formosa Plastics Corp		13,941
	300,800		Formosan Rubber Group, Inc		168
	63,370		Forterra plc		167
	33,737	*,e	Forterra, Inc		658
	9,058,837		Fortescue Metals Group Ltd		43,149
	123,575	*	Fortuna Silver Mines, Inc		643
	169,791	m	Foshan Huaxin Packaging Co Ltd		206
	27,700		FP Corp		1,295
	253,105		Franco-Nevada Corp		16,581
	4,510,482	*	Freeport-McMoRan Copper & Gold, Inc (Class B)		60,260
	481,255		Fresnillo plc		9,377
	7,068		Frutarom Industries Ltd		395
	57,013		Fuchs Petrolub AG. (Preference)		2,779
	2,621,200	e	Fufeng Group Ltd		2,113
	83,800		Fuji Seal International, Inc		1,816
	12,900		Fujimi, Inc		260
	11,200		Fujimori Kogyo Co Ltd		313
	1,457,000		Furukawa-Sky Aluminum Corp		3,828
	1,939,800	e	Fushan International Energy Group Ltd		357
	34,000		Fuso Chemical Co Ltd		1,066
	12,208,000	*	Future World Financial Holdings Ltd		943
	64,116		FutureFuel Corp		909
	1,671,799	*,e	Galaxy Resources Ltd		581
	1,342,986	*	GCP Applied Technologies, Inc		43,849
	54,206		Gem Diamonds Ltd		64
	1,876,812		Gerdau S.A. (Preference)		6,529
	2,379	e	Givaudan S.A.		4,285
	21,276,949	*	Glencore Xstrata plc		83,481
	409,959		Gloria Material Technology Corp		276
	6,900		Godo Steel Ltd		108
	84,595		Godrej Industries Ltd		658
	3,818,419		Gold Fields Ltd		13,306
	90,495	*,e	Gold Resource Corp		409
	656,819		Goldcorp, Inc		9,582
	7,364,418		Goldsun Development & Construction Co Ltd		2,048
	5,968,000		Grand Pacific Petrochemical		4,149
	70,394		Granges AB		643
	1,459,400		Graphic Packaging Holding Co		18,782
	372,357		Grasim Industries Ltd		6,015
	605,755	*,m	Great Basin Gold Ltd		5
	1,929,000		Greatview Aseptic Packaging Co		966

98

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	29,000		Green Seal Holding Ltd	$	158
	31,987		Greenply Industries Ltd		137
	11,405		Greif, Inc		745
	49,996		Greif, Inc (Class A)		2,754
	55,211,638		G-Resources Group Ltd		1,045
	272,271		Grupo Argos S.A.		1,917
	7,096,744		Grupo Mexico S.A. de C.V. (Series B)		21,333
	75,024		Gubre Fabrikalari TAS		94
	32,353		Gujarat Flourochemicals		379
	162,908		Gujarat Narmada Valley Fertilizers Co Ltd		720
	949		Gurit Holding AG.		820
	579,201	*	Guyana Goldfields, Inc		3,132
	35,085	*	H&R WASAG AG.		566
	140,308		H.B. Fuller Co		7,234
	86,918		Han Kuk Carbon Co Ltd		517
	5,847	*	Handy & Harman Ltd		159
	9,630		Hanil Cement Manufacturing		870
	7,650		Hansol Chemical Co Ltd		523
	33,437	*	Hansol Paper Co		188
	61,664		Hansol Paper Co Ltd		1,050
	125,496		Hanwha Chemical Corp		2,965
	913,130		Harmony Gold Mining Co Ltd		2,218
	18,500		Hawkins, Inc		907
	24,242		Haynes International, Inc		924
	143,362	*	Headwaters, Inc		3,366
	1,593,197	e	Hecla Mining Co		8,428
	31,748		HeidelbergCement AG.		2,973
	59,965	*	HeidelbergCement India Ltd		115
	191,445		Hexpol AB		1,963
	1,307,243		Hindalco Industries Ltd		3,928
	201,570		Hitachi Chemical Co Ltd		5,599
	187,334		Hitachi Metals Ltd		2,635
	407,702	*	Ho Tung Chemical Corp		116
	196,328	e	Hochschild Mining plc		683
	143,329		Hokuetsu Paper Mills Ltd		1,002
	363,067		Holcim Ltd		21,421
	74,198	e	Holmen AB (B Shares)		2,887
	25,638		Honam Petrochemical Corp		8,496
	230,331	e	HS Industries Co Ltd		2,256
	27,055		HSIL Ltd		146
	790,000	*,e	Huabao International Holdings Ltd		462
	234,320		Huaxin Cement Co Ltd		181
	157,000		Hubei Sanonda Co Ltd		140
	17,410		Huchems Fine Chemical Corp		369
	578,595		HudBay Minerals, Inc		3,803
	70,901		Huhtamaki Oyj		2,523
	480,000	*	Huili Resources Group Ltd		60
	324,816		Huntsman Corp		7,971
	23,954		Hyosung Corp		2,903
	226,601		Hyundai Steel Co		11,866
	349,668	*	IAMGOLD Corp		1,399
	581,782	g	Ibstock plc		1,515

99

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,700		Ihara Chemical Industry Co Ltd	$	170
	326,822		Iluka Resources Ltd		1,902
	57,056		IMCD Group NV		2,805
	17,099		Imerys S.A.		1,450
	1,118,995	*	Impala Platinum Holdings Ltd		3,775
	39,916	*,e	Imperial Metals Corp		191
	2,366,818		Incitec Pivot Ltd		6,795
	387,706	e	Independence Group NL		1,060
	382,199		India Cements Ltd		956
	1,063,178		Indorama Ventures PCL (Foreign)		1,091
	131,800	*,e	Industrias CH SAB de C.V.		781
	271,016		Industrias Penoles S.A. de C.V.		6,992
	91,179	*	Ingevity Corp		5,548
	262,020		Inner Mongolia Eerduosi Resourses Co Ltd		261
	111,541		Innophos Holdings, Inc		6,020
	101,180		Innospec, Inc		6,551
	179,979	*	Interfor Corp		2,325
	44,985		International Flavors & Fragrances, Inc		5,962
	1,449,997		International Paper Co		73,631
	147,422		Intertape Polymer Group, Inc		2,592
	25,900	*	Ishihara Sangyo Kaisha Ltd		259
	177,971		Israel Chemicals Ltd		755
	11,832		Israel Corp Ltd		2,210
	6,261		Italmobiliare S.p.A.		348
	483,693	*,e	Ivanhoe Mines Ltd		1,688
	31,459	*,m	Jacana Minerals Ltd		5
	309,231		James Hardie Industries NV		4,858
	8,597	*	Jastrzebska Spolka Weglowa S.A.		136
	332,100		Jaya Tiasa Holdings BHD		92
	392,652		JFE Holdings, Inc		6,753
	1,655,445		Jiangxi Copper Co Ltd		2,580
	260,030	*	Jindal Steel & Power Ltd		485
	297,964	*	Jinshan Gold Mines, Inc		598
	8,984		JK Cement Ltd		129
	28,699		JK Lakshmi Cement Ltd		204
	66,296		Johnson Matthey plc		2,558
	37,300		JSP Corp		871
	1,091,265		JSR Corp		18,464
	938,467		JSW Steel Ltd		2,720
	56,137	e	K&S AG.		1,305
	79,994		Kaiser Aluminum Corp		6,392
	209,638		Kaneka Corp		1,568
	187,092		Kansai Nerolac Paints Ltd		1,091
	304,817		Kansai Paint Co Ltd		6,505
	37,000	e	Kanto Denka Kogyo Co Ltd		320
	205,721		Kapstone Paper and Packaging Corp		4,752
	609,755		Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class D)		195
	240,665	*	KAZ Minerals plc		1,371
	78,022	e	Kemira Oyj		958
	263,934		KGHM Polska Miedz S.A.		7,701
	993,465	*	Kinross Gold Corp		3,504
	787,377	*	Kirkland Lake Gold Ltd		5,808

100

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,251		KISCO Corp	$	644
	4,287		KISWIRE Ltd		153
	618,051		Klabin S.A.		2,991
	1,349,700		Klabin S.A. (Preference)		1,155
	437,215	*	Klondex Mines Ltd		1,706
	30,804		KMG Chemicals, Inc		1,419
	24,000		Koatsu Gas Kogyo Co Ltd		154
	350,879	*	Kobe Steel Ltd		3,211
	13,579		Kolon Industries, Inc		860
	60,000		Konishi Co Ltd		724
	851		Konya Cimento Sanayii		65
	165,762	*	Koppers Holdings, Inc		7,020
	45,302		Korea Kumho Petrochemical		3,192
	19,478		Korea Petrochemical Ind Co Ltd		4,269
	9,964		Korea Zinc Co Ltd		3,852
	276,339	*	Koza Altin Isletmeleri AS		1,514
	77,563	*	Kraton Polymers LLC		2,398
	104,748		Kronos Worldwide, Inc		1,721
	4,339		Kukdo Chemical Co Ltd		191
	29,700	e	Kumiai Chemical Industry Co Ltd		169
	416,849		Kuraray Co Ltd		6,341
	29,200		Kureha CORP		1,287
	85,300		Kyoei Steel Ltd		1,529
	205,998	e	Labrador Iron Ore Royalty Corp		2,887
	88,000		Lafarge Malayan Cement BHD		133
	551		LafargeHolcim Ltd		33
	493,834		Lanxess AG.		33,128
	4,593,000		Lee & Man Paper Manufacturing Ltd		3,513
	1,565,448		LEE Chang Yung Chem IND Corp		2,295
	36,086		Lenzing AG.		6,069
	52,970		LG Chem Ltd		13,928
	25,409		LG Chem Ltd (Preference)		4,327
	1,118,334		Linde AG.		186,338
	38,600		Lintec Corp		824
	11,066		Lock & Lock Co Ltd		140
	320,672		Long Chen Paper Co Ltd		276
	219,248	*,e	Lonmin plc		233
	2,196,197	*,e	Louisiana-Pacific Corp		54,510
	41,761	*,e	LSB Industries, Inc		392
	663,740		Lucara Diamond Corp		1,542
	476,000		Luks Group Vietnam Holdings Ltd		168
	772,794	e	Lundin Mining Corp		4,353
	676,086		LyondellBasell Industries AF S.C.A		61,652
	83,136		Madras Cements Ltd		861
	56,421	*	MAG. Silver Corp		739
	28,460	*	Magnesita Refratarios S.A.		229
	63,035	*,e	Major Drilling Group International		335
	154,685		Marshalls plc		683
	44,771		Martin Marietta Materials, Inc		9,771
	43,272		Maruichi Steel Tube Ltd		1,235
	39,247		Materion Corp		1,317
	496,800		Metalurgica Gerdau S.A.		786

101

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	143,470		Methanex Corp	$	6,722
	1,151,943		Mexichem SAB de C.V.		3,140
	851,200	e	Midas Holdings Ltd		143
	930,700	*,e	Minera Frisco SAB de C.V.		619
	399,844		Mineral Resources Ltd		3,282
	130,786		Minerals Technologies, Inc		10,018
	22,031		Miquel y Costas & Miquel S.A.		623
	2,971,365		Mitsubishi Chemical Holdings Corp		23,069
	719,079		Mitsubishi Gas Chemical Co, Inc		14,977
	136,769		Mitsubishi Materials Corp		4,151
	19,700	*	Mitsubishi Paper Mills Ltd		130
	122,000		Mitsubishi Steel Manufacturing Co Ltd		263
	1,795,722		Mitsui Chemicals, Inc		8,896
	704,000		Mitsui Mining & Smelting Co Ltd		2,396
	610,375		MMC Norilsk Nickel PJSC (ADR)		9,581
	1,408,000	*,e	MMG Ltd		525
	23,203		MOIL Ltd		112
	301,063		Mondi Ltd		7,181
	1,244,396		Mondi plc		30,066
	12,981	*,m	Mongolian Metals Corporation		0
	532,593	n	Monsanto Co		60,290
	3,757		Monsanto India Ltd		147
	284,815		Mosaic Co		8,311
	304,400		Mpact Ltd		701
	148,120	e	M-real Oyj (B Shares)		915
	57,326	*	Multi Packaging Solutions International Ltd		1,029
	47,749		Myers Industries, Inc		757
	175,658		Mytilineos Holdings S.A.		1,330
	14,500		Nakayama Steel Works Ltd		95
	11,431		Namhae Chemical Corp		92
	485,227		Nampak Ltd		615
	5,584,071		Nan Ya Plastics Corp		13,230
	689,855		Nantex Industry Co Ltd		555
	69,185		Neenah Paper, Inc		5,168
	23,300		Neturen Co Ltd		190
	235,066		Nevsun Resources Ltd		605
	458,389	*	New Gold, Inc		1,368
	1,281,017		Newcrest Mining Ltd		21,836
	12,212		NewMarket Corp		5,535
	1,195,566		Newmont Mining Corp		39,406
	950,850		Nickel Asia Corp		115
	35,700		Nihon Nohyaku Co Ltd		225
	72,000		Nihon Parkerizing Co Ltd		894
	1,991,902		Nine Dragons Paper Holdings Ltd		2,143
	651,600		Nippon Denko Co Ltd		2,281
	163,000		Nippon Kayaku Co Ltd		2,215
	2,266,600		Nippon Light Metal Holdings Co Ltd		5,003
	190,832		Nippon Paint Co Ltd		6,665
	124,900	e	Nippon Paper Industries Co Ltd		2,248
	20,600		Nippon Shokubai Co Ltd		1,406
	298,000		Nippon Soda Co Ltd		1,651
	833,045		Nippon Steel Corp		19,246
	84,400		Nissan Chemical Industries Ltd		2,462

102

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	45,700	*	Nisshin Steel Holdings Co Ltd	$	604
	13,000		Nittetsu Mining Co Ltd		704
	166,363		Nitto Denko Corp		12,870
	403,921		NOF Corp		4,297
	120,508		Norbord, Inc		3,430
	1,600,777		Norsk Hydro ASA		9,329
	8,850,000	*,e	North Mining Shares Co Ltd		171
	266,469	*	Northam Platinum Ltd		1,021
	507,947		Northern Star Resources Ltd		1,579
	186,358	*	Novagold Resources, Inc		905
	13,799		Novolipetsk Steel (GDR)		274
	41,398		Novozymes AS		1,640
	1,087,146		Nucor Corp		64,924
	725,280		Nufarm Ltd		5,374
	68,217	*,e	Nyrstar NV		424
	1,828,729		OceanaGold Corp		5,418
	19,809	e	OCI Co LTD		1,501
	59,403	*	OCI NV		1,140
	19,589		Oeneo S.A.		180
	664,143		OJI Paper Co Ltd		3,115
	38,000	e	Okamoto Industries, Inc		407
	5,875,461		Olin Corp		193,126
	28,398		Olympic Steel, Inc		527
	51,904		Omnia Holdings Ltd		628
	108,303	*	Omnova Solutions, Inc		1,072
	298,547		Orica Ltd		4,013
	50,772		Orient Cement Ltd		103
	367,000		Oriental Union Chemical Corp		285
	148,389	*,e	Orocobre Ltd		316
	2,382,207		Orora Ltd		5,386
	10,000		Osaka Steel Co Ltd		181
	94,763	e	Osisko Gold Royalties Ltd		1,053
	246,054		Outokumpu Oyj		2,399
	120,977	*	Outotec Oyj		734
	485,914	*	Owens-Illinois, Inc		9,903
	527,717		Oxiana Ltd		3,157
	115,507	e	Pacific Metals Co Ltd		404
	9,600		Pack Corp		272
	319,678		Packaging Corp of America		29,289
	728,576		Pact Group Holdings Ltd		3,895
	298,044		Pan American Silver Corp		5,217
	159,657		Papeles y Cartones de Europa S.A.		1,100
	835,245		Petkim Petrokimya Holding		1,166
	682,978		Petra Diamonds Ltd		1,137
	2,978,616		Petronas Chemicals Group BHD		5,183
	85,183		PH Glatfelter Co		1,852
	128,549		PhosAgro OAO (ADR)		1,868
	74,923		PI Industries Ltd		967
	800,819	*,e	Pilbara Minerals Ltd		260
	417,893	*	Platform Specialty Products Corp		5,441
	238,956		PolyOne Corp		8,146
	6,858		Poongsan		288

103

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	95,124		Poongsan Corp	$	3,328
	1,238,384		Portucel Empresa Produtora de Pasta e Papel S.A.		4,967
	170,423		POSCO		44,263
	78,477		POSCO Refractories & Environment Co Ltd		1,078
	742,352	e	Potash Corp of Saskatchewan		12,683
	1,282,011		PPC Ltd		621
	443,154		PPG Industries, Inc		46,567
	875,179		Praxair, Inc		103,796
	161,431	*,e	Premier Gold Mines Ltd		390
	3,862,940		Press Metal BHD		2,315
	118,567	*,e	Pretium Resources, Inc		1,271
	137,471	*,e	Primero Mining Corp		77
	114,968	*	Prism Cement Ltd		173
	6,743,404	*	PT Aneka Tambang Tbk		369
	1,371,000		PT Holcim Indonesia Tbk		93
	1,547,843		PT Indocement Tunggal Prakarsa Tbk		1,929
	3,041,598	*	PT Krakatau Steel Tbk		144
	8,218,300	*,m	PT Sekawan Intipratama Tbk		0	^
	2,080,700		PT Semen Baturaja Persero Tbk		543
	3,357,238		PT Semen Gresik Persero Tbk		2,267
	2,405,857		PT Timah Tbk		180
	2,248,200		PT Wijaya Karya Beton Tbk		132
	7,038,277		PTT Global Chemical PCL (Foreign)		15,002
	17,785		Qatar National Cement Co		384
	48,000		Quaker Chemical Corp		6,320
	264,380	e	Quintis Ltd		210
	18,994		Rallis India Ltd		76
	211,274	*,e	Ramaco Resources, Inc		2,043
	80,388		Randgold Resources Ltd		7,024
	85,269	e	Rayonier Advanced Materials, Inc		1,147
	54,947	*	Real Industry, Inc		157
	1,519,122		Regis Resources Ltd		3,838
	263,973		Reliance Steel & Aluminum Co		21,123
	951,267		Rengo Co Ltd		5,510
	573,732		Resolute Mining Ltd		572
	58,624		RHI AG.		1,500
	47,731	*	Richmont Mines, Inc		338
	476,964		Rio Tinto Ltd		22,023
	1,500,460		Rio Tinto plc		60,420
	53,684	*	Royal Bafokeng Platinum Ltd		136
	165,626	e	Royal Gold, Inc		11,602
	342,077		RPC Group plc		3,348
	88,952		RPM International, Inc		4,895
	26,739	*,e	Ryerson Holding Corp		337
	16,289		Sa des Ciments Vicat		1,157
	63,000		Sakai Chemical Industry Co Ltd		221
	110,400		Sakata INX Corp		1,524
	30,308		Salzgitter AG.		1,096
	2,393		Sam Kwang Glass Ind Co Ltd		125
	15,022		Samsung Fine Chemicals Co Ltd		520
	395,651		San Fang Chemical Industry Co Ltd		492
	539,430		Sandfire Resources NL		2,626
	117,664	*,e	Sandstorm Gold Ltd		506

104

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	45,700		Sanyo Chemical Industries Ltd	$	1,922
	734,000		Sanyo Special Steel Co Ltd		3,905
	1,510,938		Sappi Ltd		10,235
	606,434	*	Saracen Mineral Holdings Ltd		457
	246,677		Satipel Industrial S.A.		725
	112,095		Scapa Group plc		497
	319,412	*	Schmolz + Bickenbach AG.		246
	51,273		Schnitzer Steel Industries, Inc (Class A)		1,059
	243,899		Schweitzer-Mauduit International, Inc		10,102
	487,800		Scientex BHD		813
	94,791		Scotts Miracle-Gro Co (Class A)		8,853
	30,373	*,e	Seabridge Gold, Inc		334
	58,531		Seah Besteel Corp		1,477
	20,271		SeAH Steel Corp		1,725
	282,591		Sealed Air Corp		12,315
	850,300		Sekisui Plastics Co Ltd		5,946
	1,205,949	*	SEMAFO, Inc		3,636
	32,721		Semapa-Sociedade de Investimento e Gestao		499
	87,245		Sensient Technologies Corp		6,915
	2,564,942		Sesa Sterlite Ltd		10,866
	723,828		Severstal (GDR)		10,418
	32,481	g	SH Kelkar & Co Ltd		148
	1,390,000		Shandong Chenming Paper Holdings Ltd		1,671
	832,357		Shandong Chenming Paper Holdings Ltd (Class B)		975
	280,600	*	Shanghai Chlor-Alkali Chemical Co Ltd		186
	30,387	*	Shanghai Yaohua Pilkington Glass Co Ltd		22
	18,464		Sharda Cropchem Ltd		139
	706,000		Sheen Tai Holdings Grp Co Ltd		63
	239,260		Sherwin-Williams Co		74,216
	27,000		Shikoku Chemicals Corp		291
	10,355	*	Shine Co Ltd		205
	608,471		Shin-Etsu Chemical Co Ltd		52,888
	168,400		Shin-Etsu Polymer Co Ltd		1,189
	1,953,032		Shinkong Synthetic Fibers Corp		633
	3,534,000	*,e	Shougang Concord International Enterprises Co Ltd		116
	120,200		Showa Denko KK		2,145
	13,965		Shree Cement Ltd		3,676
	833,225		Siam Cement PCL (Foreign)		13,093
	913,691		Sibanye Gold Ltd		1,973
	787,117		Sidi Kerir Petrochemcials Co		856
	3,552		Sika AG.		21,304
	99,204		Silgan Holdings, Inc		5,889
	234,434	*	Silver Standard Resources, Inc		2,489
	770,571		Silver Wheaton Corp		16,056
	778,681	e	Silvercorp Metals, Inc		2,705
	230,536		Sims Group Ltd		2,178
	1,930,000	e	Sinofert Holdings Ltd		273
	14,198,674		Sinopec Shanghai Petrochemical Co Ltd		7,880
	3,066,956	*,e	Sirius Minerals plc		845
	14,104		SK Chemicals Co Ltd		819
	99,664		SKC Co Ltd		2,746
	12,081		SKCKOLONPI, Inc		166

105

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	388,418		Smurfit Kappa Group plc	$	10,264
	103,978		Sociedad Quimica y Minera de Chile S.A. (Class B)		3,567
	1,178,560		Soda Sanayii AS		1,973
	4,875		SODIFF Advanced Materials Co Ltd		709
	20,387		Solvay S.A.		2,487
	12,897		Songwon Industrial Co Ltd		219
	95,913		Sonoco Products Co		5,076
	223,172	*	South Valley Cement		62
	8,293,557		South32 Ltd		17,484
	13,152	e	South32 Ltd (W/I)		27
	473,334	e	Southern Copper Corp (NY)		16,988
	165,072	*	Ssab Svenskt Stal AB (Series A)		653
	422,331	*	Ssab Svenskt Stal AB (Series B)		1,382
	18,585		Ssangyong Cement Industrial Co Ltd		243
	386,568	*	St Barbara Ltd		704
	1,048,549		Steel Dynamics, Inc		36,448
	7,400	e	Stella Chemifa Corp		211
	34,774	e	Stella-Jones, Inc		1,022
	88,677		Stepan Co		6,989
	241,225	*	Stillwater Mining Co		4,166
	2,587		STO AG.		268
	612,889		Stora Enso Oyj (R Shares)		7,247
	322,506	*	Stornoway Diamond Corp		204
	4,404,720		STP & I PCL		1,244
	1,171,221		Sumitomo Bakelite Co Ltd		7,078
	1,475,511		Sumitomo Chemical Co Ltd		8,264
	616,437		Sumitomo Metal Mining Co Ltd		8,816
	1,082,193		Sumitomo Osaka Cement Co Ltd		4,513
	7,400		Sumitomo Seika Chemicals Co Ltd		316
	14,712	*,e	Sumitomo Titanium Corp		228
	210,377	*	Summit Materials, Inc		5,198
	198,940	*	SunCoke Energy, Inc		1,783
	2,444,500	*,e,m	Superb Summit International Group Ltd		31
	9,502,100	*	Superblock PCL-Foreign		376
	83,346		Supreme Industries Ltd		1,402
	873,188		Suzano Papel e Celulose S.A.		3,698
	41,861		Symrise AG.		2,784
	127,920		Syngenta AG.		56,495
	88,173		Synthos S.A.		117
	185,860	*,e	Syrah Resources Ltd		402
	72,780		Ta Ann Holdings BHD		61
	522,531		TA Chen Stainless Pipe		307
	513		Taekwang Industrial Co Ltd		417
	719,927		Tahoe Resources, Inc		5,781
	241,306	e	Tahoe Resources, Inc (Toronto)		1,938
	1,045,340		Taiheiyo Cement Corp		3,508
	3,601,728		Taiwan Cement Corp		4,309
	909,960		Taiwan Fertilizer Co Ltd		1,259
	167,725		Taiwan Hon Chuan Enterprise Co Ltd		325
	3,324,329		Taiwan Styrene Monomer		2,716
	12,800		Taiyo Ink Manufacturing Co Ltd		562
	73,136		Taiyo Nippon Sanso Corp		856
	28,600		Takasago International Corp		920

106

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	39,000	e	Takiron Co Ltd	$	203
	757,755		Tata Steel Ltd		5,633
	39,063	e	Technosemichem Co Ltd		1,817
	1,317,329		Teck Cominco Ltd		28,806
	2,173,455		Teck Resources Ltd		47,599
	1,687,901		Teijin Ltd		31,872
	32,100		Tenma Corp		593
	54,154	*,e	TerraVia Holdings, Inc		39
	23,350	*	Tessenderlo Chemie NV		929
	294,963		ThyssenKrupp AG.		7,226
	236,194	*,e	TimkenSteel Corp		4,466
	53,873		Titan Cement Co S.A.		1,374
	266,200		Toagosei Co Ltd		3,044
	23,500	e	Toho Titanium Co Ltd		184
	159,000	e	Toho Zinc Co Ltd		782
	148,800		Tokai Carbon Co Ltd		650
	19,000		Tokushu Tokai Holdings Co Ltd		713
	386,000	*	Tokuyama Corp		1,869
	29,700		Tokyo Ohka Kogyo Co Ltd		988
	53,179	e	Tokyo Rope Manufacturing Co Ltd		806
	78,200		Tokyo Steel Manufacturing Co Ltd		659
	607,750		Ton Yi Industrial Corp		314
	163,127	b	Tong Yang Major Corp		350
	1,632,000	*	Tongfang Kontafarma Holdings Ltd		118
	28,411	*	Tongyang Cement & Energy Corp		85
	61,400		Topy Industries Ltd		1,634
	291,490		Toray Industries, Inc		2,594
	61,786	*	Torex Gold Resources, Inc		1,218
	1,194,000		Tosoh Corp		10,505
	158,000		Toyo Ink Manufacturing Co Ltd		762
	29,600		Toyo Kohan Co Ltd		103
	116,541		Toyo Seikan Kaisha Ltd		1,896
	7,020,676		Toyobo Co Ltd		12,209
	39,474	*	Trecora Resources		438
	71,031		Tredegar Corp		1,247
	140,706		Trinseo S.A.		9,441
	539,909		Tronox Ltd		9,961
	457,000		TSRC Corp		526
	84,076		Tubacex S.A.		265
	1,397,000		Tung Ho Steel Enterprise Corp		1,089
	1,745,621	*	Turquoise Hill Resources Ltd		5,329
	1,784,647		UBE Industries Ltd		4,030
	14,705	*	UFP Technologies, Inc		381
	123,709		Ultra Tech Cement Ltd		7,592
	17,558		Umicore		1,000
	13,284		Unid Co Ltd		532
	551,419		United Phosphorus Ltd		6,173
	5,422		United States Lime & Minerals, Inc		428
	1,365,271		United States Steel Corp		46,160
	131,065		Universal Cement Corp		115
	1,782,532		UPC Technology Corp		772
	1,857,707	e	UPM-Kymmene Oyj		43,617

107

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,297	*,e	US Concrete, Inc	$	1,827
	1,939,870		USI Corp		1,010
	354,900	*	Usinas Siderurgicas de Minas Gerais S.A. (Preference)		503
	2,048,844		Vale S.A.		19,496
	2,057,926		Vale S.A. (Preference)		18,544
	60,105	e	Valhi, Inc		197
	47,522		Valspar Corp		5,272
	65,070	e	Valvoline, Inc		1,597
	642,167		Vedanta Resources plc		6,503
	204,857		Victrex plc		4,882
	10,921		Vinati Organics Ltd		127
	118,018		Voestalpine AG.		4,641
	68,652		Vulcan Materials Co		8,271
	227,210	e	Wacker Chemie AG.		23,425
	1,878,000	*,e	West China Cement Ltd		273
	312,771		West Fraser Timber Co Ltd		13,081
	756,723	*,e	Western Areas NL		1,335
	1,020,368		Western Forest Products, Inc		1,665
	259,291	*,e	Westgold Resources Ltd		469
	1,055,864		Westlake Chemical Corp		69,740
	639,005	e	WestRock Co		33,247
	4,708,860		Wienerberger AG.		99,771
	33,634		Winpak Ltd		1,343
	2,848	*	Wonik Materials Co Ltd		149
	160,792		Worthington Industries, Inc		7,250
	1,735,712		WR Grace & Co		120,996
	185,600	e	W-Scope Corp		2,740
	604,000	*	Xinjiang Xinxin Mining Industry Co Ltd		80
	696,666	e	Yamana Gold, Inc		1,923
	31,600		Yamato Kogyo Co Ltd		818
	185,145		Yara International ASA		7,131
	63,573		Yeong Guan Energy Technology Group Co Ltd		222
	265,100		Yeun Chyang Industrial Co Ltd		222
	747,577		Yieh Phui Enterprise		342
	868,170	e	Yingde Gases		671
	542,000		Yip’s Chemical Holdings Ltd		234
	18,100		Yodogawa Steel Works Ltd		493
	491	*	Yonwoo Co Ltd		13
	668,285		Yuen Foong Yu Paper Manufacturing Co Ltd		254
	662,311		Yule Catto & Co plc		3,947
	1,000		Yung Chi Paint & Varnish Manufacturing Co Ltd		3
	37,965		Zaklady Azotowe w Tarnowie-Moscicach S.A.		662
	565,512		Zeon Corp		6,462
	662,000	e	Zhaojin Mining Industry Co Ltd		581
	20,155		Zignago Vetro S.p.A.		154
	8,516,731		Zijin Mining Group Co Ltd		3,161
			TOTAL MATERIALS		6,015,056
MEDIA - 2.9%
	36,200	*,e	ABB ASEA BROWN BOVERI Ltd		447
	1,679,520		ABS-CBN Holdings Corp (ADR)		1,573
	17,400	e	Adways, Inc		79
	135,805		Aimia, Inc		919

108

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,987,467	*,e	Alibaba Pictures Group Ltd	$	2,356
	312,734	*	Altice NV (Class A)		7,074
	84,484	*	Altice NV (Class B)		1,908
	166,493		AMC Entertainment Holdings, Inc		5,236
	549,674	*	AMC Networks, Inc		32,255
	6,800		Amuse, Inc		153
	70,080		Antena 3 de Television S.A.		884
	2,316		APG SGA S.A.		1,080
	250,710		APN News & Media Ltd		532
	149,097		APN Outdoor Group Ltd		649
	24,600		Asatsu-DK, Inc		626
	9,958,900		Asian Pay Television Trust		3,311
	3,330,470		Astro Malaysia Holdings BHD		2,062
	26,859	e	Avex Group Holdings, Inc		389
	41,040		Axel Springer AG.		2,265
	319,700		BEC World PCL (Foreign)		167
	110,937	*	Besiktas Futbol Yatirimlari Sanayi ve Ticaret AS		160
	9,188,000	*	Big Media Group Ltd		390
	284,031		Borussia Dortmund GmbH & Co KGaA		1,725
	1,800	*,e	Brangista, Inc		26
	2,013		Cable One, Inc		1,257
	52,575		Cairo Communication S.p.A.		249
	2,472,919		CBS Corp (Class B)		171,522
	55,591	*	Central European Media Enterprises Ltd (Class A)		169
	179,496	*,e	Central European Media Enterprises Ltd (Class A) (NASDAQ)		556
	486,947	*	Charter Communications, Inc		159,388
	69,504		Cheil Communications, Inc		1,181
	161,865	*,m	Chennai Super Kings Cricket Ltd		6
	237,076		Cinemark Holdings, Inc		10,512
	87,602	e	Cineplex Galaxy Income Fund		3,327
	412,934		Cineworld Group plc		3,428
	11,319		CJ CGV Co Ltd		760
	22,841		CJ E&M Corp		1,736
	20,494		CJ Hellovision Co Ltd		186
	44,330		Clear Channel Outdoor Holdings, Inc (Class A)		268
	12,786		Cogeco Communications, Inc		683
	17,170		Cogeco, Inc		769
	18,375,943		Comcast Corp (Class A)		690,752
	139,536	*	Corus Entertainment, Inc		1,370
	37,223		CTS Eventim AG.		1,440
	78,400	*	CyberAgent, Inc		2,325
	160,503	*	Cyfrowy Polsat S.A.		979
	28,900		Daiichikosho Co Ltd		1,164
	2,375	*,e	Daily Journal Corp		509
	509,724		Daily Mail & General Trust		4,598
	107,455		Dentsu, Inc		5,852
	502,000	e	DHX Media Ltd		2,091
	5,490,000	*,e	Digital Domain Holdings Ltd		290
	676,077	*,e	Discovery Communications, Inc (Class A)		19,667
	383,691	*	Discovery Communications, Inc (Class C)		10,862
	730,318	*	DISH Network Corp (Class A)		46,368

109

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	62,353	e	Entercom Communications Corp (Class A)	$	892
	266,286		Entertainment One Ltd		816
	239,125		Entravision Communications Corp (Class A)		1,483
	66,040	*,e	Eros International plc		680
	4,000,000	*	eSun Holdings Ltd		509
	120,250		Eutelsat Communications		2,680
	118,163	*	EW Scripps Co (Class A)		2,770
	8,934	*	Fenerbahce Sportif Hizmetleri Sanayi ve Ticaret AS		86
	354,000		Fuji Television Network, Inc		4,906
	293,770		Gannett Co, Inc		2,462
	642,469		Gestevision Telecinco S.A.		8,272
	116,949	*	Global Eagle Entertainment, Inc		373
	240,079	*	Gray Television, Inc		3,481
	2,627,227		Grupo Televisa S.A.		13,606
	104,875	*	Gruppo Editoriale L’Espresso S.p.A.		93
	103,501		Hakuhodo DY Holdings, Inc		1,231
	200,995		Havas S.A.		1,789
	27,608	*	Hemisphere Media Group, Inc		324
	790,000	*,e	Huanxi Media Group Ltd		228
	4,590,000	e	Huayi Tencent Entertainment Co Ltd		230
	36,102		Hyundai Hy Communications & Network Co		126
	284,979	*	IBN18 Broadcast Ltd		184
	55,880	*	IHQ, Inc		89
	88,400	*,g	IMAX China Holding, Inc		455
	611,808	*	Imax Corp		20,801
	929,929		Informa plc		7,601
	6,607		Innocean Worldwide, Inc		364
	41,304	*	Inox Leisure Ltd		182
	3,494,786		Interpublic Group of Cos, Inc		85,867
	80,735		IPSOS		2,506
	205,525		ITE Group plc		415
	7,097,172		ITV plc		19,483
	145,832		Jagran Prakashan Ltd		431
	328,132		JC Decaux S.A.		11,525
	31,345	*	Jcontentree Corp		119
	1,788,116		John Fairfax Holdings Ltd		1,400
	62,535		John Wiley & Sons, Inc (Class A)		3,364
	319,647	*	Juventus Football Club S.p.A.		164
	70		Kabel Deutschland Holding AG.		9
	148,132		Kadokawa Dwango Corp		2,129
	15,929	e	Kinepolis Group NV		812
	52,517		KT Skylife Co Ltd		775
	25,475		Lagardere S.C.A.		749
	30,800	*,e	Lee Enterprises, Inc		80
	17,887	*	Liberty Braves Group (Class A)		428
	62,087	*	Liberty Braves Group (Class C)		1,468
	55,408	*	Liberty Broadband Corp (Class A)		4,715
	224,026	*	Liberty Broadband Corp (Class C)		19,356
	10,763	*	Liberty Global plc		377
	201,068	*	Liberty Global plc (Class A)		7,212
	135	*	Liberty Global plc LiLAC (Class A)		3
	380	*,e	Liberty Global plc LiLAC (Class C)		9
	46,191	*,e	Liberty Media Group (Class A)		1,510

110

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	121,263	*,e	Liberty Media Group (Class C)	$	4,141
	236,521	*	Liberty SiriusXM Group (Class A)		9,205
	450,221	*	Liberty SiriusXM Group (Class C)		17,460
	163,326	*,e	Lions Gate Entertainment Corp (Class A)		4,338
	312,148	*	Lions Gate Entertainment Corp (Class B)		7,610
	392,959	*	Live Nation, Inc		11,934
	69,734		Loen Entertainment, Inc		5,612
	24,291	*	Loral Space & Communications, Inc		957
	174,837		M6-Metropole Television		3,897
	42,183	*	Madison Square Garden Co		8,424
	383,300		Major Cineplex Group PCL-Foreign		379
	703,387	e	MDC Partners, Inc		6,612
	1,718,300		Media Prima BHD		447
	595,495		Mediaset S.p.A.		2,459
	1,780,000	*	Mei Ah Entertainment Group Ltd		107
	105,207		Meredith Corp		6,796
	163,313		Modern Times Group AB (B Shares)		5,461
	265,021	*	MSG Networks, Inc		6,188
	224,500		Multiplus S.A.		2,582
	11,450,000	*	Nan Hai Corp Ltd		383
	2,900		Nasmedia Co Ltd		101
	815,089		Naspers Ltd (N Shares)		140,450
	227,066		National CineMedia, Inc		2,868
	138,261		New Media Investment Group, Inc		1,965
	245,322		New York Times Co (Class A)		3,533
	328,407		News Corp		4,269
	81,463		News Corp (Class B)		1,100
	112,594		Nexstar Broadcasting Group, Inc (Class A)		7,898
	41,600	e	Next Co Ltd		283
	11,583	*	Next Entertainment World Co Ltd		86
	800,194	e	Nine Entertainment Co Holdings Ltd		767
	251,027		Omnicom Group, Inc		21,641
	117,416		oOh!media Ltd		414
	572,493		Pearson plc		4,882
	1,082,000		Phoenix Satellite Television Holdings Ltd		202
	443,900		Plan B Media PCL		78
	187,700		Poly Culture Group Corp Ltd		449
	45,384	*,e	Promotora de Informaciones S.A.		209
	747,528		ProSiebenSat. Media AG.		33,101
	8,600		Proto Corp		113
	5,272,300		PT Global MediaCom Tbk		206
	4,838,738		PT Media Nusantara Citra Tbk		672
	180,079		PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		981
	16,724,136		PT Surya Citra Media Tbk		3,390
	5,764,300	*	PT Visi Media Asia Tbk		147
	51,473		Publicis Groupe S.A.		3,594
	33,668		PVR Ltd		742
	185,945	e	Quebecor, Inc		5,734
	53,609	*,e	Radio One, Inc		177
	73,754	g	RAI Way S.p.A		384
	369	*	RCS MediaGroup S.p.A.		0	^

111

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	87,026	e	REA Group Ltd	$	3,946
	39,204	*	Reading International, Inc		609
	2,995,021		Reed Elsevier NV		55,562
	1,970,258		Reed Elsevier plc		38,574
	332,419	e	Regal Entertainment Group (Class A)		7,506
	407,000		RS PCL		105
	283,835		RTL Group		22,837
	8,630		Saga Communications, Inc		441
	21,857		Salem Communications		163
	239,320		Sanoma-WSOY Oyj		2,001
	36,431		SBS Media Holdings Co Ltd		91
	11,463		Schibsted ASA		295
	90,547		Schibsted ASA (B Shares)		2,075
	60,621		Scholastic Corp		2,581
	617,544		Scripps Networks Interactive (Class A)		48,397
	82,600	e	Septeni Holdings Co Ltd		298
	180,164	e	SES Global S.A.		4,189
	325,340		Shaw Communications, Inc (B Shares)		6,745
	70,000		Shochiku Co Ltd		826
	26,055		SHOWBOX Corp		124
	142,558		Sinclair Broadcast Group, Inc (Class A)		5,774
	1,094,601	e	Singapore Press Holdings Ltd		2,778
	77,807	e	Sirius XM Canada Holdings, Inc		322
	3,649,855	e	Sirius XM Holdings, Inc		18,797
	256,363	*	SITI Networks Ltd		150
	1,201,627		Sky Network Television Ltd		3,297
	573,200		Sky Perfect Jsat Corp		2,431
	1,189,292		Sky plc		14,545
	14,377	*	SM Entertainment Co		304
	4,504,000	e	SMI Holdings Group Ltd		429
	51,100		Smiles S.A.		1,035
	89,283	e	Societe Television Francaise 1		1,064
	2,229,183		Southern Cross Media Group		2,383
	21,417	e	Stroer Out-of-Home Media AG.		1,192
	120,334		Sun TV Network Ltd		1,465
	585,000		T4F Entretenimento S.A.		1,198
	253,585		TEGNA, Inc		6,497
	44,528	*	Telenet Group Holding NV		2,647
	787,543	e	Television Broadcasts Ltd		3,182
	165,217	*,e	Ten Network Holdings Ltd		72
	3,726,841		Time Warner, Inc		364,149
	332,374		Time, Inc		6,431
	11,300		Toei Animation Co Ltd		676
	771,885	e	Toei Co Ltd		6,606
	81,623		Toho Co Ltd		2,166
	124,900		Tohokushinsha Film Corp		780
	178,200		Tokyo Broadcasting System, Inc		3,197
	28,559	*	Townsquare Media, Inc		348
	170,288		Tribune Co		6,347
	49,949	*,e	tronc, Inc		695
	33,100		TV Asahi Corp		627
	987,400	e	TV Azteca S.A. de C.V.		185
	2,098,531		Twenty-First Century Fox, Inc		67,971

112

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,347,670		Twenty-First Century Fox, Inc (Class B)	$	42,829
	1,022,664		UBM plc		9,792
	19,900	*	Vector, Inc		242
	1,475,400		VGI Global Media PCL		219
	451,000		VHQ Media Holdings Ltd		2,497
	18,487		Viacom, Inc		901
	3,065,742		Viacom, Inc (Class B)		142,925
	64,444	e	Village Roadshow Ltd		207
	2,229,600	*,e	Viva China Holdings Ltd		264
	351,728		Vivendi Universal S.A.		6,823
	4,881,436		Walt Disney Co		553,506
	872,736	e	West Australian Newspapers Holdings Ltd		523
	617,000	*,e	Wisdom Holdings Group		146
	19,647	*	Woongjin Thinkbig Co Ltd		159
	119,800		Workpoint Entertainment PCL		187
	70,902	e	World Wrestling Entertainment, Inc (Class A)		1,575
	4,700		Wowow, Inc		163
	275,933	e	WPP AUNZ Ltd		242
	3,633,440		WPP plc		79,642
	22,501	*	Yellow Pages Ltd		144
	7,638		YG Entertainment, Inc		200
	893,651	*	Zee Entertainment Enterprises Ltd		1,479
	877,112		ZEE Telefilms Ltd		7,233
	17,900		Zenrin Co Ltd		383
	12,700	*	ZIGExN Co Ltd		139
			TOTAL MEDIA		3,377,102
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.3%
	1,264,500	*,e,g	3SBio, Inc		1,562
	57,831	*,e	AB Science S.A.		995
	4,062,186	n	AbbVie, Inc		264,692
	582,521		Abcam plc		6,029
	45,037	*,e	Ablynx NV		558
	216,785	*,e	Acadia Pharmaceuticals, Inc		7,453
	45,088	*,e	Accelerate Diagnostics, Inc		1,091
	78,470	*	Acceleron Pharma, Inc		2,077
	80,867	*,e	AcelRx Pharmaceuticals, Inc		255
	321,497	*	Achillion Pharmaceuticals, Inc		1,354
	171,882	*	Aclaris Therapeutics, Inc		5,126
	112,829	*	Acorda Therapeutics, Inc		2,369
	178,056	*	Actelion Ltd		50,165
	33,259	*,e	Adamas Pharmaceuticals, Inc		582
	50,981		Adcock Ingram Holdings Ltd		237
	3,267	*,e	Adocia		66
	71,802	*,e	Aduro Biotech, Inc		772
	69,536	*,e	Advaxis, Inc		568
	58,686	*	Adverum Biotechnologies, Inc		158
	93,651	*	Aerie Pharmaceuticals, Inc		4,247
	79,562	*,e	Aevi Genomic Medicine, Inc		148
	146,504	*,e	Agenus, Inc		552

113

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	32,292	*,e	Agile Therapeutics, Inc	$	104
	1,725,489		Agilent Technologies, Inc		91,227
	60,200	*,e	Agios Pharmaceuticals, Inc		3,516
	51,390	*,e	Aimmune Therapeutics, Inc		1,117
	37,511		Ajanta Pharma Ltd		1,017
	76,817	*	Akebia Therapeutics, Inc		707
	320,579	*	Akorn, Inc		7,720
	52,374	*,e	Albany Molecular Research, Inc		735
	108,903	*,e	Alder Biopharmaceuticals, Inc		2,265
	84,865		Alembic Pharmaceuticals Ltd		820
	983,269	*,n	Alexion Pharmaceuticals, Inc		119,212
	4,637	e	ALK-Abello AS		669
	125,653	*	Alkermes plc		7,351
	1,534,882		Allergan plc		366,714
	54,503	*,e	Alnylam Pharmaceuticals, Inc		2,793
	98,321	*	AMAG Pharmaceuticals, Inc		2,217
	1,808,911		Amgen, Inc		296,788
	5,963		Amicogen, Inc		218
	329,094	*,e	Amicus Therapeutics, Inc		2,346
	88,894	*,e	Amphastar Pharmaceuticals, Inc		1,289
	101,829	*,e	Ampio Pharmaceuticals, Inc		81
	8,181	*	AnaptysBio, Inc		227
	103,445	*,e	Anavex Life Sciences Corp		594
	15,910	*,e	ANI Pharmaceuticals, Inc		788
	100,375	*,e	Anthera Pharmaceuticals, Inc		43
	100,430	*	Applied Genetic Technologies Corp		693
	138,402	*,e	Aptevo Therapeutics, Inc		285
	2,852	*,e	AquaBounty Technologies, Inc		32
	214,885	*,e	Aratana Therapeutics, Inc		1,139
	76,170	*	Ardelyx, Inc		964
	602,398	*	Arena Pharmaceuticals, Inc		880
	476,636	*,e	Array Biopharma, Inc		4,261
	136,349	*,e	Arrowhead Research Corp		252
	173,242	e	Ascendis Health Ltd		291
	110,300		ASKA Pharmaceutical Co Ltd		1,622
	506,265		Aspen Pharmacare Holdings Ltd		10,358
	2,257,952		Astellas Pharma, Inc		29,780
	51,064	*,e	Asterias Biotherapeutics, Inc		174
	5,130	*	AstraZeneca Pharma India Ltd		74
	967,793		AstraZeneca plc		59,507
	836,928	e	AstraZeneca plc (ADR)		26,062
	45,863	*,e	Atara Biotherapeutics, Inc		942
	7,447	*	ATGen Co Ltd		223
	215,505	*,e	Athersys, Inc		369
	11,532	*,e	Audentes Therapeutics, Inc		197
	481,975		Aurobindo Pharma Ltd		5,012
	15,075	*,e	Avexis, Inc		1,146
	48,434	*,e	Axovant Sciences Ltd		724
	24,418	*,e	Axsome Therapeutics, Inc		95
	11,716	*,e	Basilea Pharmaceutica		1,012
	24,289	*,e	Bavarian Nordic AS		1,233
	1,507,145		Bayer AG.		173,643
	484,000	e	Beijing Tong Ren Tang Chinese Medicine Co Ltd		649

114

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	41,941	*,e	Bellicum Pharmaceuticals, Inc	$	518
	22,929	*	Binex Co Ltd		286
	110,896		Biocon Ltd		1,934
	298,359	*,e	BioCryst Pharmaceuticals, Inc		2,506
	42,345		Biogaia AB (B Shares)		1,578
	641,742	*	Biogen Idec, Inc		175,465
	711,624	*	BioMarin Pharmaceutical, Inc		62,466
	192,115	*,e	Bio-Path Holdings, Inc		159
	73,882	*	Bio-Rad Laboratories, Inc (Class A)		14,728
	30,238	*	Biospecifics Technologies Corp		1,657
	91,397		Bio-Techne Corp		9,291
	5,876		Biotest AG.		160
	15,712		Biotest AG. (Preference)		299
	139,721	*,e	BioTime, Inc		482
	280,748	*	Bioverativ, Inc		15,290
	115,171	*,e	Biovitrum AB		1,654
	106,028	*,e	Bluebird Bio, Inc		9,638
	48,596	*	Blueprint Medicines Corp		1,943
	13,382		Boiron S.A.		1,222
	20,132		Boryung Pharmaceutical Co Ltd		905
	4,040,580		Bristol-Myers Squibb Co		219,727
	294,569		Bruker BioSciences Corp		6,872
	298,261	*	BTG plc		2,192
	18,219		Bukwang Pharmaceutical Co Ltd		348
	164,556		Cadila Healthcare Ltd		1,120
	160,006	*	Cambrex Corp		8,808
	12,601	*	Camurus AB		169
	170,358	*,e	Canopy Growth Corp		1,364
	254,458	*,e	Cara Therapeutics Inc		4,679
	3,121		Caregen Co Ltd		180
	335,725	*	Catalent, Inc		9,508
	2,857,324	*,n	Celgene Corp		355,537
	4,756		Cell Biotech Co Ltd		146
	183,513	*,e	Celldex Therapeutics, Inc		662
	18,466	*,e	Cellectis S.A.		443
	11,466	*	Celltrion Pharm Inc		217
	88,128	*,e	Celltrion, Inc		7,100
	25,785	*,e	Cellular Biomedicine Group, Inc		304
	195,647	*,e	Cempra, Inc		734
	94,411	*	Center Laboratories, Inc		188
	227,738	*	Charles River Laboratories International, Inc		20,485
	110,242	*	ChemoCentryx, Inc		803
	109,451	*	Chimerix, Inc		698
	10,235,300	*,e,m	China Animal Healthcare Ltd		13
	3,809,900	e	China Medical System Holdings Ltd		6,759
	17,920,000	*	China Regenerative Medicine International Ltd		612
	684,000		China Shineway Pharmaceutical Group Ltd		749
	11,018		Chong Kun Dang Pharm Corp		670
	27,603		Chong Kun Dang Pharmaceutical Corp		2,728
	9,462		Choongwae Pharma Corp		378
	60,111	*,e	ChromaDex Corp		162
	300,400		Chugai Pharmaceutical Co Ltd		10,341

115

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	31,037	*,e	Cidara Therapeutics, Inc	$	242
	389,632		Cipla Ltd		3,558
	2,302,000	e	CK Life Sciences International Holdings, Inc		196
	0	*	Clal Biotechnology Industries Ltd		0	^
	19,257	*,e	Clearside Biomedical, Inc		153
	71,464		Clinigen Group plc		712
	290,983	*,e	Clovis Oncology, Inc		18,527
	66,717	*,e	CMG Pharmaceutical Co Ltd		206
	36,900	e	CMIC Co Ltd		475
	565,084	*,e	Coherus Biosciences, Inc		11,952
	32,629	*,e	Collegium Pharmaceutical, Inc		328
	113,944	*	Concert Pharmaceuticals Inc		1,944
	773,000	e	Consun Pharmaceutical Group Ltd		448
	290,642	*	Corcept Therapeutics, Inc		3,185
	7,181	*,e	Corvus Pharmaceuticals, Inc		149
	5,024	e	COSMO Pharmaceuticals NV		823
	16,415	*	CrystalGenomics, Inc		226
	580,241		CSL Ltd		55,556
	10,869,961		CSPC Pharmaceutical Group Ltd		14,241
	385,459	*	Curis, Inc		1,072
	81,669	*	Cytokinetics, Inc		1,049
	44,545	*,e	CytomX Therapeutics, Inc		769
	161,454	*,e	CytRx Corp		72
	9,236		Dae Hwa Pharmaceutical Co Ltd		176
	7,535		Daehan New Pharm Co Ltd		111
	50,937		Daewon Pharmaceutical Co Ltd		929
	7,367		Daewoong Co Ltd		345
	3,756		Daewoong Pharmaceutical Co Ltd		283
	964,852		Daiichi Sankyo Co Ltd		21,768
	1,204,000		Dawnrays Pharmaceutical Holdings Ltd		699
	13,087	*,e	DBV Technologies S.A.		915
	217,410	*,e	Depomed, Inc		2,729
	92,925	*	Dermira, Inc		3,170
	41,249	*,e	Dimension Therapeutics, Inc		72
	149,958		Dishman Pharmaceuticals & Chemicals Ltd		667
	117,651		Divi S Laboratories Ltd		1,130
	13,953		Dong-A Pharmaceutical Co Ltd		1,648
	3,089		Dong-A ST Co Ltd		259
	25,472		DongKook Pharmaceutical Co Ltd		1,467
	165,432		Dr Reddy’s Laboratories Ltd		6,698
	339,566	*	Durect Corp		357
	75,027	*,e	Dynavax Technologies Corp		446
	17,742	*,e	Eagle Pharmaceuticals, Inc		1,472
	32,303	*	Edge Therapeutics, Inc		294
	13,048	*,e	Editas Medicine, Inc		291
	48,393	*,e	Egalet Corp		247
	8,089	*	Eiger BioPharmaceuticals, Inc		93
	213,861		Eisai Co Ltd		11,106
	4,287,221		Eli Lilly & Co		360,598
	65,151	*	Emergent Biosolutions, Inc		1,892
	31,547	*	Enanta Pharmaceuticals, Inc		972
	469,080	*	Endo International plc		5,235
	99,286	*,e	Endocyte, Inc		255

116

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	344,011	*	Enzo Biochem, Inc	$	2,879
	78,134	*,e	Epizyme, Inc		1,340
	22,800		EPS Co Ltd		321
	28,232	*	Esperion Thereapeutics, Inc		997
	10,648		Eurofins Scientific		4,631
	96,788	*	Evotec AG.		944
	232,567	*,e	Exact Sciences Corp		5,493
	1,007,632	*	Exelixis, Inc		21,835
	487,995		Faes Farma S.A. (Sigma)		1,739
	81,352		FDC Ltd		255
	224,332	*	FibroGen, Inc		5,530
	112,542	*	Five Prime Therapeutics, Inc		4,068
	25,953	*,e	Flex Pharma, Inc		114
	62,565	*,e	Flexion Therapeutics Inc		1,684
	58,856	*	Fluidigm Corp		335
	82,256	*,e	Fortress Biotech, Inc		304
	26,632	*,e	Foundation Medicine, Inc		859
	32,470	*	Galapagos NV		2,811
	25,350	*,e	Galena Biopharma, Inc		15
	8,268	*	Genexine Co Ltd		307
	21,768	*,e	Genfit		683
	75,416	*	Genmab AS		14,512
	58,313	*	Genomic Health, Inc		1,836
	654,400	*	Genomma Lab Internacional S.A. de C.V.		781
	2,574,000	*,e	Genscript Biotech Corp		1,392
	70,634		Genus plc		1,527
	279,868	*,e	Geron Corp		635
	27,974		Gerresheimer AG.		2,215
	3,041,034		Gilead Sciences, Inc		206,547
	11,479,372		GlaxoSmithKline plc		238,690
	237,790		Glenmark Pharmaceuticals Ltd		3,120
	118,500	*,e	Global Blood Therapeutics, Inc		4,367
	23,206	*	GlycoMimetics Inc		126
	46,785		Granules India Ltd		100
	4,750		Green Cross Corp		673
	19,110		Green Cross Holdings Corp		490
	264,282		Grifols S.A.		6,484
	8	*,m	GW Pharmaceuticals plc		0	^
	1,401,548	*	H Lundbeck AS		65,051
	216,548	*,e	Halozyme Therapeutics, Inc		2,806
	19,842	*	Han All Pharmarceutical Co		236
	3,997		Handok Pharmaceuticals Co Ltd		88
	14,805		Hanmi Holdings Co Ltd		773
	6,422		Hanmi Pharm Co Ltd		1,717
	6,400	*,e	HEALIOS KK		103
	80,295	*,e	Heron Therapeutics, Inc		1,204
	36,246	*	Heska Corp		3,805
	145,025	e	Hikma Pharmaceuticals plc		3,602
	116,339		Hisamitsu Pharmaceutical Co, Inc		6,661
	342,094	*	Horizon Pharma plc		5,056
	11,004,062	e,m	Hua Han Bio-Pharmaceutical Holdings Ltd		14
	1,894	*	Hugel, Inc		625

117

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,915		Humedix Co Ltd	$	105
	3,225	*	Huons Co Ltd		147
	28,381	*,e	Hutchison China MediTech Ltd		1,154
	365,867		Hypermarcas S.A.		3,389
	212,600	*,e	Idera Pharmaceuticals, Inc		525
	106,124	*	Ignyta, Inc		913
	50,425		Il Dong Pharmaceutical Co Ltd		882
	398,217	*	Illumina, Inc		67,952
	10,805		Ilyang Pharmaceutical Co Ltd		361
	37,090	*,e	Immune Design Corp		252
	179,133	*,e	Immunogen, Inc		693
	196,265	*,e	Immunomedics, Inc		1,270
	182,848	*	Impax Laboratories, Inc		2,313
	227,603	*	INC Research Holdings, Inc		10,436
	500,621	*,n	Incyte Corp		66,918
	1,343,199		Indivior plc		5,423
	19,038		Indoco Remedies Ltd		73
	177,476	*	Infinity Pharmaceuticals, Inc		573
	33,553	*,e	Innate Pharma S.A.		417
	160,313	e	Innoviva, Inc		2,217
	42,184	*,e	Inotek Pharmaceuticals Corp		84
	130,181	*,e	Inovio Pharmaceuticals, Inc		862
	166,216	*	Insmed, Inc		2,910
	44,317	*,e	Insys Therapeutics, Inc		466
	14,652	*,e	Intellia Therapeutics, Inc		206
	48,578	*,e	Intercept Pharmaceuticals, Inc		5,494
	81,365	*	Intersect ENT, Inc		1,395
	83,452	*,e	Intra-Cellular Therapies, Inc		1,356
	110,252	*,e	Intrexon Corp		2,185
	9,594	*	iNtRON Biotechnology, Inc		202
	105,627	*,e	Invitae Corp		1,168
	240,990	*,e	Ionis Pharmaceuticals, Inc		9,688
	61,688		Ipca Laboratories Ltd		593
	335,135		Ipsen		33,507
	257,241	*,e	Ironwood Pharmaceuticals, Inc		4,389
	10,100	*	Japan Tissue Engineering Co Lt		122
	383,369	*	Jazz Pharmaceuticals plc		55,638
	22,296		JB Chemicals & Pharmaceuticals Ltd		119
	11,400		JCR Pharmaceuticals Co Ltd		253
	4,886	e	Jeil Pharmaceutical Co		284
	8,520,238		Johnson & Johnson		1,061,196
	10,413	*	Jounce Therapeutics, Inc		229
	126,249		Jubilant Organosys Ltd		1,556
	117,459	*,e	Juno Therapeutics, Inc		2,606
	75,237		JW Holdings Corp		537
	23,533		JW Shinyak Corp		155
	21,460	*,e	Kadmon Holdings, Inc		78
	46,300		Kaken Pharmaceutical Co Ltd		2,621
	52,044	*	Karyopharm Therapeutics, Inc		668
	153,557	*,e	Keryx Biopharmaceuticals, Inc		946
	95,800		Kissei Pharmaceutical Co Ltd		2,517
	98,556	*,e	Kite Pharma, Inc		7,736
	172,771	*	Knight Therapeutics, Inc		1,350

118

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,691		Kolon Life Science, Inc	$	419
	28,969	*,e	Komipharm International Co Ltd		970
	32,851		Korea United Pharm Inc		539
	86,899		Kwang Dong Pharmaceutical Co Ltd		692
	61,536		Kyongbo Pharmaceutical Co Ltd		704
	50,736		Kyorin Co Ltd		1,073
	374,291		Kyowa Hakko Kogyo Co Ltd		5,948
	5,204		Kyungdong Pharm Co Ltd		91
	27,828	*,e	La Jolla Pharmaceutical Co		831
	46,949		Laboratorios Almirall S.A.		762
	55,937	*,e	Lannett Co, Inc		1,250
	620,000	e	Lee’s Pharmaceutical Holdings Ltd		599
	123,873	*,e	Lexicon Pharmaceuticals, Inc		1,776
	43,559	*,e	Ligand Pharmaceuticals, Inc (Class B)		4,610
	8,900	e	Linical Co Ltd		118
	109,547	*	Lion Biotechnologies, Inc		816
	39,414	*,e	Lipocine, Inc		154
	166,370	e	Livzon Pharmaceutical Group, Inc		980
	424,340		Lonza Group AG.		80,209
	34,000	*	Lotus Pharmaceutical Co Ltd		63
	31,514	*,e	Loxo Oncology, Inc		1,326
	103,852		Luminex Corp		1,908
	394,988		Lupin Ltd		8,792
	944,500	e	Luye Pharma Group Ltd		571
	6,732	*	Macrogen, Inc		175
	62,981	*	MacroGenics, Inc		1,171
	211,087	*	Mallinckrodt plc		9,408
	55,453	*,e	MannKind Corp		82
	175,620		Marksans Pharma Ltd		128
	1,598,609	*,e	Mayne Pharma Group Ltd		1,740
	137,966	*,e	Medicines Co		6,747
	62,226	*,e	MediciNova, Inc		373
	86,918	*	Medigen Biotechnology Corp		172
	122,537	*	Medpace Holdings, Inc		3,658
	3,464		Medy-Tox, Inc		1,434
	259,100		Mega Lifesciences PCL		200
	8,556,144		Merck & Co, Inc		543,657
	174,215		Merck KGaA		19,852
	5,029,957	*,e	Merrimack Pharmaceuticals, Inc		15,492
	187,837	*,e	Mesoblast Ltd		327
	62,709	*	Mettler-Toledo International, Inc		30,032
	205,593	*,e	MiMedx Group, Inc		1,959
	37,409	*,e	Minerva Neurosciences, Inc		303
	44,001	*	Mirati Therapeutics, Inc		229
	9,800		Mochida Pharmaceutical Co Ltd		729
	5,833	*	Molecular Partners AG.		142
	128,534	*	Momenta Pharmaceuticals, Inc		1,716
	20,359	*,e	Morphosys AG.		1,195
	2,599,099	*,n	Mylan NV		101,339
	25,848	*	MyoKardia, Inc		340
	17,523	*,e	Myovant Sciences Ltd		206
	133,690	*,e	Myriad Genetics, Inc		2,567

119

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,800	*,e	NanoCarrier Co Ltd	$	190
	54,812	*	NanoString Technologies, Inc		1,089
	39,051	*,e	NantKwest, Inc		139
	86,339		Natco Pharma Ltd		1,129
	74,012	*	Natera, Inc		656
	11,961	*	Naturalendo Tech Co Ltd		168
	336,259	*	Nektar Therapeutics		7,892
	110,093	*	NeoGenomics, Inc		869
	34,583	*,e	Neos Therapeutics, Inc		249
	191,736	*	Neurocrine Biosciences, Inc		8,302
	22,400	*	Neuroderm Ltd		595
	79,171	*,e	NewLink Genetics Corp		1,908
	10,743	*,e	Newron Pharmaceuticals S.p.A		241
	31,750	e	Nichi-iko Pharmaceutical Co Ltd		495
	86,100		Nippon Shinyaku Co Ltd		4,397
	8,024	*,e	Novan, Inc		51
	3,162,716		Novartis AG.		234,855
	662,860	*,e	Novavax, Inc		848
	2,342,368		Novo Nordisk AS		80,434
	116,000	*	OBI Pharma, Inc		1,044
	97,119	*,e	Ocular Therapeutix, Inc		901
	77,445	*,e	Omeros Corp		1,171
	38,970	*,e	OncoMed Pharmaceuticals, Inc		359
	94,300	*,e	OncoTherapy Science, Inc		208
	130,923		Oneness Biotech Co Ltd		130
	376,195	*,e	Ono Pharmaceutical Co Ltd		7,801
	101,727	*	Ophthotech Corp		372
	644,254	*,e	Opko Health, Inc		5,154
	195,857	*,e	Organovo Holdings, Inc		623
	148,433		Orion Oyj (Class B)		7,743
	45,003	*	Otonomy, Inc		551
	469,046		Otsuka Holdings KK		21,229
	63,833	*,e	OvaScience, Inc		119
	155,359	*,e	Pacific Biosciences of California, Inc		803
	109,096	*	Pacira Pharmaceuticals, Inc		4,975
	1,782,786	*,e	Paion AG.		4,410
	65,805	*,e	Paratek Pharmaceuticals, Inc		1,267
	134,888	*	Parexel International Corp		8,513
	88,208	*	Patheon NV		2,323
	327,861		PDL BioPharma, Inc		744
	45,700	*,e	PeptiDream, Inc		2,158
	4,383	*	Peptron, Inc		167
	323,251	*	PerkinElmer, Inc		18,768
	150,287		Perrigo Co plc		9,978
	176,082	*	Pfenex, Inc		1,023
	17,042		Pfizer Ltd		503
	17,438,608		Pfizer, Inc		596,575
	138,448	*,e	Pharma Mar S.A.		440
	3,086		PHARMA RESEARCH PRODUCTS Co Ltd		90
	57,229		PharmaEngine Inc		383
	117,000	*	PharmaEssentia Corp		604
	14,000		Pharmally International Holding Co Ltd		218
	463,244	e	PharmAthene, Inc		376

120

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	107,636		Phibro Animal Health Corp	$	3,025
	121,864		Piramal Healthcare Ltd		3,572
	187,684	*	Portola Pharmaceuticals, Inc		7,355
	134,247	*	PRA Health Sciences, Inc		8,757
	217,946	*	Prestige Brands Holdings, Inc		12,109
	15,113		Probi AB		707
	139,958	*,e	Progenics Pharmaceuticals, Inc		1,321
	457,254	*	ProMetic Life Sciences, Inc		791
	14,700	*	Protagonist Therapeutics, Inc		188
	19,602	*,e	Proteostasis Therapeutics, Inc		153
	84,966	*,e	Prothena Corp plc		4,740
	52,762,431		PT Kalbe Farma Tbk		6,098
	71,222	*	PTC Therapeutics, Inc		701
	75,378	*,e	Puma Biotechnology, Inc		2,804
	342,209		QIAGEN NV		9,914
	112,695	*	QIAGEN NV		3,271
	369,218	*	Quintiles Transnational Holdings, Inc		29,733
	7,837	*	Ra Pharmaceuticals, Inc		167
	62,595	*	Radius Health, Inc		2,419
	12,428	*,e	Reata Pharmaceuticals, Inc		281
	33,209		Recipharm AB		460
	355,091		Recordati S.p.A.		12,035
	156,782	*	Regeneron Pharmaceuticals, Inc		60,755
	39,957	*	REGENXBIO, Inc		771
	93,420	*,e	Regulus Therapeutics, Inc		154
	65,971	*	Repligen Corp		2,322
	540,819	*	Retrophin, Inc		9,984
	41,977	*	Revance Therapeutics, Inc		873
	3,906		Reyon Pharmaceutical Co Ltd		101
	139,763		Richter Gedeon Rt		3,174
	383,549	*,e	Rigel Pharmaceuticals, Inc		1,270
	1,132,518		Roche Holding AG.		289,623
	73,200		Rohto Pharmaceutical Co Ltd		1,374
	78,845	*	Sage Therapeutics, Inc		5,604
	26,918		Samjin Pharmaceutical Co Ltd		781
	27,548	*,e	Samsung Biologics Co Ltd		4,261
	12,300	*,e	SanBio Co Ltd		130
	141,705	*,e	Sangamo Biosciences, Inc		737
	8,685		Sanofi India Ltd		629
	2,135,437		Sanofi-Aventis		193,033
	344,938		Santen Pharmaceutical Co Ltd		5,010
	3,930	*,e	Santhera Pharmaceutical Holding AG.		302
	163,793	*,e	Sarepta Therapeutics, Inc		4,848
	56,300	e	Sawai Pharmaceutical Co Ltd		3,057
	64,782	*	Schnell Biopharmaceuticals, Inc		194
	223,371	*	Sciclone Pharmaceuticals, Inc		2,189
	192,847		Scinopharm Taiwan Ltd		275
	362,441	*,e,n	Seattle Genetics, Inc		22,783
	113,932	*,e	Seegene, Inc		3,353
	1,056,600		Seikagaku Corp		17,630
	5,133	*	Selecta Biosciences, Inc		74

121

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	69,711	*	Sequent Scientific Ltd	$	138
	96,731	*,e	Seres Therapeutics, Inc		1,090
	368,000	e	Shandong Luoxin Pharmacy Stock Co Ltd		774
	748,000		Shandong Xinhua Pharmaceutical Co Ltd		638
	211,200		Shanghai Dingli Technology Dev		197
	440,251	e	Shanghai Fosun Pharmaceutical Group Co Ltd		1,620
	159,000	e	Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co Ltd		131
	36,200	g	Shanghai Haohai Biological Technology Co Ltd		167
	49,700		Shanghai Shenqi Pharmaceutical Investment Management Co Ltd		79
	19,886		Shilpa Medicare Ltd		195
	743,379		Shionogi & Co Ltd		38,483
	1,106,381		Shire Ltd		64,466
	104,663		Shire plc (ADR)		18,235
	6,528		Siegfried Holding AG.		1,719
	15,694,000		Sihuan Pharmaceutical Holdings		5,962
	4,611,205		Sino Biopharmaceutical		3,797
	44,834		Sirtex Medical Ltd		613
	74,531	*,e	Sorrento Therapeutics, Inc		294
	13,100	*,e	Sosei Group		1,279
	37,690	*,e	Spark Therapeutics, Inc		2,010
	206,727	*	Spectrum Pharmaceuticals, Inc		1,344
	4,779,703	e	SSY Group Ltd		1,901
	46,297		ST Pharm Co Ltd		1,689
	173,116		Stada Arzneimittel AG.		10,603
	2,694	*	Stallergenes Greer plc		92
	50,031	*,e	Stemline Therapeutics, Inc		428
	76,043		Strides Arcolab Ltd		1,286
	63,176	*,e	Sucampo Pharmaceuticals, Inc (Class A)		695
	598,449	e	Sumitomo Dainippon Pharma Co Ltd		9,903
	51,179	*	Sun Pharma Advanced Research Company Ltd		249
	1,707,568		Sun Pharmaceutical Industries Ltd		18,097
	190,313	*	Supernus Pharmaceuticals, Inc		5,957
	42,688		Suven Life Sciences Ltd		109
	20,124	*,e	Syndax Pharmaceuticals, Inc		276
	706,674	*,e	Synergy Pharmaceuticals, Inc		3,293
	201,520	*,e	Synthetic Biologics, Inc		127
	4,608	*	Syros Pharmaceuticals, Inc		73
	33,548	*,e	T2 Biosystems, Inc		176
	214,799	*	Taigen Biopharmaceuticals Holdings Ltd		186
	172,000	*	TaiMed Biologics, Inc		1,009
	41,557		Taisho Pharmaceutical Holdings Co Ltd		3,384
	28,339	*	Taiwan Liposome Co Ltd		108
	37,400		Takara Bio, Inc		514
	872,464		Takeda Pharmaceutical Co Ltd		41,073
	487,078	e	Tanabe Seiyaku Co Ltd		10,170
	24,438	*,e	Taro Pharmaceutical Industries Ltd		2,850
	22,792		Tecan Group AG.		3,639
	75,930	*,e	Teligent, Inc		593
	291,384	*,e	TESARO, Inc		44,835
	134,961	*	Tetraphase Pharmaceuticals, Inc		1,240
	542,209		Teva Pharmaceutical Industries Ltd (ADR)		17,399
	73,764	*,e	TG Therapeutics, Inc		859

122

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	292,331	*,e	TherapeuticsMD, Inc	$	2,105
	97,427	*,e	Theravance Biopharma, Inc		3,587
	876,390		Thermo Fisher Scientific, Inc		134,614
	340,200		Tianjin ZhongXin Pharmaceutical Group Corp Ltd		328
	40,745	*,e	Titan Pharmaceuticals, Inc		134
	20,027	*,m	Tobira Therapeutics, Inc		275
	29,035	*,e	Tokai Pharmaceuticals, Inc		24
	1,333,000		Tong Ren Tang Technologies Co Ltd		2,371
	11,700		Torii Pharmaceutical Co Ltd		303
	7,700		Towa Pharmaceutical Co Ltd		391
	186,775	*	Trevena, Inc		685
	58,388	*,e	Trovagene, Inc		67
	163,592		Tsumura & Co		5,142
	311,917		TTY Biopharm Co Ltd		1,120
	55,000	*	TWi Pharmaceuticals, Inc		165
	308,502		UCB S.A.		23,930
	110,300	*	Ultragenyx Pharmaceutical, Inc		7,476
	43,462		Unichem Laboratories Ltd		192
	509,500	*,e	United Laboratories Ltd		332
	144,837	*	United Therapeutics Corp		19,608
	429,739	*,e	Valeant Pharmaceuticals International, Inc		4,747
	382,359	*	Vanda Pharmaceuticals, Inc		5,353
	472,315	*	Vectura Group plc		904
	53,543	*	Veracyte, Inc		492
	157,001	*	Versartis, Inc		3,352
	953,937	*	Vertex Pharmaceuticals, Inc		104,313
	3,284		Virbac S.A.		514
	11,076	*	ViroMed Co Ltd		934
	60,978	*,e	Vital Therapies, Inc		244
	10,060		Vitrolife AB		482
	24,683	*,e	Voyager Therapeutics, Inc		327
	16,641	*	vTv Therapeutics, Inc		109
	159,591	*	VWR Corp		4,500
	189,198	*	Waters Corp		29,574
	13,875	*,e	WaVe Life Sciences Pte Ltd		382
	38,542		Whanin Pharmaceutical Co Ltd		543
	5,424,000	e	Winteam Pharmaceutical Group Ltd		2,989
	23,282		Wockhardt Ltd		258
	35,077	*,e	XBiotech, Inc		578
	179,971	*	Xencor Inc		4,305
	9,114		Yuhan Corp		1,814
	72,565	*,e	Yungjin Pharmaceutical Co Ltd		530
	393,050		YungShin Global Holding Corp		584
	157,397	*	Zafgen, Inc		733
	15,277	*,e	Zealand Pharma AS		246
	23,300		Zeria Pharmaceutical Co Ltd		359
	237,333	*,e	ZIOPHARM Oncology, Inc		1,505
	2,041,698		Zoetis, Inc		108,965
	51,239	*	Zogenix, Inc		556
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		8,555,607

123

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
REAL ESTATE - 3.6%
	18,050,000		8990 Holdings, Inc	$	2,445
	1,558,243		Abacus Property Group		3,856
	159,177		Acadia Realty Trust		4,785
	1,313		Activia Properties Inc		6,262
	20,297	*,e	ADLER Real Estate AG.		303
	44,945	g	ADO Properties S.A.		1,614
	1,199		Advance Residence Investment Corp		3,286
	33,966	e	Aedifica S.A.		2,559
	27,876		Aeon Mall Co Ltd		440
	5,257	e	AEON REIT Investment Corp		5,847
	1	*	Africa Israel Investments Ltd		0	^
	26,682		Africa Israel Properties Ltd		540
	1,288,518	e	Agile Property Holdings Ltd		1,117
	68,712		Agree Realty Corp		3,295
	485,841		AIMS AMP Capital Industrial REIT		481
	65,008	*	Airport City Ltd		836
	3,068,264		Aldar Properties PJSC		1,888
	91,914		Alexander & Baldwin, Inc		4,092
	4,162		Alexander’s, Inc		1,797
	101,946		Alexandria Real Estate Equities, Inc		11,267
	76,920		Aliansce Shopping Centers S.A.		378
	10,131,158	e	Allco Commercial Real Estate Investment Trust		9,271
	32,141		Allied Properties Real Estate Investment Trust		872
	26,639		Allreal Holding AG.		4,351
	268,465		Alony Hetz Properties & Investments Ltd		2,530
	204,083	e	Alstria Office REIT-AG.		2,495
	33,589	*,e	Altisource Portfolio Solutions S.A.		1,236
	29,103		Altus Group Ltd		637
	4,117,800		Amata Corp PCL (Foreign)		2,133
	249,142		American Assets Trust,Inc		10,424
	263,398		American Campus Communities, Inc		12,535
	698,311		American Homes 4 Rent		16,033
	863,965		American Tower Corp		105,006
	384,334		Amot Investments Ltd		1,857
	943,200		Ananda Development PCL (FOREIGN)		137
	5,646		ANF Immobilier		122
	3,501,960	*	AP Thailand PCL (Foreign)		734
	920,141		Apartment Investment & Management Co (Class A)		40,808
	520,035		Apple Hospitality REIT, Inc		9,933
	95,000	e	Ardepro Co Ltd		125
	1,577,596		Argosy Property Ltd		1,073
	252,686		Armada Hoffler Properties, Inc		3,510
	2,039,889		Arrowhead Properties Ltd (Class A)		1,391
	116,547		Artis Real Estate Investment Trust		1,159
	1,530,400	e	Ascendas Hospitality Trust		853
	1,229,900		Ascendas India Trust		989
	517,976		Ascendas REIT		933
	2,447,519	e	Ascott Residence Trust		1,898
	228,297		Ashford Hospitality Prime, Inc		2,422
	219,951		Ashford Hospitality Trust, Inc		1,401
	1,756,530		Assura Group Ltd		1,273
	993,417	*	Attacq Ltd		1,262
	29,709	*,e	AV Homes, Inc		489

124

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	328,722		AvalonBay Communities, Inc	$	60,353
	1,064,385		Aveo Group		2,609
	52,189		Axia Real Estate SOCIMI S.A.		779
	925,566		Axis Real Estate Investment Trust		345
	8,729,315		Ayala Land, Inc		5,748
	59,896		Azrieli Group		3,183
	7,622,000		Bangkokland PCL		404
	251,725		Barwa Real Estate Co		2,468
	2,012		Bayside Land Corp		935
	21,747		Befimmo SCA Sicafi		1,236
	2,636,000		Beijing Capital Land Ltd		1,191
	3,264,000	*	Beijing Enterprises Medical & Health Group Ltd		227
	1,652,000		Beijing North Star Co		612
	1,844,000	*,e	Beijing Properties Holdings Ltd		88
	1,115,984		Beni Stabili S.p.A.		698
	11,461		Big Shopping Centers Ltd		810
	492,950		Big Yellow Group plc		4,512
	1,230		BLife Investment Corp		3,203
	8,968		Blue Square Real Estate Ltd		421
	63,797		Bluerock Residential Growth REIT, Inc		785
	32,519		Boardwalk REIT		1,153
	595,388		Boston Properties, Inc		78,835
	982,441		BR Malls Participacoes S.A.		4,547
	60,808		BR Properties S.A.		178
	172,617		Brandywine Realty Trust		2,802
	721,655		British Land Co plc		5,516
	359,585		Brixmor Property Group, Inc		7,717
	10,356		Brookfield Canada Office Properties		243
	763,571		Bunnings Warehouse Property Trust		1,662
	69,757		BUWOG AG.		1,758
	29,698,414	e	C C Land Holdings Ltd		7,873
	195,571		CA Immobilien Anlagen AG.		4,293
	664,300		Cache Logistics Trust		401
	783,309		Cambridge Industrial Trust		325
	138,324		Camden Property Trust		11,130
	257,137		Canadian Apartment Properties REIT		6,439
	34,922		Canadian Real Estate Investment Trust		1,273
	558,700	e	CapitaCommercial Trust		617
	624,248	e	Capital & Counties Properties		2,277
	4,899,891		CapitaLand Ltd		12,718
	1,122,181		CapitaMall Trust		1,580
	1,369,400		CapitaMalls Malaysia Trust		504
	440,632	e	CapitaRetail China Trust		466
	93,159		Care Capital Properties, Inc		2,503
	249,096		CareTrust REIT, Inc		4,190
	4,500,000	*,e	Carnival Group International Holdings Ltd		486
	441,386		Castellum AB		5,850
	77,391		CatchMark Timber Trust Inc		892
	580,300		Cathay Real Estate Development Co Ltd		413
	334,402	e	CBL & Associates Properties, Inc		3,190
	843,411	*	CBRE Group, Inc		29,342
	500,200	e	CDL Hospitality Trusts		513

125

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,000,000		Cebu Holdings, Inc	$	1,537
	166,799	e	Cedar Realty Trust, Inc		837
	47,423		Cedar Woods Properties Ltd		203
	1,330,000		Central China Real Estate Ltd		329
	1,413,658		Central Pattana PCL (Foreign)		2,417
	379,176		Centuria Industrial REIT		718
	4,067,636		Champion Real Estate Investment Trust		2,492
	1,382,765		Charter Hall Group		5,830
	189,775		Chatham Lodging Trust		3,748
	244,548		Chesapeake Lodging Trust		5,859
	4,157,667		Cheuk Nang Holdings Ltd		2,818
	3,591,312		Cheung Kong Property Holdings Ltd		24,226
	4,492,500		China Aoyuan Property Group Ltd		1,353
	2,000,000	e	China Electronics Optics Valley Union Holding Co Ltd		196
	5,028,663	e	China Evergrande Group		4,663
	2,298,000	*,e	China Logistics Property Holdings Co Ltd		872
	1,030,000		China Merchants Land Ltd		168
	3,240,000	*,e	China Minsheng Drawin Technology Group Ltd		104
	9,385,021	*	China New Town Development Co Ltd		513
	767,000	*,e	China Overseas Grand Oceans Group Ltd		405
	7,663,320		China Overseas Land & Investment Ltd		21,901
	1,130,000	e	China Overseas Property Holdings Ltd		208
	3,175,192		China Resources Land Ltd		8,588
	5,112,400	e	China SCE Property Holdings Ltd		1,928
	2,316,000	e	China South City Holdings Ltd		477
	5,503,315		China Vanke Co Ltd		14,884
	335,500	e	Chinese Estates Holdings Ltd		517
	34,956		Choice Properties REIT		364
	151,088		Chong Hong Construction Co		369
	9,112,758		CIFI Holdings Group Co Ltd		3,541
	128,779		City Developments Ltd		938
	172,509		City Office REIT, Inc		2,096
	394,315	e	Citycon Oyj		933
	49,444		Cofinimmo		5,642
	82,624		Colliers International Group, Inc		3,909
	1,093,885		Colony NorthStar, Inc		14,122
	553,629		Colony Starwood Homes		18,796
	515,000	e	Colour Life Services Group		332
	457,937		Columbia Property Trust, Inc		10,189
	1,193	*,e	Comforia Residential REIT, Inc		2,710
	237,792		Cominar Real Estate Investment Trust		2,575
	34,307		Community Healthcare Trust, Inc		820
	248,800		Concentradora Fibra Danhos S.A. de C.V.		412
	394,200		Concentradora Fibra Hotelera Mexicana S.A. de C.V.		320
	7,547		Consolidated-Tomoka Land Co		404
	24,770	*,m	Conwert Immobilien Invest SE		427
	452,308		CoreCivic, Inc		14,212
	23,771	e	CorEnergy Infrastructure Trust, Inc		803
	106,586		Coresite Realty		9,598
	629,936		Corp Inmobiliaria Vesta SAB de C.V.		876
	103,333	e	Corporate Office Properties Trust		3,420
	6,181,628		Country Garden Holdings Co Ltd		5,559
	133,696	e	Countrywide plc		261

126

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	703,309		Cousins Properties, Inc	$	5,816
	1,552		Crescendo Investment Corp		1,169
	1,790,391		Croesus Retail Trust		1,139
	33,209		Crombie Real Estate Investment Trust		348
	2,387,566		Cromwell Group		1,742
	1,275,825		Crown Castle International Corp		120,502
	702,000	*,e	Crown International Corp Ltd		130
	20,488,943		CSI Properties Ltd		936
	95,412		CT Real Estate Investment Trust		1,079
	408,302		CubeSmart		10,600
	434,086	e	CyrusOne, Inc		22,342
	56,612	*	D Carnegie & Co AB		655
	758	*	DA Office Investment Corp		3,878
	190,100		Daibiru Corp		1,673
	356,000		Daikyo, Inc		708
	2,595,900		Daiman Development BHD		1,330
	47,720		Daito Trust Construction Co Ltd		6,561
	489,187		Daiwa House Industry Co Ltd		14,061
	234,269		DCT Industrial Trust, Inc		11,273
	805,208		DDR Corp		10,089
	1,886,725		Delta Property Fund Ltd		1,249
	128,950		Derwent London plc		4,543
	401,567		Deutsche Annington Immobilien SE		14,148
	170,456		Deutsche Euroshop AG.		6,968
	388,767		Deutsche Wohnen AG.		12,803
	605,943		Dexus Property Group		4,523
	1,292,077	*	Deyaar Development PJSC		200
	593,713		DiamondRock Hospitality Co		6,620
	123,779		DIC Asset AG.		1,229
	289,937		Digital Realty Trust, Inc		30,846
	439,374		Dios Fastigheter AB		2,156
	9,147,072		DLF Ltd		20,939
	82,188	*	Dogus Gayrimenkul Yatirim Ortakligi AS		92
	371,463		Dongwon Development Co Ltd		1,428
	857,850		DoubleDragon Properties Corp		917
	152,704		Douglas Emmett, Inc		5,864
	56,657		Dream Global REIT		410
	23,150		Dream Industrial Real Estate Investment Trust		143
	41,379		Dream Office Real Estate Investment Trust		599
	45,780	*	Dream Unlimited Corp		234
	365,564		Duke Realty Corp		9,603
	188,802		DuPont Fabros Technology, Inc		9,363
	61,317	e	Easterly Government Properties, Inc		1,213
	628,762		Eastern & Oriental BHD		274
	70,436		EastGroup Properties, Inc		5,179
	906,700	*	Eco World Development Group BHD		322
	203,237		Education Realty Trust, Inc		8,302
	2,166,429		Emaar Malls Group PJSC		1,559
	6,271,047		Emaar Properties PJSC		12,472
	1,193,585	e	Emira Property Fund Ltd		1,250
	14,082,761		Emlak Konut Gayrimenkul Yatiri		11,237
	2,057,333		Emperor International Holdings		640

127

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	366,607		Empire State Realty Trust, Inc	$	7,567
	391,614		Empiric Student Property plc		531
	181,400		Entertainment Properties Trust		13,356
	273,377	g	Entra ASA		2,988
	163,144		Equinix, Inc		65,318
	242,824	*	Equity Commonwealth		7,581
	436,938	e	Equity Lifestyle Properties, Inc		33,670
	1,064,750		Equity Residential		66,249
	984,765	*	Eshraq Properties Co PJSC		286
	196,724		Essex Property Trust, Inc		45,548
	64,496		Eurobank Properties Real Estate Investment Co		564
	41,794		Eurocommercial Properties NV		1,497
	284,771		Extra Space Storage, Inc		21,184
	882,369		Ezdan Holding Group QSC		3,823
	160,434	e	Fabege AB		2,551
	3,673,000	e	Fantasia Holdings Group Co Ltd		596
	2,025,922		Far East Consortium		939
	643,000		Far East Hospitality Trust		276
	1,104,812		Farglory Land Development Co Ltd		1,495
	48,223	e	Farmland Partners, Inc		539
	96,951	*	Fastighets AB Balder		2,022
	247,025		Federal Realty Investment Trust		32,978
	646,436		FelCor Lodging Trust, Inc		4,855
	5,807,806		Fibra Uno Administracion S.A. de C.V.		9,951
	18,000,000		Filinvest Development Corp		2,834
	62,493,000		Filinvest Land, Inc		2,040
	90,586		First Capital Realty, Inc		1,364
	453,764		First Industrial Realty Trust, Inc		12,084
	113,895		First Potomac Realty Trust		1,171
	864,226		First Real Estate Investment Trust		809
	67,751		FirstService Corp		4,097
	489,691		Folkestone Education Trust		1,032
	50,578		Fonciere Des Regions		4,217
	474,822		Forest City Realty Trust, Inc		10,342
	247,739	*	Forestar Group, Inc		3,382
	711,921		Fortress Income Fund Ltd		1,763
	494,027		Fortress Income Fund Ltd (A Shares)		618
	510,024		Four Corners Property Trust, Inc		11,644
	206,881	e	Foxtons Group plc		249
	204,128		Franklin Street Properties Corp		2,478
	10,191,725		Franshion Properties China Ltd		3,270
	429,200	e	Frasers Centrepoint Trust		647
	778,100	e	Frasers Logistics & Industrial Trust		548
	1,028		Frontier Real Estate Investment Corp		4,672
	15,434	*	FRP Holdings, Inc		617
	521	*	Fukuoka REIT Corp		854
	8,052,500	e	Fullshare Holdings Ltd		3,567
	1,464,000	e	Future Land Development Holdin		426
	1,930,016		Gaming and Leisure Properties, Inc		64,501
	377,958	e	Gateway Lifestyle		604
	87,337		Gazit Globe Ltd		901
	21,013		Gazit, Inc		442
	567,141		GDI Property Group		453

128

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	22,667		Gecina S.A.	$	3,073
	3,328,000		Gemdale Properties and Investment Corp Ltd		223
	207,373		Geo Group, Inc		9,616
	50,910		Getty Realty Corp		1,286
	1,957,384		GGP, Inc		45,372
	47,911		Gladstone Commercial Corp		990
	2,880,591		Global Logistic Properties		5,724
	44,494	e	Global Medical REIT, Inc		404
	130,982	*,e	Global Net Lease, Inc		3,154
	454		Global One Real Estate Investment Corp		1,604
	397,288	*	Globe Trade Centre S.A.		842
	2,571,895	*,e	Glorious Property Holdings Ltd		288
	3,469		GLP J-Reit		4,016
	43,450		Godrej Properties Ltd		258
	57,080		Goldcrest Co Ltd		1,028
	468,000		Golden Land Property Development PCL		93
	1,249,476	e	Goodman Property Trust		1,055
	143,027	e	Government Properties Income Trust		2,994
	919,186		GPT Group (ASE)		3,618
	1,208,552		Grainger plc		3,726
	299,468		Gramercy Property Trust		7,876
	89,319	e	Grand City Properties S.A.		1,643
	105,930		Granite REIT		3,706
	352,115		Great Eagle Holdings Ltd		1,657
	476,145		Great Portland Estates plc		3,886
	2,403,473		Green REIT plc		3,487
	1,286,000	*,e	Greenland Hong Kong Holdings Ltd		346
	540,500	*,e	Greentown China Holdings Ltd		515
	1,511		Griffin Land & Nurseries, Inc (Class A)		47
	203,324	e	Growthpoint Properties Australia Ltd		492
	2,326,654		Growthpoint Properties Ltd		4,485
	460,000	*	Grupo GICSA S.A. de C.V.		315
	458,000	*	Guangdong Land Holdings Ltd		110
	2,901,085		Guangzhou R&F Properties Co Ltd		4,532
	738,000	e	Guorui Properties Ltd		213
	111,197		H&R Real Estate Investment Trust		1,929
	67,750	e	Hamborner AG.		690
	420,520		Hammerson plc		3,007
	116,000		Hang Lung Group Ltd		495
	8,847,110		Hang Lung Properties Ltd		23,000
	1,154	e	Hankyu Reit, Inc		1,562
	1,743,935		Hansteen Holdings plc		2,611
	1,374,608		HCP, Inc		42,998
	1,050	*	Health Care & Medical Investment Corp		941
	293,105		Healthcare Realty Trust, Inc		9,526
	605,205		Healthcare Trust of America, Inc		19,040
	106,200	e	Heiwa Real Estate Co Ltd		1,506
	257,762		Helical Bar plc		1,012
	201,548		Heliopolis Housing		329
	358,581		Hemfosa Fastigheter AB		3,197
	2,143,017		Henderson Land Development Co Ltd		13,288
	81,428		Hersha Hospitality Trust		1,530

129

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	244,699		HFF, Inc (Class A)	$	6,771
	26,087,062		Hibernia REIT plc		34,648
	3,118,042		Highwealth Construction Corp		5,482
	294,304		Highwoods Properties, Inc		14,459
	164,594		Hispania Activos Inmobiliarios SAU		2,362
	199,880	*,e	HKC Holdings Ltd		117
	119,300	*	HNA Innovation Hainan Co Ltd		63
	1,428,594		Hongkong Land Holdings Ltd		10,979
	1,050,000		Hopson Development Holdings Ltd		967
	464	*,e	Hoshino Resorts REIT, Inc		2,448
	235,467		Hospitality Properties Trust		7,424
	2,185,923		Host Marriott Corp		40,789
	211,448	*	Housing Development & Infrastruture Ltd		267
	82,769	*	Howard Hughes Corp		9,705
	647,235		Huaku Development Co Ltd		1,491
	98,000		Huang Hsiang Construction Co		148
	424,030		Hudson Pacific Properties		14,688
	254,920		Hufvudstaden AB (Series A)		3,776
	819		Hulic Reit, Inc		1,358
	479,362		Hung Poo Real Estate Development Corp		408
	406,000		Hung Sheng Construction Co Ltd		254
	1,066,000		Hydoo International Holding Ltd		92
	368,802		Hyprop Investments Ltd		3,373
	371,752		Hysan Development Co Ltd		1,687
	12,971		Icade		949
	362,900	e	Ichigo Holdings Co Ltd		1,066
	3,381	*	Ichigo Real Estate Investment Corp		2,130
	2,807,400		IGB Real Estate Investment Trust		1,072
	57,000		Iguatemi Empresa de Shopping Centers S.A.		597
	1,033,051	e	Immobiliare Grande Distribuzione		904
	1,355,948	*,e,m	Immoeast AG.		0
	658,721	*,e,m	Immofinanz ANSPR NACHB AG.		0
	1,186,322		Immofinanz Immobilien Anlagen AG.		2,266
	325,985		Independence Realty Trust, Inc		3,054
	180,065	*	Indiabulls Real Estate Ltd		243
	361		Industrial & Infrastructure Fund Investment Corp		1,626
	942,310	*	ING Office Fund		3,421
	2,771,641		Ingenia Communities Group		5,739
	193,657		Inmobiliaria Colonial S.A.		1,448
	33,896		InterRent Real Estate Investment Trust		195
	1,974		Intershop Holding AG.		981
	10,089		Intervest Offices		256
	287,164	e	Intu Properties plc		1,005
	4,727		Invesco Office J-Reit, Inc		4,231
	2,900	*	Investis Holding S.A.		168
	14,000	e	Investors Cloud Co Ltd		593
	220,590	e	Investors Real Estate Trust		1,308
	6,266	*	Invincible Investment Corp		2,523
	73,191	*	Invitation Homes, Inc		1,598
	3,200,366		IOI Properties Group Sdn BHD		1,497
	785,367	e	Irish Residential Properties REIT plc		1,039
	499,915		Iron Mountain, Inc		17,832
	1,626,123		Is Gayrimenkul Yatirim Ortakligi AS		649

130

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	27,000	e	iShares Dow Jones US Real Estate Index Fund	$	2,119
	133,600	*	iStar Financial, Inc		1,576
	962	*	Japan Excellent, Inc		1,183
	8,757		Japan Hotel REIT Investment Corp		6,049
	783	*	Japan Logistics Fund Inc		1,686
	311		Japan Prime Realty Investment Corp		1,206
	321		Japan Real Estate Investment Corp		1,704
	1,816	e	Japan Rental Housing Investments, Inc		1,334
	600		Japan Retail Fund Investment Corp		1,178
	1,620	*,e	Japan Senior Living Investment Corp		2,010
	135,769	*	Jerusalem Economy Ltd		318
	1,596,750	*,m	Jiangsu Future Land Co Ltd		3,832
	512,000	*	Jiayuan International Group Ltd		240
	52,273		Jones Lang LaSalle, Inc		5,826
	71,900		Jowa Holdings Co Ltd		1,774
	13,000,000	e	Joy City Property Ltd		1,925
	2,827,995		K Wah International Holdings Ltd		1,879
	424		Kenedix Realty Investment Corp		2,501
	905		Kenedix Residential Investment Corp		2,547
	1,395		Kenedix Retail REIT Corp		3,133
	4,581,200		Kenedix, Inc		18,256
	323,398		Kennedy-Wilson Holdings, Inc		7,179
	571,017		Keppel DC REIT		490
	2,516,504		Kerry Properties Ltd		8,729
	50,786		Killam Apartment Real Estate Investment Trust		484
	274,319		Kilroy Realty Corp		19,773
	363,278		Kimco Realty Corp		8,025
	1,670,000		Kindom Construction Co		1,203
	229,510		Kite Realty Group Trust		4,934
	1,298,209		Kiwi Property Group Ltd		1,297
	79,600		KLCC Property Holdings BHD		143
	111,094	e	Klepierre		4,316
	785,189		Klovern AB (B Shares)		782
	30,987		Korea Asset In Trust Co Ltd		238
	111,552		Korea Real Estate Investment Trust Co		311
	3,371,130	e	Kowloon Development Co Ltd		3,497
	1,964,444	e	K-REIT Asia		1,475
	462,049		KSL Holdings BHD		133
	27,437	*,e	Kungsleden AB		156
	138,227	e	Kungsleden AB		792
	330,185		Kuoyang Construction Co Ltd		141
	2,010,624		KWG Property Holding Ltd		1,457
	80,388,935		Lai Fung Holdings Ltd		2,200
	23,870,315		Lai Sun Development Co Ltd		615
	42,461		Lamar Advertising Co		3,174
	31,487	*	Lamda Development S.A.		157
	779,063		Land Securities Group plc		10,347
	3,830,000		Langham Hospitality Investments Ltd		1,617
	70,646		Lar Espana Real Estate Socimi S.A.		544
	250,056		LaSalle Hotel Properties		7,239
	3,688	*,e	LaSalle Logiport REIT		3,417
	89,550		LEG Immobilien AG.		7,340

131

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	654,712		Lend Lease Corp Ltd	$	7,787
	725,211		Leopalace21 Corp		3,747
	453,092		Lexington Realty Trust		4,522
	170,268		Liberty Property Trust		6,564
	98,980		Life Storage, Inc		8,128
	14,000	*	Lifestyle Properties Development Ltd		8
	634,497		Link REIT		4,447
	3,510,900	e	Lippo-Mapletree Indonesia Retail Trust		991
	360,000		Liu Chong Hing Investment		514
	4,046,000	e	Logan Property Holdings Co Ltd		2,136
	461,457		London & Stamford Property plc		924
	5,796,678		Longfor Properties Co Ltd		9,543
	4,807,800		LPN Development PCL (Foreign)		1,694
	340,000	*	LPS Brasil Consultoria de Imoveis S.A.		490
	271,480		LSR Group (GDR)		996
	117,982		LTC Properties, Inc		5,651
	148,230		Macerich Co		9,546
	266,400		Mack-Cali Realty Corp		7,177
	254,923		Macquarie CountryWide Trust		845
	1,626,171		Macquarie Goodman Group		9,615
	1,104,190	e	Macquarie MEAG Prime REIT		596
	10,610	e	Magnolia Bostad AB		98
	910,476		Mah Sing Group BHD		298
	465,100	e	Manulife US Real Estate Investment Trust		391
	35,779	*,e,m	Mapeley Ltd		0	^
	1,449,482		Mapletree Commercial Trust		1,585
	2,687,200		Mapletree Greater China Commercial Trust		1,958
	2,961,519	e	Mapletree Industrial Trust		3,768
	3,926,273		Mapletree Logistics Trust		3,073
	88,120	*	Marcus & Millichap, Inc		2,166
	803,674		Matrix Concepts Holdings BHD		461
	56,826	*	Mazaya Qatar Real Estate Development Q.S.C		225
	62,187		MedEquities Realty Trust, Inc		697
	731,590	e	Medical Properties Trust, Inc		9,430
	1,103,417	*	Medinet Nasr Housing		1,411
	141,679,310		Megaworld Corp		9,541
	42,805		Melisron Ltd		2,385
	39,142	e	Mercialys S.A		730
	254,905		Merlin Properties Socimi S.A.		2,848
	2,458,100		Mexico Real Estate Management S.A. de C.V.		2,751
	1,632,162		MGM Growth Properties LLC		44,150
	911		MID Reit, Inc		2,757
	445,773		Mid-America Apartment Communities, Inc		45,353
	970,929	*	Midland Holdings Ltd		259
	30,620		Milestone Apartments Real Estate Investment Trust		497
	1,144,000	e	Minmetals Land Ltd		147
	1,766,903		Mirvac Group		2,956
	834,081		Mitsubishi Estate Co Ltd		15,203
	1,052,616		Mitsui Fudosan Co Ltd		22,475
	567	*	Mitsui Fudosan Logistics Park, Inc		1,674
	58,400		MKH BHD		40
	12,508		Mobimo Holding AG.		3,237
	340,276		Monmouth Real Estate Investment Corp (Class A)		4,856

132

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,194,910		Monogram Residential Trust, Inc	$	11,913
	23,895		Morguard Real Estate Investment Trust		286
	1,334		Mori Hills REIT Investment Corp		1,788
	977		Mori Trust Sogo Reit, Inc		1,513
	93,743		Multiplan Empreendimentos Imobiliarios S.A.		1,985
	108,442		National Health Investors, Inc		7,876
	270,265		National Retail Properties, Inc		11,789
	467,903		National Storage Affiliates Trust		11,183
	981,760		National Storage REIT		1,073
	1,244,000		Neo-China Land Group Holdings Ltd		287
	232,471		New Europe Property Investments plc		2,412
	265,192		New Senior Investment Group, Inc		2,705
	10,681,733		New World Development Co Ltd		13,162
	564,248	e	NewRiver REIT plc		2,388
	105,922		Nexity		5,207
	124,233		NexPoint Residential Trust, Inc		3,001
	298,581		Nieuwe Steen Investments NV		1,226
	357		Nippon Accommodations Fund, Inc		1,551
	452		Nippon Building Fund, Inc		2,478
	900	*,e	Nippon Healthcare Investment Corp		1,398
	1,096		Nippon ProLogis REIT, Inc		2,376
	4,157	*,e	NIPPON REIT Investment Corp		10,800
	518,044		Nomura Real Estate Holdings, Inc		8,267
	4,125		Nomura Real Estate Master Fund, Inc		6,416
	109,301		NorthStar Realty Europe Corp		1,267
	18,436		Northview Apartment Real Estate Investment Trust		303
	58,338		NorthWest Healthcare Properties Real Estate Investment Trust		463
	145,407		Norwegian Property ASA		169
	620,000	e	NTT Urban Development Corp		5,408
	93,215		Oberoi Realty Ltd		529
	534,611		Omega Healthcare Investors, Inc		17,637
	41,510		One Liberty Properties, Inc		970
	198,400		Open House Co Ltd		4,772
	2,273		Orix JREIT, Inc		3,599
	781,900	e	OUE Hospitality Trust		386
	575,244		Outfront Media, Inc		15,273
	730,000		Overseas Chinese Town Asia Holdings Ltd		287
	1,165,054		Palm Hills Developments SAE		209
	441,152		Paramount Group, Inc		7,151
	510,915	e	Park Hotels & Resorts, Inc		13,115
	282,300		Parkway Life Real Estate Investment Trust		509
	131,085		Parkway, Inc		2,607
	1,262,976		Parque Arauco S.A.		3,346
	32,562	*	Patrizia Immobilien AG.		577
	695,700		Pavilion Real Estate Investment Trust		274
	216,670	e	Pebblebrook Hotel Trust		6,329
	142,796		Pennsylvania REIT		2,162
	1,171,017		Phoenix Mills Ltd		6,820
	728,756		Physicians Realty Trust		14,480
	147,854		Piedmont Office Realty Trust, Inc		3,161
	1,296,000		PLA Administradora Industrial S de RL de C.V.		2,120

133

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	720,100		Platinum Group PCL	$	155
	1,670,817	*,e	Poly Hong Kong Investment Ltd		697
	6,766,160		Polytec Asset Holdings Ltd		549
	80,064		Potlatch Corp		3,659
	5,057,000	e	Powerlong Real Estate Holdings Ltd		1,920
	16,301,000		PP Properti Tbk PT		355
	1,821,295		Precinct Properties New Zealand Ltd		1,558
	76,563		Preferred Apartment Communities, Inc		1,011
	1,086		Premier Investment Co		1,228
	464,532	e	Primary Health Properties plc		643
	2,345,826		Prince Housing & Development Corp		920
	1,405,600		ProLogis Property Mexico S.A. de C.V.		2,411
	1,678,966		Prologis, Inc		87,105
	980,000		Prosperity REIT		389
	88,892		PS Business Parks, Inc		10,201
	36,896		PSP Swiss Property AG.		3,357
	4,331,500	*	PT Agung Podomoro Land Tbk		71
	7,973,500		PT Alam Sutera Realty Tbk		217
	7,631,647		PT Bumi Serpong Damai		1,079
	26,421,052		PT Ciputra Development Tbk		2,439
	54,019,100	*	PT Hanson International Tbk		576
	5,283,500		PT Intiland Development Tbk		165
	113,088,430		PT Kawasan Industri Jababeka Tbk		2,801
	352,100	*	PT Lippo Cikarang Tbk		112
	107,932,048		PT Lippo Karawaci Tbk		5,869
	21,500,900		PT Modernland Realty Tbk		474
	27,639,800		PT Pakuwon Jati Tbk		1,275
	10,049,900		PT Summarecon Agung Tbk		1,011
	335,374		Public Storage, Inc		73,417
	4,347,501	*	Puravankara Projects Ltd		4,515
	725,367		Pure Industrial Real Estate Trust		3,322
	739,150	*,e	Purplebricks Group plc		2,630
	322,805		QTS Realty Trust, Inc		15,737
	86,353	*	Quality Care Properties, Inc		1,629
	15,755,522		Quality House PCL		1,202
	581,433	*	Radium Life Tech Co Ltd		216
	221,579		RAIT Investment Trust		709
	957,318		RAK Properties PJSC		164
	315,258		Ramco-Gershenson Properties		4,420
	328,067		Rayonier, Inc		9,297
	34,904		Re/Max Holdings, Inc		2,075
	208,780	*	Realia Business S.A.		211
	417,041		Realogy Holdings Corp		12,424
	241,495		Realty Income Corp		14,376
	1,213,029	e	Rebosis Property Fund Ltd		1,144
	978,848		Redefine International plc		452
	4,722,606		Redefine Properties Ltd		3,872
	26,943,000		Regal Real Estate Investment Trust		7,700
	593,618		Regency Centers Corp		39,410
	504,332		Reit  Ltd		1,676
	77,000	e	Relo Holdings, Inc		1,280
	12,323,250	*,e	Renhe Commercial Holdings Co Ltd		309
	261,642		Resilient REIT Ltd		2,276

134

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	596,496		Retail Opportunities Investment Corp	$	12,544
	610,113		Retail Properties of America, Inc		8,798
	549,911		Rexford Industrial Realty, Inc		12,384
	373,090		RioCan Real Estate Investment Trust		7,350
	370,668		RLJ Lodging Trust		8,714
	85,179		RMR Group, Inc		4,216
	910,000		Road King Infrastructure		1,054
	1,168,000		Robinsons Land Corp		535
	1,324,500	*,e	Ronshine China Holdings Ltd		1,004
	798,242	*	Ruentex Development Co Ltd		956
	100,070		Ryman Hospitality Properties		6,187
	6,268,209		S.A. Corporate Real Estate Fund Nominees Pty Ltd		2,570
	2,415,173		Sabana Shari’ah Compliant Industrial REIT		872
	203,629		Sabra Healthcare REIT, Inc		5,687
	658,947		Safestore Holdings plc		3,115
	900	*	Samty Residential Investment Corp		665
	24,996,277		Sansiri PCL		1,484
	33,260		Saul Centers, Inc		2,049
	339,613		Savills plc		3,924
	262,123	*	SBA Communications Corp		31,552
	3,971,100		SC Asset Corp PCL		428
	6,890,960		Scentre Group		22,591
	413,334		Schroder Real Estate Investment Trust Ltd		320
	826,759		Segro plc		4,727
	659	*	Sekisui House Reit, Inc		873
	815	e	Sekisui House SI Residential Investment Corp		906
	143,528		Select Income REIT		3,702
	90,825		Selvaag Bolig ASA		388
	246,142		Senior Housing Properties Trust		4,984
	49,608	e	Seritage Growth Properties		2,141
	529,604		Shaftesbury plc		6,072
	197,200		Shanghai Erfangji Co Ltd		219
	73,900	*	Shanghai Huili Building Materials Co Ltd		88
	1,126,187		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		1,777
	127,400	*	Shenzhen International Enterprise Co Ltd		79
	7,006,019		Shenzhen Investment Ltd		3,140
	189,500		Shenzhen SEG Co Ltd		107
	1,662,761		Shimao Property Holdings Ltd		2,643
	351,913	*	Shining Building Business Co Ltd		130
	79,834		Shoei Co Ltd		754
	1,988,823		Shopping Centres Australasia Property Group		3,404
	19,441,000		Shui On Land Ltd		4,380
	1,100	*	SIA Reit, Inc		1,806
	388,516		Siam Future Development PCL		72
	157,809		Silver Bay Realty Trust Corp		3,388
	759,571		Simon Property Group, Inc		130,669
	1,518,500	*	Singha Estate PCL		213
	1,705,169		Sino Land Co		2,990
	1,736,000	*,e	Sinolink Worldwide Holdings Ltd		190
	18,219,644		Sino-Ocean Land Holdings Ltd		8,560
	169,614		Sinyi Realty Co		196

135

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,155,071	*	Six of October Development & Investment	$	852
	2,413		SK D&D Co Ltd		94
	448,703		SL Green Realty Corp		47,841
	8,167,690		SM Prime Holdings		4,606
	58,893		Smart Real Estate Investment Trust		1,447
	986,977		Sobha Developers Ltd		5,223
	2,694,635		Soho China Ltd		1,442
	566,600		Soilbuild Business Space REIT		273
	55,400		Sonae Sierra Brasil S.A.		393
	150,869		Sparkassen Immobilien AG.		1,807
	598,900		SPH REIT		419
	1,741,309		Spirit Realty Capital, Inc		17,639
	540,932		Sponda Oyj		2,260
	1,027,000	e	Spring Real Estate Investment Trust		435
	423,639		ST Modwen Properties plc		1,725
	98,757	*	St. Joe Co		1,684
	239,278	*	STAG Industrial, Inc		5,987
	303,462		Standard Life Investment Property Income Trust Ltd		334
	4,501	e	Star Asia Investment Corp		3,919
	2,200	*,e	Starts Proceed Investment Corp		2,954
	3,585,797		Stockland Trust Group		12,715
	534,935		STORE Capital Corp		12,774
	12,198		Stratus Properties, Inc		334
	25,240		Sumitomo Real Estate Sales Co Ltd		815
	280,377		Sumitomo Realty & Development Co Ltd		7,282
	425,508		Summit Hotel Properties, Inc		6,800
	378,468		Sun Communities, Inc		30,402
	94,000		Sun Frontier Fudousan Co Ltd		821
	3,551,197		Sun Hung Kai Properties Ltd		52,204
	2,315,522	e	Sunac China Holdings Ltd		3,006
	1,417,000		Sunlight Real Estate Investment Trust		841
	946,662		Sunstone Hotel Investors, Inc		14,512
	1,862,398	e	Suntec Real Estate Investment Trust		2,384
	1,066,458		Sunway BHD		782
	1,184,600		Sunway Real Estate Investment		460
	370,000		Supalai PCL		269
	672,193		Swire Pacific Ltd (Class A)		6,719
	5,953,901	e	Swire Properties Ltd		19,082
	64,888		Swiss Prime Site AG.		5,713
	401,466		TAG Tegernsee Immobilien und Beteiligungs AG.		5,402
	604,814		Taiwan Land Development Corp		223
	270,900	e	Takara Leben Co Ltd		1,211
	1,477	*	Takara Leben Infrastructure Fu		1,334
	1,129,861		Talaat Moustafa Group		575
	305,314		Tanger Factory Outlet Centers, Inc		10,005
	244,052		Taubman Centers, Inc		16,112
	111,664		Technopolis plc		361
	27,228	*	Tejon Ranch Co		596
	154,385		Terreno Realty Corp		4,323
	262,000		Tian Shan Development Holding Ltd		109
	298,880		Ticon Industrial Connection PCL (Foreign)		137
	92,801		Tier REIT, Inc		1,611
	173,501		TLG Immobilien AG.		3,378

136

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	48,000		TOC Co Ltd	$	397
	364,600		Tokyo Tatemono Co Ltd		4,821
	365,367		Tokyu Fudosan Holdings Corp		1,989
	2,620		Tokyu REIT, Inc		3,299
	493,167		Torunlar Gayrimenkul Yatirim Ortakligi AS		613
	1,588,700		Tosei Corp		10,475
	2,400	*,e	Tosei Reit Investment Corp		2,313
	136,246	e	Tricon Capital Group, Inc		1,119
	41,787	*,e	Trinity Place Holdings, Inc		305
	2,516,573		Tritax Big Box REIT plc		4,559
	593,300		Tropicana Corp BHD		134
	207,531,700	*	U City PCL		181
	280,476		UDR, Inc		10,170
	1,156,500		UEM Land Holdings BHD		332
	50,798		UMH Properties, Inc		773
	151,556	e	Unibail-Rodamco		35,338
	656,352		Unite Group plc		5,234
	50,116,401	*	Unitech Ltd		4,330
	338,209		United Development Co PSC		1,830
	2,540		United Urban Investment Corp		3,905
	433,283		Uniti Group, Inc		11,200
	699,400		Univentures PCL		148
	24,391		Universal Health Realty Income Trust		1,573
	1,046,048		UOA Development BHD		638
	133,777		UOL Group Ltd		666
	177,674		Urban Edge Properties		4,673
	68,377		Urstadt Biddle Properties, Inc (Class A)		1,406
	58,552		Vastned Retail NV		2,214
	732,380		Ventas, Inc		47,634
	727,531		VEREIT, Inc		6,177
	3,742,429		Vicinity Centres		8,095
	11,992,700		Vista Land & Lifescapes, Inc		1,214
	605,177	e	Viva Energy REIT		1,100
	388,268		Vornado Realty Trust		38,947
	1,738,753		Vukile Property Fund Ltd		2,495
	164,831	e	Wallenstam AB		1,329
	31,794		Warehouses De Pauw SCA		2,957
	1,170,176		Washington Prime Group, Inc		10,169
	144,871		Washington REIT		4,532
	89,899	*,e	WCM Beteiligungs & Grundbesitz-AG.		294
	112,314		Weingarten Realty Investors		3,750
	801,761		Welltower, Inc		56,781
	35,120		Wereldhave NV		1,546
	1,914,460		Westfield Corp		12,987
	1,868,792		Weyerhaeuser Co		63,502
	5,416,235	*	WHA Corp PCL		495
	3,445,332		Wharf Holdings Ltd		29,609
	1,418,591	e	Wheelock & Co Ltd		11,221
	133,655		Whitestone REIT		1,850
	232,023		Wihlborgs Fastigheter AB		4,396
	310,940		Wing Tai Holdings Ltd		419
	290,770		Workspace Group plc		2,860

137

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	122,953		WP Carey, Inc	$	7,650
	14,721		WPT Industrial Real Estate Investment Trust		189
	351,116		Xenia Hotels & Resorts, Inc		5,994
	35,500	e	Xinyuan Real Estate Co Ltd (ADR)		157
	1,974,700		Yanlord Land Group Ltd		2,562
	788,200	*,e	Ying Li International Real Estate Ltd		87
	3,276,366		Yoma Strategic Holdings Ltd		1,499
	650,100		YTL Hospitality REIT		173
	938,000	e	Yuexiu Real Estate Investment Trust		553
	55,530,912		Yuexiul Property Co Ltd		9,434
	5,163,120		Yuzhou Properties Co		2,155
	2,826,800	*	Zhong An Real Estate Ltd		236
			TOTAL REAL ESTATE		4,246,960
RETAILING - 4.1%
	111,278	*	1-800-FLOWERS.COM, Inc (Class A)		1,135
	213,464		Aaron’s, Inc		6,348
	33,139		ABC-Mart, Inc		1,942
	130,971	e	Abercrombie & Fitch Co (Class A)		1,562
	156,600		Adastria Holdings Co Ltd		3,905
	194,010		Advance Auto Parts, Inc		28,764
	12,600	e	Alpen Co Ltd		219
	1,322,488	*,n	Amazon.com, Inc		1,172,439
	404,208	e	American Eagle Outfitters, Inc		5,671
	15,736	*,e	America’s Car-Mart, Inc		574
	163,598	*,e	AO World plc		277
	32,500		AOKI Holdings, Inc		377
	36,541		Aoyama Trading Co Ltd		1,257
	84,600		Arc Land Sakamoto Co Ltd		1,018
	9,700		Asahi Co Ltd		113
	39,608	*	Asbury Automotive Group, Inc		2,380
	337,228	*,e	Ascena Retail Group, Inc		1,437
	15,000	e	ASKUL Corp		441
	316,126	*	ASOS plc		23,907
	16,785	*,e	At Home Group, Inc		254
	52,288	e	Autobacs Seven Co Ltd		777
	20,520	e	AutoCanada, Inc		346
	183,145	e	Automotive Holdings Group Ltd		576
	164,802	*	Autonation, Inc		6,969
	75,176	*	AutoZone, Inc		54,356
	4,370,001		B&M European Value Retail S.A.		16,408
	224,500	*	B2W Companhia Global Do Varejo		886
	204,597	*	Barnes & Noble Education, Inc		1,962
	276,895	e	Barnes & Noble, Inc		2,561
	10		Beauty Community PCL (ADR)		0	^
	1,428,000		Beauty Community PCL (Foreign)		436
	456,955		Bed Bath & Beyond, Inc		18,031
	36,300		Belluna Co Ltd		271
	1,253,360		Berjaya Auto BHD		566
	757,808		Best Buy Co, Inc		37,246
	70,800	e	BIC CAMERA, Inc		651
	66,261	e	Big 5 Sporting Goods Corp		1,001

138

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	87,967	e	Big Lots, Inc	$	4,282
	125,218		Bilia AB		2,584
	861,988	*,e	boohoo.com plc		1,803
	27,593	*,e	Boot Barn Holdings, Inc		273
	537,000	*,e,m	Boshiwa International Holding		1
	53,738	e	Buckle, Inc		1,000
	27,714	*	Build-A-Bear Workshop, Inc		245
	302,879	*	Burlington Stores, Inc		29,467
	280,773		Burson Group Ltd		1,250
	46,245	e	Byggmax Group AB		317
	135,826	*	Cabela’s, Inc		7,214
	229,278		Caleres, Inc		6,058
	125,978	e	Camping World Holdings, Inc		4,062
	83,727		Canadian Tire Corp Ltd		9,946
	170,600		Canon Marketing Japan, Inc		3,397
	628,348		Card Factory plc		2,244
	460,548	*	Carmax, Inc		27,274
	15,492	e	Cashbuild Ltd		432
	78,479		Cato Corp (Class A)		1,723
	548,527		Chico’s FAS, Inc		7,789
	75,208	e	Children’s Place Retail Stores, Inc		9,029
	1,223,000	e	China Animation Characters Co Ltd		507
	2,352,000	*,e	China Beidahuang Industry Group Holdings Ltd		124
	580,500	e	China Harmony New Energy Auto Holding Ltd		244
	2,200,000	e	China Yongda Automobiles Services Holdings Ltd		2,064
	9,260,500		China ZhengTong Auto Services Holdings Ltd		5,570
	13,000		Chiyoda Co Ltd		305
	30,300		Chori Co Ltd		529
	379,000	e	Chow Sang Sang Holding		894
	366,600		Cia Hering		2,104
	109,921		Citi Trends, Inc		1,869
	18,092		CJ O Shopping Co Ltd		3,388
	27,822		Clas Ohlson AB (B Shares)		436
	388,000	*,e,g	Cogobuy Group		549
	490,900		Com7 PCL		153
	27,437	*,e	Conn’s, Inc		240
	34,817	*,e	Container Store Group, Inc		147
	89,290		Core-Mark Holding Co, Inc		2,785
	175,088		CST Brands, Inc		8,420
	802,089	*	Ctrip.com International Ltd (ADR)		39,423
	691,000	e	Dah Chong Hong Holdings Ltd		301
	378,100	e	DCM Japan Holdings Co Ltd		3,496
	906,898		Debenhams plc		618
	79,395		Delek Automotive Systems Ltd		723
	88,447	*	Destination XL Group, Inc		252
	1,410,279		Dick’s Sporting Goods, Inc		68,624
	492,286		Dickson Concepts International Ltd		175
	69,699		Dieteren S.A.		3,261
	46,526		Dillard’s, Inc (Class A)		2,431
	24,125		Dogus Otomotiv Servis ve Ticaret AS		56
	773,669		Dollar General Corp		53,948
	271,461	*	Dollar Tree, Inc		21,299

139

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	309,655		Dollarama, Inc	$	25,662
	83,900		Don Quijote Co Ltd		2,920
	17,500	e	Doshisha Co Ltd		325
	132,631		DSW, Inc (Class A)		2,743
	34,541	*	Dufry Group		5,259
	17,482	*,e	Duluth Holdings, Inc		372
	78,038		Dunelm Group plc		623
	104,989	e,g	Dustin Group AB		791
	52,183	e	EDION Corp		481
	528,536	e	El Puerto de Liverpool SAB de C.V.		4,126
	2,600,000	*	Empresas La Polar S.A.		186
	2,215,100	*	Esprit Holdings Ltd		1,856
	328,575	*	Etsy, Inc		3,493
	84,305	g	Europris ASA		364
	464,521		Expedia, Inc		58,609
	219,853	*	Express Parent LLC		2,003
	824,830		Far Eastern Department Stores Co Ltd		439
	55,175		Fast Retailing Co Ltd		17,363
	29,643	*	FF Group		566
	118,415		Finish Line, Inc (Class A)		1,685
	107,033	*,e	Five Below, Inc		4,636
	586,539		Foot Locker, Inc		43,879
	280,566		Foschini Ltd		3,229
	228,595	*	Francesca’s Holdings Corp		3,509
	168,804	e	Fred’s, Inc (Class A)		2,211
	32,488	*	FTD Cos, Inc		654
	14,100		Fuji Co Ltd		309
	516,718	*	Future Enterprises Ltd		2,130
	12,320	*	Gaia, Inc		123
	433,040	e	GameStop Corp (Class A)		9,765
	798,788		Gap, Inc		19,403
	40,077	*	Genesco, Inc		2,222
	298,871		Genuine Parts Co		27,619
	42,100	e	Geo Corp		463
	2,810,000		Giordano International Ltd		1,523
	302,945	e	GNC Holdings, Inc		2,230
	354,799	e	Golden Eagle Retail Group Ltd		551
	12,491		GOLFZONYUWONHOLDINGS Co Ltd		69
	47,025,844	e	GOME Electrical Appliances Holdings Ltd		6,416
	68,790	e	Greencross Ltd		378
	82,232		Group 1 Automotive, Inc		6,092
	13,148	*	Groupe Fnac		948
	3,235,969	*,e	Groupon, Inc		12,717
	190,227	*,e	Grupo Famsa SAB de C.V.		73
	10,631		GS Home Shopping, Inc		2,186
	118,569	e	Guess?, Inc		1,322
	50,000	e	Gulliver International Co Ltd		319
	510		GwangjuShinsegae Co Ltd		112
	154,857		Halfords Group plc		688
	303,525	e	Hankyu Department Stores, Inc		4,879
	1,216,075	e	Harvey Norman Holdings Ltd		4,206
	36,167		Haverty Furniture Cos, Inc		881
	10,146,762	*	Hengdeli Holdings Ltd		1,528

140

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	559,272		Hennes & Mauritz AB (B Shares)	$	14,273
	44,719	*,e	Hibbett Sports, Inc		1,319
	25,800		Hikari Tsushin, Inc		2,519
	5,442,651		Home Depot, Inc		799,144
	3,709,894		Home Product Center PCL (Foreign)		1,042
	6,491		Hornbach Baumarkt AG.		202
	114,930	e	Hostelworld Group PLC		350
	243,518		Hotai Motor Co Ltd		2,852
	37,532	e	Hotel Shilla Co Ltd		1,515
	184,634		HSN, Inc		6,850
	56,511	e	Hudson’s Bay Co		459
	12,911		Hyundai Department Store Co Ltd		1,166
	4,753		Hyundai Home Shopping Network Corp		542
	224,256	e	Imperial Holdings Ltd		2,748
	862,187		Inchcape plc		9,090
	2,091,614		Industria De Diseno Textil S.A.		73,659
	11,409	*	Infibeam Incorporation Ltd		166
	111,303		Interpark Corp		478
	10,169		Interpark INT Corp		90
	1,334,500	*	Intime Retail Group Co Ltd		1,676
	236,828	e	Isetan Mitsukoshi Holdings Ltd		2,603
	148,000		IT Ltd		64
	30,600		Izumi Co Ltd		1,374
	454,219		J Front Retailing Co Ltd		6,747
	82,259		Jardine Cycle & Carriage Ltd		2,577
	422,914	e	JB Hi-Fi Ltd		7,979
	5,524,548	*,e	JC Penney Co, Inc		34,031
	1,185,752		JD Sports Fashion plc		5,730
	1,186,196	*	JD.com, Inc (ADR)		36,903
	10,200	e	Jin Co Ltd		533
	124,039		John Menzies plc		1,054
	32,000		Joshin Denki Co Ltd		326
	22,100	e	Joyful Honda Co Ltd		739
	200,841		JUMBO S.A.		3,167
	50,800	*	Jumei International Holding Ltd (ADR)		187
	195,725		KappAhl Holding AB		1,012
	26,087	e	Keiyo Co Ltd		133
	120,825		Kering		31,229
	523,355		Kingfisher plc		2,141
	65,000	*	Kintetsu Department Store Co Ltd		199
	29,280		Kirkland’s, Inc		363
	905,592	e	Kohl’s Corp		36,052
	20,700		Kohnan Shoji Co Ltd		392
	14,986		Kolao Holdings		98
	93,400		Komeri Co Ltd		2,311
	213,100	e	K’s Holdings Corp		3,920
	1,117,475		L Brands, Inc		52,633
	27,662	*	Lands’ End, Inc		593
	22,300	*,e	Laox Co Ltd		130
	267,734	e	Lewis Group Ltd		828
	3,537,119	e	Li & Fung Ltd		1,535
	173,795	*	Liberty Expedia Holdings, Inc		7,904

141

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,967,997	*	Liberty Interactive Corp	$	39,399
	451,258	*	Liberty TripAdvisor Holdings, Inc		6,363
	185,226	*	Liberty Ventures		8,239
	661,500	*	Lifestyle China Group Ltd		198
	46,741		Lithia Motors, Inc (Class A)		4,003
	605,707	*	LKQ Corp		17,729
	88,024		Lojas Americanas S.A.		373
	752,694		Lojas Americanas S.A.(Preference)		3,933
	689,145		Lojas Renner S.A.		6,120
	690,088		Lookers plc		1,109
	38,712		LOTTE Himart Co Ltd		1,855
	45,442		Lotte Shopping Co Ltd		8,840
	2,213,814		Lowe’s Companies, Inc		181,998
	274,000	e	Luk Fook Holdings International Ltd		871
	49,853	*,e	Lumber Liquidators, Inc		1,046
	611,435	e	Macy’s, Inc		18,123
	5,400	*	Magazine Luiza S.A.		305
	27,696	*	Maisons du Monde S.A.		872
	74,154	*,e	MakeMyTrip Ltd		2,566
	993,000	*,e	Maoye International Holdings Ltd		96
	55,837	*	MarineMax, Inc		1,209
	51,690	*	Marisa Lojas S.A.		124
	9,463,168		Marks & Spencer Group plc		39,971
	470,423	e	Marui Co Ltd		6,410
	99,437		Matas A.S.		1,412
	23,100	e	Matsuya Co Ltd		219
	18,149	e	Mekonomen AB		357
	148,169		Michael Hill International Ltd		157
	655,514	*	Michaels Cos, Inc		14,677
	118,654		Mobilezone Holding AG.		1,878
	31,000		momo.com, Inc		221
	62,240	e	Monro Muffler, Inc		3,243
	264,792		Mr Price Group Ltd		3,152
	205,257	*	Murphy USA, Inc		15,070
	2,702,007	e	Myer Holdings Ltd		2,508
	121,713	e	N Brown Group plc		320
	1,148,760	*	NetFlix, Inc		169,798
	859,801		New Carphone Warehouse plc		3,425
	469,000	*	New World Department Store China Ltd		75
	52,789		Next plc		2,856
	35,100		Nishimatsuya Chain Co Ltd		397
	83,712		Nitori Co Ltd		10,631
	81,300		Nojima Corp		1,036
	185,991	e	Nordstrom, Inc		8,662
	4,409		NS Shopping Co Ltd		668
	180,211		Nutri/System, Inc		10,002
	389,832	*,e	Ocado Ltd		1,177
	2,457,807		Office Depot, Inc		11,466
	39,062	*	Ollie’s Bargain Outlet Holdings, Inc		1,309
	777,260	g	On the Beach Group plc		2,982
	622,255	*	O’Reilly Automotive, Inc		167,909
	25,092	*	Overstock.com, Inc		432
	1,168,300		Padini Holdings BHD		792

142

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,200	e	Pal Co Ltd	$	199
	120,100		Paltac Corp		3,349
	15,000		Parco Co Ltd		161
	985,500	e	Parkson Retail Group Ltd		123
	52,376	*,e	Party City Holdco, Inc		736
	135,300	e	PC Depot Corp		647
	95,941		PC Jeweller Ltd		618
	93,559		Penske Auto Group, Inc		4,380
	37,076	e	PetMed Express, Inc		747
	291,080	e	Pets at Home Group plc		666
	541,240		Pier 1 Imports, Inc		3,875
	6,320,500		Pou Sheng International Holdings Ltd		1,326
	576,000	*,e	Powerwell Pacific Holdings Ltd		242
	67,528		Poya Co Ltd		795
	73,704		Premier Investments Ltd		806
	134,895	*	Priceline.com, Inc		240,109
	9,806,200		PT ACE Hardware Indonesia Tbk		607
	7,476,623		PT Matahari Department Store Tbk		7,393
	1,298,200	*	PT Mitra Adiperkasa Tbk		582
	19,568,700		PT Multipolar Corp Tbk		455
	8,754,600		PT Ramayana Lestari Sentosa Tbk		732
	455,200		PTG Energy PCL		313
	25,722,500	*,e	Qianhai Health Holdings Ltd		301
	1,164,223		Rakuten, Inc		11,698
	769,856	e	RCG Corp Ltd		641
	100,811	e	Rent-A-Center, Inc		894
	75,574	*,e	Restoration Hardware Holdings, Inc		3,496
	83,400	e	Right On Co Ltd		721
	1,603,767		Ripley Corp S.A.		1,043
	332,300		Robinson Department Store PCL		619
	828,926		Ross Stores, Inc		54,601
	16,400		Ryohin Keikaku Co Ltd		3,605
	460,443		SA SA International Holdings Ltd		181
	2,173,302		SACI Falabella		18,279
	377,519	*	Sally Beauty Holdings, Inc		7,716
	38,200	e	Sanrio Co Ltd		703
	108	*,e	Sears Holdings Corp		1
	23,216	*,e	Sears Hometown and Outlet Stores, Inc		91
	172,030	*,e	Select Comfort Corp		4,265
	290,000		Senao International Co Ltd		508
	63,100	e	Senshukai Co Ltd		456
	13,066		Seobu Truck Terminal Co Ltd		196
	44,200	e	Seria Co Ltd		1,914
	41,000		Shimachu Co Ltd		1,001
	16,003		Shimamura Co Ltd		2,121
	6,694		Shinsegae Co Ltd		1,143
	2,147		Shinsegae International Co Ltd		137
	25,745		Shoe Carnival, Inc		633
	29,907		Shopper’s Stop Ltd		168
	164,958	*	Shutterfly, Inc		7,966
	1,005,868		Siam Global House PCL		486
	1,187,000	e	Sichuan Xinhua Winshare Chainstore Co Ltd		1,080

143

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	101,098		Signet Jewelers Ltd	$	7,003
	23,445	g	Sleep Country Canada Holdings, Inc		571
	93,191		Sonic Automotive, Inc (Class A)		1,868
	207,451	*	Sports Direct International plc		803
	51,912	*,e	Sportsman’s Warehouse Holdings, Inc		248
	9,512	*,g	SRP Groupe S.A.		234
	59,191	e	Stage Stores, Inc		153
	1,274,659		Staples, Inc		11,179
	430,416		Start Today Co Ltd		9,565
	61,895	e	Stein Mart, Inc		186
	25,951	*,e	Stockmann Oyj Abp (B Share)		200
	485,533		Super Cheap Auto Group Ltd		3,803
	279,518	*	Super Group Ltd		742
	59,294		SuperGroup plc		1,104
	40,000		Syuppin Co Ltd		584
	94,566	e	Tailored Brands, Inc		1,413
	220,819		Takashimaya Co Ltd		1,936
	62,375		Takkt AG.		1,447
	850,302		Target Corp		46,928
	51,200		Telepark Corp		882
	7,122,099		Test-Rite International Co		4,671
	330,414	e	Tiffany & Co		31,488
	67,176	e	Tile Shop Holdings, Inc		1,293
	188,323		Tilly’s, Inc		1,699
	1,565,785		TJX Companies, Inc		123,822
	113,734	e	Tokmanni Group Corp		1,262
	64,600	e	Tokyo Derica Co Ltd		736
	293,748		Tractor Supply Co		20,260
	639,513		Trade Me Ltd		2,298
	225,501	*	TripAdvisor, Inc		9,733
	680,587		Truworths International Ltd		4,394
	92,400	*	Tuesday Morning Corp		347
	164,573	*	Ulta Salon Cosmetics & Fragrance, Inc		46,941
	48,974	e	Uni-Select, Inc		1,303
	21,499	e	United Arrows Ltd		653
	1,188,696	*	Urban Outfitters, Inc		28,243
	154,586		USS Co Ltd		2,589
	8,782		Valora Holding AG.		3,036
	8,352,634		Via Varejo S.A.		27,668
	593,600	*	Vipshop Holdings Ltd (ADR)		7,919
	336,764		Vita Group Ltd		843
	47,300	*	Vitamin Shoppe, Inc		953
	120,100	e	VT Holdings Co Ltd		626
	69,630	*,e	Wayfair, Inc		2,819
	68,787		Webjet Ltd		603
	87,215	*	West Marine, Inc		832
	348,594		WH Smith plc		7,745
	123,778	e	Williams-Sonoma, Inc		6,637
	4,361		Winmark Corp		493
	1,416,743		Woolworths Holdings Ltd		7,390
	20,800		Xebio Co Ltd		323
	292,454	g	XXL ASA		3,186
	489,085	e	Yamada Denki Co Ltd		2,445

144

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	277,719	*,e	Yatra Online, Inc	$	2,638
	40,800		Yellow Hat Ltd		947
	92,729	*,e	Yoox S.p.A		2,204
	61,169	*,g	Zalando SE		2,472
	534,523		Zhongsheng Group Holdings Ltd		796
	5,634	*,e	zooplus AG.		827
	34,685	*,e	Zumiez, Inc		635
			TOTAL RETAILING		4,845,877
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.3%
	17,701	*,e	Acacia Communications, Inc		1,038
	226,615		A-DATA Technology Co Ltd		584
	164,415	*	Advanced Energy Industries, Inc		11,272
	6,199,508	*,e	Advanced Micro Devices, Inc		90,203
	66,489,890		Advanced Semiconductor Engineering, Inc		85,175
	1,619,778		Advanced Semiconductor Engineering, Inc (ADR)		10,496
	1,561,000		Advanced Wireless Semiconductor Co		3,138
	270,600	e	Advantest Corp		5,057
	83,727	*,e	Aixtron AG.		311
	171,942	*	Alpha & Omega Semiconductor Ltd		2,956
	63,102	*,e	Ambarella, Inc		3,452
	294,397	*	Amkor Technology, Inc		3,412
	207,772		ams AG.		11,224
	1,075,118		Analog Devices, Inc		88,106
	7,347,128		Applied Materials, Inc		285,803
	18,633	*,m	APS Holdings		464
	198,738		Ardentec Corp		162
	67,497		ASM International NV		3,785
	415,604	e	ASM Pacific Technology		5,653
	21,000		ASMedia Technology, Inc		222
	594,112		ASML Holding NV		78,834
	19,000		ASPEED Technology, Inc		357
	24,753	*	Atto Co Ltd		122
	57,811	*	Axcelis Technologies, Inc		1,087
	130,654		BE Semiconductor Industries NV		5,323
	1,695,276		Broadcom Ltd		371,198
	243,529		Brooks Automation, Inc		5,455
	87,388		Cabot Microelectronics Corp		6,695
	274,094	*	Cavium, Inc		19,642
	43,431	*	Ceva, Inc		1,542
	788,000	e	China Electronics Corp Holdings Co Ltd		162
	11,538	*,e,m	China Energy Savings Technology, Inc		0
	468,000		Chipbond Technology Corp		748
	212,000		ChipMOS Technologies, Inc		190
	244,628	*	Cirrus Logic, Inc		14,846
	55,862		Cohu, Inc		1,031
	171,042	*	Cree, Inc		4,572
	1,708,603	e	Cypress Semiconductor Corp		23,510
	94,223	e	Dainippon Screen Manufacturing Co Ltd		6,953
	94,397	*	Dialog Semiconductor plc		4,815
	74,477	*	Diodes, Inc		1,791
	56,072		Disco Corp		8,562

145

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,870	*	Dongbu HiTek Co Ltd	$	442
	76,834	*	DSP Group, Inc		922
	336,000		Elan Microelectronics Corp		429
	727,080		Elite Advanced Laser Corp		3,618
	223,000		Elite Semiconductor Memory Technology, Inc		251
	56,571		eMemory Technology, Inc		801
	435,932	*	Entegris, Inc		10,201
	6,986		Eo Technics Co Ltd		545
	805,000	*	Epistar Corp		848
	355,167	*	E-Ton Solar Tech Co Ltd		108
	11,495		Eugene Technology Co Ltd		168
	343,000		Everlight Electronics Co Ltd		549
	77,076	*	Exar Corp		1,003
	185,060		Faraday Technology Corp		229
	169,878	*,e	First Solar, Inc		4,604
	178,000		Forhouse Corp		83
	167,860	*	Formfactor, Inc		1,989
	311,000		Formosa Advanced Technologies Co Ltd		265
	14,011,308	e	GCL Poly Energy Holdings Ltd		1,858
	19,562	*	GemVax & Kael Co Ltd		235
	23,686		Giga Solar Materials Corp		240
	291,986	*	Gigastorage Corp		218
	112,807	*	GigOptix, Inc		347
	383,454	*	Gintech Energy Corp		224
	78,000		Global Unichip Corp		261
	109,000		Globalwafers Co Ltd		816
	192,000		Globetronics Technology BHD		224
	969,000		Greatek Electronics, Inc		1,328
	224,561	*	Green Energy Technology, Inc		129
	12,960	*,e	G-SMATT GLOBAL Co Ltd		155
	1,152,700		Hana Microelectronics PCL (Foreign)		1,577
	58,405		Hanmi Semiconductor Co Ltd		880
	12,342	*	Hansol LCD, Inc		187
	48,000		Holtek Semiconductor, Inc		85
	844,000	g	Hua Hong Semiconductor Ltd		1,185
	588,004		Hynix Semiconductor, Inc		26,558
	11,052	*	Ichor Holdings Ltd		219
	1,423,304	*	Imagination Technologies Group plc		4,784
	11,913	*,e	Impinj, Inc		361
	1,470,985		Infineon Technologies AG.		30,107
	499,789	*,e	Inphi Corp		24,400
	450,597	*	Integrated Device Technology, Inc		10,666
	10,113,440		Intel Corp		364,792
	91,623		IXYS Corp		1,333
	35,000	*	JA Solar Holdings Co Ltd (ADR)		229
	47,500		Japan Material Co Ltd		790
	18,500	*,e	JinkoSolar Holding Co Ltd (ADR)		307
	30,193	*	Jusung Engineering Co Ltd		262
	86,888		KC Tech Co Ltd		1,069
	842,000		King Yuan Electronics Co Ltd		777
	227,000		Kinsus Interconnect Technology Corp		600
	729,815		Kla-Tencor Corp		69,384
	8,982		Koh Young Technology, Inc		412

146

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	166,321	*	Kopin Corp	$	682
	11,076		L&F Co Ltd		153
	1,234,677		Lam Research Corp		158,483
	41,800		Land Mark Optoelectronics Corp		407
	9,275,000	*	Landing International Development		64
	33,600	*,e	Lasertec Corp		453
	237,346	*	Lattice Semiconductor Corp		1,642
	8,169		LEENO Industrial Inc		306
	288,726		Lextar Electronics Corp		167
	19,048		Lite-On Semiconductor Corp		18
	65,933	*	MA-COM Technology Solutions		3,185
	226,800		Malaysian Pacific Industries BHD		589
	7,694	*,e	Manz Automation AG.		322
	1,615,889		Marvell Technology Group Ltd		24,658
	565,314		Maxim Integrated Products, Inc		25,417
	236,311	*	MaxLinear, Inc		6,629
	1,527,894		MediaTek, Inc		10,826
	12,600	e	Megachips Corp		345
	47,101		Melexis NV		4,078
	176,663	*,e	Mellanox Technologies Ltd		9,001
	427,332	*,e	Meyer Burger Technology AG.		361
	633,099	e	Microchip Technology, Inc		46,710
	4,497,102	*	Micron Technology, Inc		129,966
	25,200	e	Micronics Japan Co Ltd		224
	450,704	*	Microsemi Corp		23,225
	46,500		Mimasu Semiconductor Industry Co Ltd		738
	54,300		Mitsui High-Tec, Inc		549
	115,575		MKS Instruments, Inc		7,946
	157,454		Monolithic Power Systems, Inc		14,502
	313,000	*	Motech Industries, Inc		289
	131,512	*	Nanometrics, Inc		4,006
	739,000		Nanya Technology Corp		1,179
	686,324	*	Neo Solar Power Corp		345
	60,313	*,e	NeoPhotonics Corp Ltd		543
	95,522	*,e	Nordic Semiconductor ASA		349
	616,752		Novatek Microelectronics Corp Ltd		2,389
	3,400	e	Nuflare Technology, Inc		207
	9,037		NVE Corp		748
	2,001,268	n	NVIDIA Corp		217,998
	441,866	*	NXP Semiconductors NV		45,733
	1,349,676	*	ON Semiconductor Corp		20,906
	28,000		On-Bright Electronics, Inc		189
	268,000	*	Orient Semiconductor Electronics Ltd		92
	149,127		Orise Technology Co Ltd		199
	52,401		Parade Technologies Ltd		609
	52,450	*	PDF Solutions, Inc		1,186
	1,349,895		Phison Electronics Corp		12,119
	173,659	*	Photronics, Inc		1,858
	75,613		Pixart Imaging, Inc		191
	111,126		Power Integrations, Inc		7,307
	2,980,397		Powertech Technology, Inc		8,673

147

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	291,281	*	Qorvo, Inc	$	19,970
	2,790,135	e	Qualcomm, Inc		159,986
	1,805,000		Radiant Opto-Electronics Corp		3,796
	251,346	*	Rambus, Inc		3,303
	947,333		Realtek Semiconductor Corp		3,387
	1,622,247	*,e	REC Silicon ASA		194
	460,791		Rohm Co Ltd		30,677
	57,662	*	Rudolph Technologies, Inc		1,292
	162,263		Samsung Electronics Co Ltd		298,631
	28,427		Samsung Electronics Co Ltd (Preference)		40,719
	88,000		Sanken Electric Co Ltd		386
	2,996,047	*,e	Semiconductor Manufacturing International Corp		3,714
	348,357	*	Semtech Corp		11,774
	30,860		Seoul Semiconductor Co Ltd		480
	198,000	*,e	Shanghai Fudan Microelectronics Group Co Ltd		139
	259,000	e	Shindengen Electric Manufacturing Co Ltd		1,087
	280,000	*,e	Shinkawa Ltd		2,101
	489,600		Shinko Electric Industries		3,286
	29,000		ShunSin Technology Holding Ltd		98
	64,427	*	Sigma Designs, Inc		403
	127,000		Sigurd Microelectronics Corp		116
	43,934		Silergy Corp		811
	188,514	*	Silicon Laboratories, Inc		13,865
	321,191		Silicon Motion Technology Corp (ADR)		15,016
	48,862		Silicon Works Co Ltd		1,339
	2,099,807		Siliconware Precision Industries Co		3,426
	77,434	*	Siltronic AG.		5,162
	437,000		Sino-American Silicon Products, Inc		700
	571,000		Sitronix Technology Corp		1,855
	631,102		Skyworks Solutions, Inc		61,835
	65,967	e	SMA Solar Technology AG.		1,667
	11,800	*,e	SOITEC		500
	1,102,639		STMicroelectronics NV		16,967
	56,651	*	STS Semiconductor & Telecommunications		116
	611,900		Sumco Corp		10,221
	151,334	*,e	SunPower Corp		923
	5,309,600		SVI PCL (Foreign)		850
	638,000		Taiwan Semiconductor Co Ltd		748
	47,533,896		Taiwan Semiconductor Manufacturing Co Ltd		298,068
	786,288		Taiwan Surface Mounting Technology Co Ltd		718
	583,635		Teradyne, Inc		18,151
	11,330		TES Co Ltd		234
	2,264,840		Texas Instruments, Inc		182,456
	4,084		Tokai Carbon Korea Co Ltd		118
	146,140		Tokyo Electron Ltd		15,999
	43,600		Tokyo Seimitsu Co Ltd		1,377
	642,511		Topco Scientific Co Ltd		2,096
	13,578		Toptec Co Ltd		306
	219,426	*	Tower Semiconductor Ltd		5,069
	1,746,000	*,m	Trony Solar Holdings Co Ltd.		2
	5,028		U-Blox AG.		1,107
	12,000		UKC Holdings Corp		221
	102,413	*	Ultra Clean Holdings		1,728

148

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	42,065	*	Ultratech, Inc	$	1,246
	101,900		Ulvac, Inc		4,763
	1,530,700		Unisem M BHD		1,086
	10,858,871		United Microelectronics Corp		4,356
	833,228		Vanguard International Semiconductor Corp		1,587
	78,962	*	Veeco Instruments, Inc		2,357
	228,131	*	Versum Materials, Inc		6,981
	158,068		Visual Photonics Epitaxy Co Ltd		297
	287,503		Win Semiconductors Corp		1,279
	2,028,000		Winbond Electronics Corp		1,136
	18,640	*	WONIK IPS Co Ltd		415
	126,993	*,e	Xcerra Corp		1,129
	1,078,208		Xilinx, Inc		62,417
	129,000		XinTec, Inc		191
	8,572,000	e	Xinyi Solar Holdings Ltd		2,738
	198,600		Xperi Corp		6,742
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		3,890,673
SOFTWARE & SERVICES - 10.0%
	81,700	*,e	21Vianet Group, Inc (ADR)		449
	72,384	*,e	2U, Inc		2,871
	117,600	*,e	58.COM, Inc (ADR)		4,162
	230,567	*	8x8, Inc		3,516
	589,283	*	A10 Networks, Inc		5,392
	2,028,939		Accenture plc		243,229
	228,787	*	ACI Worldwide, Inc		4,894
	131,433	*,e	Aconex Ltd		394
	1,967,104		Activision Blizzard, Inc		98,080
	98,580	*	Actua Corp		1,385
	208,492	*	Acxiom Corp		5,936
	513		Addcn Technology Co Ltd		4
	1,618,646	*	Adobe Systems, Inc		210,634
	2,120,000	*,e	AGTech Holdings Ltd		412
	4,896	e	Ahnlab, Inc		645
	335,176	*	Akamai Technologies, Inc		20,010
	20,351	*,e	Alarm.com Holdings, Inc		626
	2,388,462	*,e	Alibaba Group Holding Ltd (ADR)		257,548
	41,741	*,e	ALJ Regional Holdings, Inc		155
	146,640		Alliance Data Systems Corp		36,513
	249,787		Alpha Systems, Inc		4,402
	893,200	*	Alphabet, Inc (Class A)		757,255
	1,074,645	*	Alphabet, Inc (Class C)		891,482
	56,109		Alten		4,303
	112,154	e	Altium Ltd		651
	322,246		Altran Technologies S.A.		5,419
	800,279		Amadeus IT Holding S.A.		40,549
	115,211	*	Amber Road, Inc		889
	986,563		Amdocs Ltd		60,170
	58,076	*	American Software, Inc (Class A)		597
	71,898	*	Angie’s List, Inc		410
	136,641	*	Ansys, Inc		14,603
	18,707	*	Appfolio, Inc		509

149

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	344,096	*	Aspen Technology, Inc	$	20,274
	63,631		Asseco Poland S.A.		871
	7,900	e	Ateam, Inc		190
	27,759	*	Atlassian Corp plc		831
	259,895		Atos Origin S.A.		32,118
	1,894,676	g	Auto Trader Group plc		9,299
	64,303	*	Autobytel, Inc		806
	402,185	*	Autodesk, Inc		34,777
	1,122,157		Automatic Data Processing, Inc		114,898
	49,581		Aveva Group plc		1,211
	5,759		Axway Software S.A.		194
	569,713	*	Baidu, Inc (ADR)		98,287
	119,307	*	Bankrate, Inc		1,151
	16,800	*	Baozun, Inc (ADR)		251
	180,724	*	Barracuda Networks, Inc		4,177
	409,130	*	Bazaarvoice, Inc		1,759
	20,375		Bechtle AG.		2,211
	23,816	*,e	Benefitfocus, Inc		666
	23,000	*,e	Bitauto Holdings Ltd (ADR)		589
	41,451	*,e	Black Knight Financial Services, Inc		1,588
	93,028		Blackbaud, Inc		7,132
	107,691	*	Blackhawk Network Holdings, Inc		4,372
	28,741	*,e	Blackline, Inc		855
	78,268	*	Blucora, Inc		1,354
	754,781		Booz Allen Hamilton Holding Co		26,712
	88,152	*	Bottomline Technologies, Inc		2,085
	240,607	*	Box, Inc		3,924
	999,000	*,e	Boyaa Interactive International Ltd		540
	154,229	*	Brightcove, Inc		1,373
	34,800		Broadleaf Co Ltd		239
	256,727		Broadridge Financial Solutions, Inc		17,445
	57,941	*	BroadSoft, Inc		2,329
	25,900		Brogent Technologies, Inc		181
	1,495,771		CA, Inc		47,446
	70,000		CAC Holdings Corp		676
	48,069	*	CACI International, Inc (Class A)		5,638
	458,418	*	Cadence Design Systems, Inc		14,394
	149,387	*	Callidus Software, Inc		3,189
	12,721	e	Cancom SE		719
	309,139		Cap Gemini S.A.		28,535
	534,186	e	Capcom Co Ltd		10,475
	43,382	*	Carbonite, Inc		881
	142,160	*	Cardtronics plc		6,646
	120,796	*	Care.com, Inc		1,511
	285,723		carsales.com Ltd		2,437
	20,939		Cass Information Systems, Inc		1,384
	42,908	*,e	Catena Media plc		503
	92,621	*	CD Projekt Red S.A.		1,732
	291,046		CDK Global, Inc		18,921
	171,469	*	CGI Group, Inc		8,216
	9,900	*,e	Changyou.com Ltd (ADR)		278
	52,000	*	Chanjet Information Technology Co Ltd		67
	133,811	*	ChannelAdvisor Corp		1,492

150

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	241,491	*	Check Point Software Technologies	$	24,791
	23,900	*,e	Cheetah Mobile, Inc (ADR)		257
	548,000	*,e	China City Railway Transportation Technology Holdings Co Ltd		91
	1,550,000	*,e	Chinasoft International Ltd		892
	1,351,332		Cielo S.A.		12,220
	166,543	*,e	Cimpress NV		14,354
	504,273	*	Citrix Systems, Inc		42,051
	1,230,886	*	Cognizant Technology Solutions Corp (Class A)		73,262
	39,200	e	COLOPL, Inc		364
	7,824		Com2uSCorp		847
	153,683	*	CommerceHub, Inc		2,387
	46,662	*	CommerceHub, Inc (Series A)		722
	229,572	*	Commvault Systems, Inc		11,662
	145,846		Computer Modelling Group Ltd		1,135
	945,143	n	Computer Sciences Corp		65,224
	599,653		Computershare Ltd		6,440
	486,976	*	Conduent, Inc		8,171
	44,057		Constellation Software, Inc		21,650
	329,516		Convergys Corp		6,969
	37,500	e	COOKPAD, Inc		318
	189,309	*	Cornerstone OnDemand, Inc		7,362
	78,501	*	CoStar Group, Inc		16,267
	14,906	*,e	Coupa Software, Inc		379
	59,700	*,e	CROOZ, Inc		1,832
	63,058		CSG Systems International, Inc		2,384
	552,829		CSRA, Inc		16,192
	230,508	*	CyberArk Software Ltd		11,726
	102,069		Cyient Ltd		735
	45,861		Daou Technology, Inc		833
	105,507		Dassault Systemes S.A.		9,125
	501,400		Datasonic Group BHD		143
	1,255,274	*	Dell Technologies, Inc-VMware Inc		80,438
	216,700	e	Dena Co Ltd		4,412
	386,575	*	Descartes Systems Group, Inc		8,857
	10,212		Devoteam S.A.		695
	3,709	*	Devsisters Co Ltd		46
	82,846		DH Corp		1,572
	303,192	*	DHI Group, Inc		1,198
	19,545	*,e	Digimarc Corp		528
	27,500		Digital Garage, Inc		570
	58,300		Dip Corp		1,274
	6,982		DoubleUGames Co Ltd		247
	96,450		DST Systems, Inc		11,815
	65,500		DTS Corp		1,642
	15,919		DuzonBIzon Co Ltd		352
	2,872,212	*	eBay, Inc		96,420
	49,505	e	Ebix, Inc		3,032
	28,844		eClerx Services Ltd		627
	48,036		Econocom Group		710
	912,055	*	Electronic Arts, Inc		81,647
	64,876	*	Ellie Mae, Inc		6,505

151

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	185,228		Ementor ASA	$	2,182
	117,653	*	Endurance International Group Holdings, Inc		924
	56,910	*	EnerNOC, Inc		341
	14,278		Enghouse Systems Ltd		618
	80,451	*	Envestnet, Inc		2,599
	125,193		EOH Holdings Ltd		1,294
	183,469	*	EPAM Systems, Inc		13,856
	393,464	g	Equiniti Group plc		966
	104,327	*	Euronet Worldwide, Inc		8,922
	21,204	*,e	Everbridge, Inc		435
	508,092		EVERTEC, Inc		8,079
	34,272	*	EXA Corp		435
	167,830	*	ExlService Holdings, Inc		7,948
	33,700		F@N Communications, Inc		252
	7,603,336	*	Facebook, Inc		1,080,054
	101,550		Fair Isaac Corp		13,095
	205,100	*,e	Fang Holdings Ltd (ADR)		669
	408,000	g	Feiyu Technology International Co Ltd		63
	2,600	*,e	FFRI, Inc		115
	795,586		Fidelity National Information Services, Inc		63,345
	202,132	*,e	FireEye, Inc		2,549
	301,198	*	First American Corp		12,265
	872,179	*	First Data Corp		13,519
	524,209	*	Fiserv, Inc		60,447
	213,884	*	Five9, Inc		3,521
	339,660	*	FleetCor Technologies, Inc		51,435
	21,139		Formula Systems 1985 Ltd		841
	18,698		Forrester Research, Inc		743
	210,575	*	Fortinet, Inc		8,076
	65,603		F-Secure Oyj		236
	22,600		FUJI SOFT, Inc		579
	139,800		Fujitsu Broad Solution & Consulting, Inc		1,394
	7,446,592		Fujitsu Ltd		45,710
	6,000	e	Fukui Computer Holdings, Inc		140
	17,200		Future Architect, Inc		136
	11,862	*	GameHi Co Ltd		87
	4,071	*	Gamevil, Inc		200
	187,427	*	Gartner, Inc		20,240
	603,508		Genpact Ltd		14,943
	12,424	e	GFT Technologies AG.		236
	184,731	*	Gigamon, Inc		6,567
	47,206	*	Global Dominion Access S.A.		181
	398,444		Global Payments, Inc		32,146
	15,791	*	Global Sources Ltd		130
	50,266	*,e	Globant S.A.		1,830
	188,421	*,e	Glu Mobile, Inc		428
	84,200		GMO internet, Inc		998
	26,000	e	GMO Payment Gateway, Inc		1,295
	232,609	*	Gocompare.Com Group plc		262
	131,172	*,e	GoDaddy, Inc		4,971
	110,962	*,e	Gogo, Inc		1,221
	7,649		Golfzon co Ltd		352
	20,800		Gourmet Navigator, Inc		437

152

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	81,250	*,e	Gravity Co Ltd (ADR)	$	1,706
	257,700		Gree, Inc		1,628
	687,321	*,e	GrubHub, Inc		22,606
	14,280	*	G-treeBNT Co Ltd		200
	52,029	*	GTT Communications, Inc		1,267
	57,572	*	Guidance Software, Inc		340
	213,306	*	Guidewire Software, Inc		12,016
	1,341,400		GungHo Online Entertainment Inc		2,995
	13,225		Haansoft, Inc		195
	262,775		Hackett Group, Inc		5,121
	282,219		Hansen Technologies Ltd		739
	458,000	*,e	HC International, Inc		408
	848,671		HCL Technologies Ltd		11,432
	10,500	e	Hearts United Group Co Ltd		144
	75,232		Hexaware Technologies Ltd		249
	1,515,000	*,e	Hi Sun Technology China Ltd		267
	84,739	*,e	Hortonworks, Inc		831
	58,344	*	HubSpot, Inc		3,533
	791,130	*	IAC/InterActiveCorp		58,322
	671,000		IGG, Inc		931
	118,933	*	Imperva, Inc		4,882
	82,635	*	Indra Sistemas S.A.		1,053
	528,200		Ines Corp		5,113
	100,541		Info Edge India Ltd		1,241
	17,700		Infocom Corp		306
	1,460,700	e	Infomart Corp		8,377
	72,652	*	Information Services Group, Inc		229
	54,500		Information Services International-Dentsu Ltd		1,234
	2,833,126		Infosys Technologies Ltd		44,665
	45,351	*,e	Instructure, Inc		1,061
	1,464,510		International Business Machines Corp		255,030
	44,000		International Games System Co Ltd		278
	23,700		Internet Initiative Japan, Inc		429
	109,076	*	InterXion Holding NV		4,315
	1,056,277		Intuit, Inc		122,518
	98,053		iomart Group plc		364
	151,064		Iress Market Technology Ltd		1,352
	723,023	e	iSentia Group Ltd		829
	24,300	e	Istyle, Inc		201
	141,260		IT Holdings Corp		3,610
	206,600		Itochu Techno-Science Corp		6,097
	92,459	e	j2 Global, Inc		7,758
	99,937		Jack Henry & Associates, Inc		9,304
	4,935	*	JCEntertainment Corp		89
	1,700	*,e	JIG-SAW, Inc		102
	107,154	*	Jive Software, Inc		461
	28,158		Just Dial Ltd		229
	367,461	*	Just Eat plc		2,603
	29,000		Justsystems Corp		359
	46,102		Kainos Group plc		132
	133,820	e	Kakaku.com, Inc		1,827
	30,636	e	Kakao Corp		2,277

153

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	31,200		Kanematsu Electronics Ltd	$	796
	8,489		KCP Co Ltd		103
	73,663		Kginicis Co Ltd		754
	293,230	*	Kinaxis, Inc		16,354
	1,590,000	*,e	Kingdee International Software Group Co Ltd		657
	977,061	e	Kingsoft Corp Ltd		2,693
	100,000	*,e	KLab, Inc		665
	210,868	e	Konami Corp		8,957
	22,800	*,e	KongZhong Corp (ADR)		169
	11,919	*	Korea Information & Communications Co Ltd		111
	342,533		KPIT Cummins Infosystems Ltd		684
	10,507	*	KT Hitel Co Ltd		68
	567,516		Leidos Holdings, Inc		29,023
	374,696	*	Limelight Networks, Inc		967
	37,700	*,e	LINE Corp		1,453
	580,840		Link Administration Holdings Ltd		3,430
	82,967		Linx S.A.		440
	104,920	*	Liquidity Services, Inc		839
	243,024	*	Liveperson, Inc		1,665
	260,556		LogMeIn, Inc		25,404
	10,717	*	Majesco		55
	302,569	*	Manhattan Associates, Inc		15,749
	48,358		Mantech International Corp (Class A)		1,675
	78,933		Marchex, Inc (Class B)		215
	347,400	e	Marvelous AQL, Inc		2,728
	2,261,071		MasterCard, Inc (Class A)		254,303
	53,747	*,e	Match Group, Inc		878
	88,421		Matrix IT Ltd		833
	140,391		MAXIMUS, Inc		8,732
	83,124	*	MeetMe, Inc		490
	461,940		Micro Focus International plc		13,177
	23,891,479	n	Microsoft Corp		1,573,493
	157,688	*	MicroStrategy, Inc (Class A)		29,614
	28,912	*,e	MINDBODY, Inc		794
	164,124		MindTree Ltd		1,145
	42,800		Miroku Jyoho Service Co Ltd		709
	99,679	*,e	Mitek Systems, Inc		663
	4,600		Mitsubishi Research Institute, Inc		133
	96,160		Mixi Inc		4,651
	112,623	*	MobileIron, Inc		490
	283,608	*	Mobileye NV		17,414
	42,657	*	Model N, Inc		446
	65,188	*	MoneyGram International, Inc		1,096
	1,343,289		Moneysupermarket.com Group plc		5,558
	146,354		Monotype Imaging Holdings, Inc		2,942
	3,200	*,e	Morpho, Inc		134
	130,806		Mphasis Ltd		1,168
	101,000		MTI Ltd		614
	1,688,450		My EG Services BHD		706
	852,343		MYOB Ltd		2,319
	69,570	*,e	Myriad Group AG.		114
	852,000	*,e,m	National Agricultural Holdings Ltd		66
	27,954		Naver Corp		21,375

154

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,397		NCI, Inc (Class A)	$	202
	18,154		NCsoft		4,951
	17,900		NEC Networks & System Integration Corp		347
	44,672		Nemetschek AG.		2,680
	11,686	*	Neowiz Games Corp		123
	253,200	e	NET One Systems Co Ltd		2,055
	142,000	e	NetDragon Websoft, Inc		433
	180,600		Netease.com (ADR)		51,290
	136,230		NetEnt AB		1,093
	105,798	*	NeuStar, Inc (Class A)		3,507
	189,277	*,e	New Relic, Inc		7,017
	218,864		Nexon Co Ltd		3,480
	220,416	*,e	NEXTDC Ltd		687
	11,133	*	NHN Entertainment Corp		597
	255,847		NIC, Inc		5,168
	4,722		Nice Information & Telecommunication, Inc		106
	86,529		Nice Systems Ltd		5,874
	247,500		Nihon Unisys Ltd		3,387
	52,941		NIIT Technologies Ltd		355
	307,781		Nintendo Co Ltd		71,417
	28,200		Nippon System Development Co Ltd		408
	146,200		Nomura Research Institute Ltd		5,390
	68,200	*,e	NQ Mobile, Inc (ADR)		284
	68,300		NS Solutions Corp		1,481
	145,427		NTT Data Corp		6,906
	1,128,053	*	Nuance Communications, Inc		19,527
	31,352	*,e	Numerex Corp		150
	136,721	*,e	Nutanix, Inc		2,566
	7,800		OBIC Business Consultants Ltd		392
	52,600		Obic Co Ltd		2,513
	695,573		Open Text Corp		23,642
	94,664	e	Opera Software ASA		444
	952,606	*	Optimal Payments plc		5,585
	11,978,721		Oracle Corp		534,371
	49,049		Oracle Corp Japan		2,812
	43,795		Otsuka Corp		2,380
	253,000	e	Ourgame International Holdings Ltd		96
	356,700		Pacific Online		87
	467,005	*,e	Pandora Media, Inc		5,515
	26,942	*,e	Park City Group, Inc		333
	631,518		Paychex, Inc		37,196
	86,271	*,e	Paycom Software, Inc		4,961
	41,780	*,e	Paylocity Holding Corp		1,614
	6,028,465	*	PayPal Holdings, Inc		259,345
	72,938		PC Home Online		594
	263,000	e	PCA Corp		3,621
	160,693		Pegasystems, Inc		7,046
	96,141	*	Perficient, Inc		1,669
	57,575		Persistent Systems Ltd		528
	61,493	*	PFSweb, Inc		402
	28,400	*	Phoenix New Media Ltd (ADR)		99
	96,921	*	Planet Payment, Inc		386

155

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	280,678		Playtech Ltd	$	3,275
	44,636		POSDATA Co Ltd		283
	331,570		Progress Software Corp		9,632
	205,314	*,e	Proofpoint, Inc		15,267
	47,756	*	PROS Holdings, Inc		1,155
	476,440	*	PTC, Inc		25,037
	50,134	*	Q2 Holdings, Inc		1,747
	24,800		QAD, Inc (Class A)		691
	136,876	*	Qualys, Inc		5,188
	87,556	*	QuinStreet, Inc		341
	147,684	*	Quotient Technology, Inc		1,410
	37,049	*,e	Rapid7, Inc		555
	51,999	*	RealNetworks, Inc		252
	230,685	*	RealPage, Inc		8,051
	274,827	*	Red Hat, Inc		23,773
	126,038	e	Redcentric plc		138
	31,104		Reis, Inc		557
	13,780	*,e	Renren, Inc (ADR)		107
	2,600,000	*,e	Rentian Technology Holdings Ltd		154
	3,257		Reply S.p.A.		515
	148,574	*	RetailMeNot, Inc		1,203
	28,008	e	RIB Software AG.		370
	206,527		Rightmove plc		10,319
	22,953	*	Rightside Group Ltd		228
	346,723	*	RingCentral, Inc		9,812
	40,990	*	Rosetta Stone, Inc		400
	380,421	*	Rubicon Project, Inc		2,241
	437,928		Sabre Corp		9,280
	42,040	e	SafeCharge International Group Ltd		136
	1,855,956		Sage Group plc		14,661
	38,021		Saipens International Corp NV		498
	4,070,328	*	salesforce.com, Inc		335,761
	35,974		Samsung SDS Co Ltd		4,295
	1,004,560		SAP AG.		98,555
	51,649		Sapiens International Corp NV		665
	140,685		Science Applications International Corp		10,467
	454,373	*,g	Scout24 AG.		15,170
	11,289	*,e	SecureWorks Corp		107
	1,502,544	*	ServiceNow, Inc		131,428
	123,020	*	ServiceSource International LLC		477
	184,960		Shanghai Baosight Software Co Ltd		280
	85,718	*	Shopify, Inc		5,847
	79,419	*	Shutterstock, Inc		3,284
	72,709	*	Silver Spring Networks, Inc		821
	1,791,300		Silverlake Axis Ltd		730
	59,707		SimCorp AS		3,596
	112,365	*	Sina Corp		8,104
	6,440,000	*	Sino-I Technology Ltd		86
	472,600	e	Sinosoft Technology Group Ltd		164
	25,300	e	SMS Co Ltd		643
	193,950		Softcat plc		957
	39,797		Software AG.		1,572
	53,540		Soft-World International Corp		115

156

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	45,143	*	Sohu.com, Inc	$	1,775
	639,380		Sonda S.A.		1,103
	211,856	g	Sophos Group plc		721
	11,113		Sopra Group S.A.		1,583
	192,340	*,e	Splunk, Inc		11,981
	32,350	*	SPS Commerce, Inc		1,892
	315,627		Square Enix Co Ltd		8,960
	306,140	*	Square, Inc		5,290
	383,315		SS&C Technologies Holdings, Inc		13,569
	8,816	*	Ssangyong Information & Communication		18
	37,788	*,e	Stamps.com, Inc		4,472
	154,190	*,e	Starbreeze AB		263
	120,842		Sumisho Computer Systems Corp		4,799
	3,862	*	SundayToz Corp		80
	508,000		SUNeVision Holdings Ltd		267
	115,505	*	Sykes Enterprises, Inc		3,396
	6,429,816		Symantec Corp		197,267
	81,425	*	Synchronoss Technologies, Inc		1,987
	776,867	*	Synopsys, Inc		56,035
	123,046		Syntel, Inc		2,071
	12,400		Systena Corp		191
	536,000		Systex Corp		1,138
	59,920	*,e	Tableau Software, Inc		2,969
	610,594	*	Take-Two Interactive Software, Inc		36,190
	736,000		Tata Consultancy Services Ltd		27,562
	6,298		Tata Elxsi Ltd		142
	603,265		Tech Mahindra Ltd		4,266
	291,257		Technology One Ltd		1,142
	47,540	*	TechTarget, Inc		429
	29,300		Tecmo Koei Holdings Co Ltd		557
	92,008	*	TeleNav, Inc		796
	49,761		TeleTech Holdings, Inc		1,473
	93,828		Temenos Group AG.		7,452
	10,878,804		Tencent Holdings Ltd		313,413
	489,099	*	Teradata Corp		15,221
	322,000	e,g	Tian GE Interactive Holdings Ltd		254
	43,017	e	Tietoenator Oyj		1,172
	233,664		TiVo Corp		4,381
	13,000		TKC		372
	537,079		Total System Services, Inc		28,712
	93,800		Totvus S.A.		831
	15,850	*	Trade Desk, Inc		590
	24,700	*	Trans Cosmos, Inc/Japan		581
	888,832		Travelport Worldwide Ltd		10,462
	1,122,000		Travelsky Technology Ltd		2,651
	365,503		Trend Micro, Inc		16,269
	107,936	*,e	TrueCar, Inc		1,670
	40,807	*,e	Twilio, Inc		1,178
	1,222,750	*,e	Twitter, Inc		18,280
	71,698	*	Tyler Technologies, Inc		11,082
	70,385	*	Ubisoft Entertainment		3,002
	86,802	*,e	Ultimate Software Group, Inc		16,945

157

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	247,941	*,e	Unisys Corp	$	3,459
	30,686		United Internet AG.		1,357
	9,700		UNITED, Inc		191
	608,944		Vakrangee Ltd		3,085
	318,622	*	Vantiv, Inc		20,430
	54,632	*	Varonis Systems, Inc		1,737
	55,957	*	Vasco Data Security International		755
	150,762	*	Verint Systems, Inc		6,539
	418,933	*,e	VeriSign, Inc		36,493
	99,106	*,e	VirnetX Holding Corp		228
	53,613	*	Virtusa Corp		1,620
	7,552,942		Visa, Inc (Class A)		671,230
	838,611	*,e	VMware, Inc (Class A)		77,270
	73,696	*	WebMD Health Corp (Class A)		3,882
	83,635	*	Website Pros, Inc		1,614
	12,979	*	Webzen, Inc		250
	39,000	*,e	Weibo Corp (ADR)		2,035
	7,485		WeMade Entertainment Co Ltd		195
	1,043,005		Western Union Co		21,225
	95,711	*	WEX, Inc		9,906
	964,568		Wipro Ltd		7,645
	180,545	e	Wirecard AG.		9,986
	65,826		Wisetech Global Ltd		283
	67,897	*	Wix.com Ltd		4,610
	117,959	*	Workday, Inc		9,824
	68,140	*	Workiva, Inc		1,066
	30,694	*,g	Worldline S.A.		956
	1,691,538	g	Worldpay Group plc		6,254
	41,804	*	Xactly Corp		497
	80,904	*	Xero Ltd		1,122
	5,887		XING AG.		1,217
	133,830	*	XO Group, Inc		2,303
	22,700	*,e	Xunlei Ltd (ADR)		92
	5,459,000		Xurpas, Inc		1,092
	1,338,238	e	Yahoo! Japan Corp		6,205
	1,892,641	*	Yahoo!, Inc		87,837
	324,613	*	Yelp, Inc		10,631
	33,000	*	YY, Inc (ADR)		1,522
	162,169	*	Zendesk, Inc		4,547
	9,632		Zensar Technologies Ltd		137
	101,216	*,e	Zillow Group, Inc		3,422
	204,493	*,e	Zillow Group, Inc (Class C)		6,885
	284,640	*	Zix Corp		1,369
	675,585	g	Zoopla Property Group plc		3,073
	1,868,814	*	Zynga, Inc		5,326
			TOTAL SOFTWARE & SERVICES		11,816,384
TECHNOLOGY HARDWARE & EQUIPMENT - 4.8%
	326,374	*,e	3D Systems Corp		4,883
	837,422	e	AAC Technologies Holdings, Inc		9,805
	134,882	*	accesso Technology Group plc		2,780
	2,552,292		Accton Technology Corp		5,627
	2,634,762		Acer, Inc		1,250

158

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	101,492		Adlink Technology, Inc	$	227
	95,354		Adtran, Inc		1,979
	37,776	*,e	ADVA AG. Optical Networking		425
	35,000		Advanced Ceramic X Corp		344
	332,583		Advantech Co Ltd		2,784
	44,531	*,e	Aerohive Networks, Inc		187
	36,889	*	Agilysys, Inc		349
	28,500	e	Ai Holdings Corp		679
	104,400		Alpha Networks, Inc		81
	144,500		Alps Electric Co Ltd		4,097
	115,200	e	Amano Corp		2,304
	478,282		Amphenol Corp (Class A)		34,039
	901,765	*	Anixter International, Inc		71,510
	107,400		Anritsu Corp		814
	2,796,000	*,e,m	Anxin-China Holdings Ltd		4
	17,337,943	n	Apple, Inc		2,490,769
	61,859	*,e	Applied Optoelectronics, Inc		3,473
	107,000		Arcadyan Technology Corp		213
	99,089	*	Arista Networks, Inc		13,107
	685,402	*	ARRIS International plc		18,129
	203,116	*	Arrow Electronics, Inc		14,911
	26,920		Ascom Holding AG.		476
	178,000	*	Asia Optical Co, Inc		304
	2,164,464		Asia Vital Components Co Ltd		1,866
	1,812,044		Asustek Computer, Inc		17,916
	188,000		Aten International Co Ltd		530
	9,287,893		AU Optronics Corp		3,618
	252,000		Aurora Corp		497
	39,351	e	Austria Technologie & Systemtechnik AG.		431
	64,580	*,e	Avid Technology, Inc		301
	28,918	*,e	Avigilon Corp		336
	240,266		Avnet, Inc		10,995
	100,892		AVX Corp		1,653
	54,156		Badger Meter, Inc		1,990
	20,517		Barco NV		2,055
	23,425		Bel Fuse, Inc (Class B)		599
	94,011		Belden CDT, Inc		6,505
	175,314	*	Benchmark Electronics, Inc		5,575
	8,448,000		Benq Corp		4,900
	48,384		Black Box Corp		433
	435,191	*,e	Blackberry Ltd (New)		3,371
	105,000		Boardtek Electronics Corp		104
	997,862		Brocade Communications Systems, Inc		12,453
	477,959		Brother Industries Ltd		9,995
	3,392,000		BYD Electronic International Co Ltd		4,713
	69,057	*	CalAmp Corp		1,159
	7,061,915		CalComp Electronics Thailand PCL		625
	84,080	*	Calix, Inc		610
	74,000		Canon Electronics, Inc		1,201
	995,382		Canon, Inc		31,084
	1,106,000		Casetek Holdings Ltd		3,680
	44,371	*,e	Catapult Group International Ltd		76

159

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,005,857		Catcher Technology Co Ltd	$	9,941
	226,000		Catic Shenzhen Holdings Ltd		113
	435,142		CDW Corp		25,112
	343,323	*	Celestica, Inc		4,993
	51,000		Chaun-Choung Technology Corp		236
	338,602		Cheng Uei Precision Industry Co Ltd		439
	741,162		Chicony Electronics Co Ltd		1,890
	280,663		Chimei Materials Technology Corp		122
	5,552,000		China Aerospace International Holdings Ltd		736
	1,388,000	*,e	China All Access Holdings Ltd		411
	489,600	*,m	China Fiber Optic Network System Group Ltd		22
	2,948,000	*,e	China Innovationpay Group Ltd		216
	1,075,000		Chin-Poon Industrial Co		2,186
	269,840		Chroma ATE, Inc		817
	10,000		Chunghwa Precision Test Tech Co Ltd		448
	4,940,315	*	Ciena Corp		116,641
	15,339,950		Cisco Systems, Inc		518,490
	403,854		Citizen Watch Co Ltd		2,590
	26,938	*,e	Clearfield, Inc		443
	402,393		Clevo Co		374
	1,475,394	*	CMC Magnetics Corp		193
	339,783		Cognex Corp		28,525
	155,925	*	Coherent, Inc		32,064
	3,196,109	e	Comba Telecom Systems Holdings Ltd		523
	1,059		Comet Holding AG.		1,292
	907,237	*	CommScope Holding Co, Inc		37,841
	4,279,688		Compal Electronics, Inc		2,792
	4,836,000		Compeq Manufacturing Co		3,497
	89,003		Comtech Telecommunications Corp		1,312
	49,214	*	Control4 Corp		777
	2,615,399	*,e,m	Coolpad Group Ltd		242
	1,042,000		Coretronic Corp		1,531
	1,798,758		Corning, Inc		48,566
	47,466		CPI Card Group, Inc		199
	77,057	*	Cray, Inc		1,688
	17,027	*	CrucialTec Co Ltd		99
	61,152		CTS Corp		1,303
	154,717		Daeduck Electronics Co		1,326
	87,559		Daeduck GDS Co Ltd		1,092
	876,000		Daiwabo Co Ltd		2,585
	71,529		Daktronics, Inc		676
	17,638		Datalogic S.p.A.		453
	163,886		DataTec Ltd		630
	346,000		Delta Electronics Thai PCL		881
	2,559,988		Delta Electronics, Inc		13,711
	39,000		Denki Kogyo Co Ltd		197
	34,500		Dexerials Corp		341
	138,130	e	Diebold, Inc		4,241
	101,510	*	Digi International, Inc		1,208
	815,000	*,e	Digital China Holdings Ltd		715
	518,421		D-Link Corp		243
	149,099		Dolby Laboratories, Inc (Class A)		7,814
	236,200		Eastern Communications Co Ltd		159

160

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	32,826	*,e	Eastman Kodak Co	$	378
	118,049	*	EchoStar Corp (Class A)		6,723
	49,000	*	Egis Technology, Inc		397
	62,471		Eizo Nanao Corp		1,801
	54,600		Elecom Co Ltd		1,044
	54,005	*	Electro Scientific Industries, Inc		376
	1,361,382		Electrocomponents plc		8,075
	92,566	*	Electronics for Imaging, Inc		4,520
	6,100		Elematec Corp		105
	312,654		Elite Material Co Ltd		1,216
	1,312,324		Elitegroup Computer Systems Co Ltd		945
	57,000		EMCORE Corp		513
	34,822		Ennoconn Corp		455
	44,200	e	Enplas Corp		1,227
	12,368	*	ePlus, Inc		1,670
	2,468,660	e	Ericsson (LM) (B Shares)		16,482
	81,082		Esprinet S.p.A.		688
	62,260		Evertz Technologies Ltd		753
	39,758		EVS Broadcast Equipment S.A.		1,516
	822,440	*	Extreme Networks, Inc		6,177
	324,264	*	F5 Networks, Inc		46,230
	82,414	*	Fabrinet		3,464
	40,183	*	FARO Technologies, Inc		1,437
	926,943	*,e	Fingerprint Cards AB		3,727
	1,076,019	*	Finisar Corp		29,418
	161,546		Firich Enterprises Co Ltd		305
	245,970	*,e,n	Fitbit, Inc		1,456
	1,168,884		FLEXium Interconnect, Inc		4,065
	1,270,050	*	Flextronics International Ltd		21,337
	397,628		Flir Systems, Inc		14,426
	92,310		Flytech Technology Co Ltd		306
	3,340,868		Foxconn Technology Co Ltd		10,186
	817,381		Fujifilm Holdings Corp		32,040
	82,800		Fujitsu Frontech Ltd		1,175
	14,074,000	*,e	GCL New Energy Holdings Ltd		779
	69,973		Gemalto NV		3,904
	1,142,000		General Interface Solution Holding Ltd		5,476
	2,560,000		Getac Technology Corp		3,678
	1,388,000		Gigabyte Technology Co Ltd		1,917
	840,000	e	Goldpac Group Ltd		272
	4,581		Green Cross Cell Corp		117
	708,988		Halma plc		9,098
	32,500		Hamamatsu Photonics KK		938
	2,003,330	*	HannStar Display Corp		551
	153,013	*	Harmonic, Inc		910
	320,719		Harris Corp		35,686
	3,760,964		Hewlett Packard Enterprise Co		89,135
	180,303		Hexagon AB (B Shares)		7,236
	709,799		High Tech Computer Corp		1,813
	73,800		Hirose Electric Co Ltd		10,224
	732,579		Hitachi High-Technologies Corp		29,926
	46,900		Hitachi Kokusai Electric, Inc		1,078

161

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,184,525		Hitachi Ltd	$	82,448
	331,000	e	Hitachi Maxell Ltd		6,049
	464,100		Holystone Enterprise Co Ltd		592
	23,099	*	Homecast Co Ltd		205
	44,771,487		Hon Hai Precision Industry Co, Ltd		134,274
	32,295		Horiba Ltd		1,737
	49,900		Hosiden Corp		470
	4,880,285		HP, Inc		87,260
	13,289		Humax Co Ltd		141
	101,100		Ibiden Co Ltd		1,574
	6,300		Icom, Inc		145
	171,476		ICP Electronics, Inc		271
	279,756	*,e	IDEX ASA		239
	207,477	*	II-VI, Inc		7,480
	12,456		Iljin Materials Co Ltd		189
	53,740	*,e	Immersion Corp		465
	1,136,480		Inari Amertron BHD		524
	266,486	m	Inesa Intelligent Tech Inc - B		205
	6,469		Inficon Holding AG.		3,208
	661,545	*,e	Infinera Corp		6,768
	45,316		Ingenico		4,274
	8,971,219		InnoLux Display Corp		3,712
	208,989	*	Insight Enterprises, Inc		8,587
	146,749		InterDigital, Inc		12,664
	162,866	*	InvenSense, Inc		2,057
	2,535,535		Inventec Co Ltd		1,901
	59,125	*	IPG Photonics Corp		7,136
	6,700	e	Iriso Electronics Co Ltd		430
	2,422		Isra Vision AG.		315
	49,300		ITC Networks Corp		756
	739,357		ITEQ Corp		1,095
	217,761	*	Itron, Inc		13,218
	24,137		Ituran Location and Control Ltd		745
	174,506	*	Ixia		3,429
	546,911		Jabil Circuit, Inc		15,817
	36,000		Japan Aviation Electronics Industry Ltd		463
	11,900	e	Japan Cash Machine Co Ltd		153
	1,027,500	*,e	Japan Display, Inc		2,405
	62,007		Japan Radio Co Ltd		771
	561,600		JCY International BHD		76
	114,363		Jenoptik AG.		2,836
	2,961,125		Ju Teng International Holdings Ltd		1,215
	1,709,800		Juniper Networks, Inc		47,584
	43,700		Kaga Electronics Co Ltd		778
	9,558		Kapsch TrafficCom AG.		428
	52,500		KCE Electronics PCL		160
	49,800		Keyence Corp		19,978
	524,057	*	Keysight Technologies, Inc		18,939
	11,580		KH Vatec Co Ltd		145
	83,406	*	Kimball Electronics, Inc		1,414
	2,681,000		Kingboard Chemical Holdings Ltd		9,905
	745,500		Kingboard Laminates Holdings Ltd		968
	19,411		Kingpak Technology, Inc		111
	174,457	*,e	Knowles Corp		3,306

162

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	69,000		Koa Corp	$	910
	9,865		KONA I Co Ltd		92
	565,625		Konica Minolta Holdings, Inc		5,073
	29,054		Kudelski S.A.		475
	31,819	*	KVH Industries, Inc		267
	270,010		Kyocera Corp		15,085
	255,265		Laird Group plc		489
	165,892		Largan Precision Co Ltd		26,128
	7,780,753		Lenovo Group Ltd		5,129
	15,277		LG Innotek Co Ltd		1,866
	229,853		LG.Philips LCD Co Ltd		6,224
	6,406,295		Lite-On Technology Corp		11,042
	70,987		Littelfuse, Inc		11,352
	461,608		Logitech International S.A.		14,669
	53,000		Lotes Co Ltd		159
	1,416,292	*	Lumentum Holdings, Inc		75,559
	27,600		Macnica Fuji Electronics Holdings, Inc		393
	123,300		Marubun Corp		792
	42,000		Maruwa Co Ltd		1,502
	57,139	*,e	Maxwell Technologies, Inc		332
	25,900		Mcj Co Ltd		304
	51,700		Melco Holdings, Inc		1,496
	131,076		Merry Electronics Co Ltd		704
	5,723		Mesa Laboratories, Inc		702
	159,234		Methode Electronics, Inc		7,261
	209,989	e	Micronic Laser Systems AB		2,151
	678,000		Micro-Star International Co Ltd		1,578
	3,076,082		Mitac Holdings Corp		3,417
	492,474		Motorola, Inc		42,461
	32,353		MTS Systems Corp		1,781
	278,328		Murata Manufacturing Co Ltd		39,652
	183,000		Nan Ya Printed Circuit Board Corp		156
	150,000		Nanjing Panda Electronics		122
	54,000		Nanjing Sample Technology Co Ltd		99
	353,535		National Instruments Corp		11,511
	815,651	*,n	NCR Corp		37,259
	4,211,270	e	NEC Corp		10,166
	92,471		Neopost S.A.		3,546
	472,360		NetApp, Inc		19,768
	174,131	*	Netgear, Inc		8,628
	175,933	*	Netscout Systems, Inc		6,677
	42,726		Nichicon Corp		398
	121,165	*	Nimble Storage, Inc		1,515
	53,400		Nippon Ceramic Co Ltd		1,162
	969,341		Nippon Electric Glass Co Ltd		5,872
	38,300		Nippon Signal Co Ltd		345
	15,200	e	Nohmi Bosai Ltd		209
	1,277,916	e	Nokia Corp		6,926
	8,465,704		Nokia Oyj (Turquoise)		45,502
	111,095	*	Novanta, Inc		2,950
	2,925,351	*,e	Oclaro, Inc		28,727
	61,000		Oki Electric Industry Co Ltd		879

163

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	644,556		Omron Corp	$	28,321
	247,000	*	O-Net Communications Group		210
	11,000		Optex Co Ltd		300
	186,355	*	Orbotech Ltd		6,010
	351,000		Osaki Electric Co Ltd		3,053
	34,265	*	OSI Systems, Inc		2,501
	58,014		Oxford Instruments plc		596
	177,355	*	Palo Alto Networks, Inc		19,984
	309,224		Pan-International Industrial		304
	57,253		Park Electrochemical Corp		1,023
	14,475	*,e	Parrot S.A.		137
	32,594		Partron Co Ltd		335
	2,252,000	e	PAX Global Technology Ltd		1,438
	57,309		PC Connection, Inc		1,707
	1,994,917		Pegatron Technology Corp		5,906
	126,625		Plantronics, Inc		6,852
	85,788	*	Plexus Corp		4,959
	38,959		Posiflex Technology, Inc		219
	1,647,000		Primax Electronics Ltd		2,701
	667,000		Prime View International Co Ltd		579
	525,758	*,e	Pure Storage, Inc		5,168
	2,757,338		Quanta Computer, Inc		5,606
	10,986	*,e	Quantenna Communications, Inc		229
	90,404	*	Radisys Corp		362
	57,127	*,e	Radware Ltd		923
	510,800		Redington India Ltd		866
	57,571		Renishaw plc		2,242
	170,833	e	Ricoh Co Ltd		1,409
	9,879	m	RICOH INDIA Ltd		29
	39,600		Riso Kagaku Corp		696
	1,397,062	*	Ritek Corp		260
	79,736	*	Rogers Corp		6,847
	9,600		Roland DG Corp		289
	25,600		Ryosan Co Ltd		772
	15,500		Ryoyo Electro Corp		229
	24,714		S&T AG.		271
	370,700		Samart Corp PCL		164
	55,056		Samsung Electro-Mechanics Co Ltd		3,423
	57,753		Samsung SDI Co Ltd		7,130
	388,705		Sandvine Corp		900
	329,853	*	Sanmina Corp		13,392
	113,232	*	Scansource, Inc		4,444
	4,225		Seagate Technology, Inc		194
	143,500		Seiko Epson Corp		3,028
	822,000		Sercomm Corp		2,059
	7,955		SFA Engineering Corp		515
	103,800	*	Shanghai Potevio Co Ltd		79
	153,576		Shimadzu Corp		2,444
	497,369	*	ShoreTel, Inc		3,059
	35,552	*,e	Sierra Wireless, Inc		944
	11,500	e	Siix Corp		465
	22,995	e	Silicom Ltd		1,142
	675,000		Simplo Technology Co Ltd		2,291

164

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	171,123		Sinbon Electronics Co Ltd	$	420
	3,750		Sindoh Co Ltd		171
	147,000		SMK Corp		524
	164,112	*	Sonus Networks, Inc		1,082
	109,037		Spectris plc		3,409
	2,011		Spigen Korea Co Ltd		96
	40,494	*,m	Sterlite Power Transmission Ltd		70
	80,662		Sterlite Technologies Ltd		156
	240,423	*,e	Stratasys Ltd		4,926
	850,000		Sunny Optical Technology Group Co Ltd		6,221
	76,389	*	Super Micro Computer, Inc		1,936
	136,023	*,e	Synaptics, Inc		6,735
	86,213		SYNNEX Corp		9,651
	1,423,238		Synnex Technology International Corp		1,532
	45,016		Systemax, Inc		499
	856,577		Taiwan PCB Techvest Co Ltd		892
	223,003		Taiyo Yuden Co Ltd		2,829
	275,390		TDK Corp		17,486
	204,874		TE Connectivity Ltd		15,273
	159,241	*	Tech Data Corp		14,953
	1,056,000		Technovator International Ltd		408
	145,138	e	Telit Communications plc		638
	131,495		Test Research, Inc		185
	609,701	*,e	Thin Film Electronics ASA		239
	49,029	*,e	Tobii AB		316
	115,625		Tong Hsing Electronic Industries Ltd		511
	11,830,000	e	Tongda Group Holdings Ltd		4,176
	91,100	e	Topcon Corp		1,632
	263,000		Toshiba TEC Corp		1,477
	56,400		Toyo Corp/Chuo-ku		514
	226,000	*	TPK Holding Co Ltd		793
	822,000	e	Tpv Technology Ltd		222
	16,100		Transcend Information, Inc		53
	532,000	m	Trigiant Group Ltd		81
	600,583	*	Trimble Navigation Ltd		19,225
	1,496,832		Tripod Technology Corp		4,217
	1,580,000	e	Truly International Holdings		561
	20,800		TSC Auto ID Technology Co Ltd		158
	472,951	*	TTM Technologies, Inc		7,629
	258,039		TXC Corp		369
	50,762	*,e	Ubiquiti Networks, Inc		2,551
	1,069,883		Unimicron Technology Corp		589
	188,413		Universal Display Corp		16,222
	74,740	*,e	USA Technologies, Inc		318
	3,600	e	V Technology Co Ltd		555
	999,595		Venture Corp Ltd		8,196
	231,126	*	VeriFone Systems, Inc		4,329
	102,194	*,e	Viasat, Inc		6,522
	1,103,363	*	Viavi Solutions, Inc		11,828
	268,939		Vishay Intertechnology, Inc		4,424
	45,634	*	Vishay Precision Group, Inc		721

165

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,315,400		VS Industry Bhd	$	1,296
	1,658,800		VST Holdings Ltd		581
	127,000		Vtech Holdings Ltd		1,518
	110,300	e	Wacom Co Ltd		399
	1,290,000		Wah Lee Industrial Corp		2,075
	1,751,140		Walsin Technology Corp		2,583
	1,394,000	e	Wasion Group Holdings Ltd		734
	968,171		Western Digital Corp		79,903
	21,505		Wincor Nixdorf AG.		1,629
	190,500	*,b,m	Wintek Corp		0	^
	8,390,495		Wistron Corp		7,688
	205,520		Wistron NeWeb Corp		578
	4,098,732		WPG Holdings Co Ltd		5,147
	1,548,848		WT Microelectronics Co Ltd		2,264
	5,740,085		Xerox Corp		42,132
	15,750	*,m	Ya Hsin Industrial Co Ltd		0
	298,993		Yageo Corp		815
	56,993		Yamatake Corp		1,920
	505,500	e,g	Yangtze Optical Fibre and Cable Joint Stock Ltd		984
	57,538		Yaskawa Electric Corp		1,159
	68,584		Yokogawa Electric Corp		1,082
	140,115	*	Zebra Technologies Corp (Class A)		12,785
	418,405		Zhen Ding Technology Holding Ltd		983
	238,000		Zinwell Corp		266
	838,538		ZTE Corp		1,541
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		5,638,193
TELECOMMUNICATION SERVICES - 2.6%
	7,053		012 Smile.Communications Ltd		142
	996,089		Advanced Info Service PCL (Foreign)		5,203
	350,739		AFK Sistema (GDR)		3,139
	34,959,884		America Movil S.A. de C.V. (Series L)		24,798
	292,750		APT Satellite Holdings Ltd		157
	1,680,836	*	Asia Pacific Telecom Co Ltd		552
	19,357,522		AT&T, Inc		804,305
	34,360		ATN International, Inc		2,420
	700,400	*,e	Axtel SAB de C.V.		140
	995,019		BCE, Inc		44,055
	90,919		Belgacom S.A.		2,849
	10,133,412		Bezeq Israeli Telecommunication Corp Ltd		18,199
	1,491,321		Bharti Airtel Ltd		8,038
	899,519		Bharti Infratel Ltd		4,517
	181,796	*	Boingo Wireless, Inc		2,362
	7,094,336		BT Group plc		28,329
	161,016	*	Cellcom Israel Ltd		1,669
	116,567	g	Cellnex Telecom SAU		1,920
	1,397,628	e	CenturyTel, Inc		32,942
	5,625,371		China Communications Services Corp Ltd		3,684
	8,738,399		China Mobile Hong Kong Ltd		96,101
	16,942,457		China Telecom Corp Ltd		8,276
	8,239,681		China Unicom Ltd		11,067
	776,858		Chorus Ltd		2,351
	3,996,988		Chunghwa Telecom Co Ltd		13,573

166

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	126,064	*	Cincinnati Bell, Inc	$	2,231
	3,776,000		Citic 1616 Holdings Ltd		1,147
	81,534		Cogent Communications Group, Inc		3,510
	275,881		Com Hem Holding AB		3,162
	100,341	e	Consolidated Communications Holdings, Inc		2,350
	7,348,480		Deutsche Telekom AG.		128,765
	3,619,839		Digi.Com BHD		4,196
	15,067		Digital Multimedia Technologies S.p.A.		847
	33,928	e	Drillisch AG.		1,726
	73,489		Elisa Oyj (Series A)		2,598
	3,337,230		Emirates Telecommunications Group Co PJSC		16,409
	177,605		Empresa Nacional de Telecomunicaciones S.A.		2,147
	94,618	g	Euskaltel S.A.		968
	48,006	*	Fairpoint Communications, Inc		797
	1,544,236		Far EasTone Telecommunications Co Ltd		3,791
	2,791,302		France Telecom S.A.		43,337
	155,879		Freenet AG.		5,067
	2,910,265	e	Frontier Communications Corp		6,228
	79,685	*	General Communication, Inc (Class A)		1,657
	1,403,427	*,e	Globalstar, Inc		2,245
	33,971		Globe Telecom, Inc		1,376
	25,701	*	Hawaiian Telcom Holdco, Inc		589
	382,688		Hellenic Telecommunications Organization S.A.		3,595
	305,763	*	Himachal Futuristic Communications		60
	1,752,500		HKBN Ltd		1,957
	4,070,127		HKT Trust and HKT Ltd		5,248
	1,452,651	e	Hutchison Telecommunications Hong Kong Holdings Ltd		432
	1,401,601		Idea Cellular Ltd		1,853
	80,330		IDT Corp (Class B)		1,022
	26,407		Iliad S.A.		5,898
	213,252	g	Infrastrutture Wireless Italiane S.p.A		1,124
	203,675		Inmarsat plc		2,170
	101,505	*,e	Intelsat S.A.		421
	161,568	*,e	Iridium Communications, Inc		1,559
	87,800	*,e	Japan Communications, Inc		151
	1,864,400		Jasmine International PCL		458
	1,176,463		Kcom Group plc		1,327
	1,437,652		KDDI Corp		37,811
	22,146		KT Corp		632
	248,674	*,e,m	Let’s GOWEX S.A.		3
	769,390	*,n	Level 3 Communications, Inc		44,025
	415,229		LG Telecom Ltd		5,314
	37,777	*	Lumos Networks Corp		669
	1,153,977		Magyar Telekom		1,914
	3,704,090		Maxis BHD		5,389
	19,439		MegaFon OAO (GDR)		228
	12,360	e	Millicom International Cellular S.A.		689
	1,029,418		Mobile TeleSystems (ADR)		11,354
	458,509	e	MobileOne Ltd		698
	105,162	*	Mobistar S.A.		2,245
	1,946,196	e	MTN Group Ltd		17,688
	510,192		Netia S.A.		587

167

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,387,733		Nippon Telegraph & Telephone Corp	$	59,330
	2,569,845		NTT DoCoMo, Inc		60,012
	16,595	*	Numericable-SFR  SAS		521
	120,374		Ooredoo QSC		3,194
	2,269,857	*	Orascom Telecom Holding SAE		854
	2,305,072	*	Orascom Telecom Media And Technology Holding SAE		95
	129,146	*	Orbcomm, Inc		1,233
	223,795	*	Partner Communications		1,177
	8,479,276		PCCW Ltd		5,002
	20,341	*,e	pdvWireless, Inc		444
	94,807		PLDT, Inc		3,109
	4,111,411	*	PT Excelcomindo Pratama		944
	857,000		PT Link Net Tbk		349
	69,921,224		PT Telekomunikasi Indonesia Persero Tbk		21,735
	697,220	*	Reliance Communication Ventures Ltd		411
	1,016,252		Rogers Communications, Inc (Class B)		44,934
	177,191		Rostelecom (ADR)		1,449
	4,179,190		Royal KPN NV		12,564
	128,280	*	Sejong Telecom, Inc		114
	90,629		Shenandoah Telecom Co		2,542
	16,963,363		Singapore Telecommunications Ltd		47,537
	100,933		SK Telecom Co Ltd		22,806
	448,377		SmarTone Telecommunications Holding Ltd		578
	1,139,936		Softbank Corp		80,839
	45,495		Spok Holdings, Inc		864
	1,792,322	*,e	Sprint Corp		15,557
	452,040	e	StarHub Ltd		931
	18,575	*,e	Straight Path Communications, Inc		668
	104,402	g	Sunrise Communications Group AG.		7,866
	13,492		Swisscom AG.		6,219
	1,781,942		Taiwan Mobile Co Ltd		6,547
	486,054	e	TalkTalk Telecom Group plc		1,154
	108,579		Tata Communications Ltd		1,207
	477,244		TDC AS		2,458
	80,482		Tele2 AB (B Shares)		768
	3,568,413		Telecom Corp of New Zealand Ltd		8,747
	18,067,988		Telecom Italia RSP		13,191
	5,686,139	*	Telecom Italia S.p.A.		5,119
	989,799		Telefonica Brasil S.A.		14,781
	601,297		Telefonica Deutschland Holding AG.		2,981
	159,583		Telefonica O2 Czech Republic AS		1,783
	2,990,219		Telefonica S.A.		33,471
	1,333,983		Telekom Malaysia BHD		1,935
	585,490		Telekomunikacja Polska S.A.		683
	508,581		Telenor ASA		8,460
	884,051		Telephone & Data Systems, Inc		23,436
	2,564,901	*,e	Telesites SAB de C.V.		1,663
	2,249,264		TeliaSonera AB		9,430
	1,357,308		Telkom S.A. Ltd		7,591
	8,315,333		Telstra Corp Ltd		29,589
	338,310		TELUS Corp		10,982
	318,700		Thaicom PCL		184

168

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,795,484		Tim Participacoes S.A.	$	5,793
	435,520		Time dotCom BHD		856
	2,949,589		TM International BHD		3,372
	2,163,772	*	T-Mobile US, Inc		139,758
	2,625,483		Tower Bersama Infrastructure		1,074
	425,727	e	TPG Telecom Ltd		2,267
	12,627,316		True Corp PCL		2,499
	336,236		Turk Telekomunikasyon AS		546
	915,000		Turkcell Iletisim Hizmet AS		3,014
	38,987	*	US Cellular Corp		1,455
	11,999,996		Verizon Communications, Inc		585,000
	370,555	e	Vocus Communications Ltd		1,223
	497,707		Vodacom Group Pty Ltd		5,634
	47,244,430		Vodafone Group plc		123,118
	464,600		Vodafone Group plc (ADR)		12,279
	276,472		Vodafone Qatar		709
	1,335,427	*	Vonage Holdings Corp		8,440
	818,942	e	Windstream Holdings, Inc		4,463
	315,482	*	Zayo Group Holdings, Inc		10,379
			TOTAL TELECOMMUNICATION SERVICES		3,014,369
TRANSPORTATION - 2.2%
	573,069		Abertis Infraestructuras S.A. (Continuous)		9,225
	71,514		Aegean Airlines S.A.		565
	215,468	g	Aena S.A.		34,057
	28,559		Aeroports de Paris		3,528
	5,338,742		Air Arabia PJSC		1,541
	217,389	*	Air Canada		2,256
	1,895,225		Air China Ltd		1,535
	108,015	*	Air France-KLM		817
	3,520,734		Air New Zealand Ltd		6,071
	207,746	*	Air Transport Services Group, Inc		3,334
	1,368,558		AirAsia BHD		971
	9,992,625	*	AirAsia X BHD		903
	4,799,000		Airports of Thailand PCL		5,482
	11,463	*	AJ Rent A Car Co Ltd		105
	635,438		Alaska Air Group, Inc		58,600
	697,459		All Nippon Airways Co Ltd		2,133
	54,631		Allcargo Logistics Ltd		142
	26,030		Allegiant Travel Co		4,171
	29,017		Amerco, Inc		11,061
	1,356,181		American Airlines Group, Inc		57,366
	634,771	*,b,m	AMR Corp (Escrow)		6
	356,000	e	Anhui Expressway Co		282
	136,536		Ansaldo STS S.p.A.		1,793
	5,092		AP Moller - Maersk AS (Class A)		8,206
	5,983		AP Moller - Maersk AS (Class B)		9,910
	110,335		Arkansas Best Corp		2,869
	91,672	*	Asiana Airlines		370
	66,351	*	Atlas Air Worldwide Holdings, Inc		3,679
	957,034		Auckland International Airport Ltd		4,532
	104,302		Autostrada Torino-Milano S.p.A.		1,564

169

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	803,417		Autostrade S.p.A.	$	20,725
	903,085		Avianca Holdings S.A.		880
	240,667	*	Avis Budget Group, Inc		7,119
	648,200		Bangkok Airways Co Ltd		383
	135,150		Bangkok Aviation Fuel Services PCL		154
	7,154,953		Bangkok Expressway & Metro PCL		1,583
	799,459		BBA Aviation plc		3,048
	1,748,097		Beijing Capital International Airport Co Ltd		2,092
	7,880		Blue Dart Express Ltd		632
	706,289		Bollore		2,734
	338,460		bpost S.A.		7,941
	6,370,627		BTS Group Holdings PCL (Foreign)		1,567
	1,120,398		Canadian National Railway Co		82,700
	216,618		Canadian Pacific Railway Ltd (Toronto)		31,820
	956,928	e	Cathay Pacific Airways Ltd		1,389
	709,810		Cebu Air, Inc		1,328
	230,775	e	Celadon Group, Inc		1,512
	116,569		Central Japan Railway Co		19,040
	102,009		CH Robinson Worldwide, Inc		7,884
	1,533,335		China Airlines		533
	1,417,093	e	China Merchants Holdings International Co Ltd		4,151
	1,979,500		China Southern Airlines Co Ltd		1,371
	350,000		Chu Kong Shipping Development		89
	1,923,399		Cia de Concessoes Rodoviarias		11,090
	109,242		Cia de Distribucion Integral Logista Holdings SAU		2,536
	1,481,810		ComfortDelgro Corp Ltd		2,712
	9,437,108	*	Compania SudAmericana de Vapores S.A.		345
	49,849		Container Corp Of India Ltd		978
	550,800	*,e	Controladora Vuela Cia de Aviacion SAB de C.V.		770
	107,330		Copa Holdings S.A. (Class A)		12,048
	99,200	*	Cosan Logistica S.A.		214
	784,000		Cosco International Holdings Ltd		337
	4,992,933	e	COSCO Pacific Ltd		5,514
	216,564		Costamare, Inc		1,442
	23,546	*	Covenant Transportation Group, Inc		443
	3,627,523		CSX Corp		168,861
	110,638		CTT-Correios de Portugal S.A.		604
	245,200		CWT Ltd		351
	19,734	*	D/S Norden		399
	656,333		Dart Group plc		4,243
	597,275		Dazhong Transportation Group Co Ltd		423
	1,703,988		Delta Air Lines, Inc		78,315
	332,044		Deutsche Lufthansa AG.		5,387
	1,035,679		Deutsche Post AG.		35,445
	113,183		Dfds A.S.		6,218
	534,894		DP World Ltd		11,500
	687,479		DSV AS		35,559
	622,502		East Japan Railway Co		54,358
	1,513,336		easyJet plc		19,457
	56,206	*,e	Echo Global Logistics, Inc		1,200
	186,500		EcoRodovias Infraestrutura e Logistica S.A.		539
	85,600	*,e	eHi Car Services Ltd (ADR)		865
	1,974,554		El Al Israel Airlines		1,455

170

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	763,444	*	Enav S.p.A	$	3,101
	98,526	*,g	Europcar Groupe S.A.		1,047
	880,584		Eva Airways Corp		467
	529,000		Evergreen International Storage & Transport Corp		249
	1,548,055		Evergreen Marine Corp Tawain Ltd		724
	4,929	e	Exchange Income Corp		145
	223,588		Expeditors International of Washington, Inc		12,630
	696,291		FedEx Corp		135,881
	40,080	e	Finnair Oyj		201
	1,532,379	*	Firstgroup plc		2,535
	48,002		Flughafen Zuerich AG.		10,227
	95,515		Forward Air Corp		4,544
	38,554		Fraport AG. Frankfurt Airport Services Worldwide		2,726
	287,060		Freightways Ltd		1,507
	109,000	e	Fukuyama Transporting Co Ltd		654
	115,781		Gateway Distriparks Ltd		451
	300,321	*	Genesee & Wyoming, Inc (Class A)		20,380
	63,057		GLOVIS Co Ltd		8,293
	105,133		Go-Ahead Group plc		2,270
	138,200	*	Gol Linhas Aereas Inteligentes S.A.		368
	84,872	*,e	Golden Ocean Group Ltd		646
	380,158		Grindrod Ltd		405
	377,524		Groupe Eurotunnel S.A.		3,795
	505,800	*,e	Grupo Aeromexico SAB de C.V.		1,044
	175,300		Grupo Aeroportuario del Centro Norte Sab de C.V.		949
	347,631		Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		3,382
	356,990		Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		6,198
	685,725		Guangdong Provincial Expressway Development Co Ltd		502
	663,000		Guangdong Yueyun Transportation Co Ltd		484
	185,475		Gujarat Pipavav Port Ltd		472
	34,000		Hainan Meilan International Airport Co Ltd		30
	71,627		Hamburger Hafen und Logistik AG.		1,340
	37,303		Hanjin Kal Corp		654
	6,953		Hanjin Transportation Co Ltd		160
	587,025		Hankyu Hanshin Holdings, Inc		19,155
	192,323	*	Hawaiian Holdings, Inc		8,933
	88,928		Heartland Express, Inc		1,783
	157,384	*,e	Hertz Global Holdings, Inc		2,761
	103,100		Hitachi Transport System Ltd		2,142
	1,982,739	e	Hopewell Highway Infrastructure Ltd		1,069
	205,708	*	Hub Group, Inc (Class A)		9,545
	5,318,153		Hutchison Port Holdings Trust		2,207
	1,746	*	ID Logistics Group		248
	244,057		Iino Kaiun Kaisha Ltd		1,070
	845,918		International Consolidated Airlines Group S.A.		5,588
	500,717		International Container Term Services, Inc		897
	305,954		Irish Continental Group plc		1,616
	311,634		J.B. Hunt Transport Services, Inc		28,589
	328,187		Japan Airlines Co Ltd		10,420
	31,300	e	Japan Airport Terminal Co Ltd		1,092
	7,298		Jeju Air Co Ltd		194
	138,751	*	Jet Airways India Ltd		1,124

171

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,047,250	*	JetBlue Airways Corp	$	21,584
	4,519,834		Jiangsu Express		6,493
	210,310		Jinzhou Port Co Ltd		113
	57,300		Julio Simoes Logistica S.A.		126
	565,587		Kamigumi Co Ltd		4,902
	258,553		Kansas City Southern Industries, Inc		22,174
	1,311,400	*,e	Kawasaki Kisen Kaisha Ltd		3,496
	82,638	e	Keihin Electric Express Railway Co Ltd		909
	426,586	e	Keio Corp		3,389
	24,161		Keisei Electric Railway Co Ltd		562
	2,089,047		Kerry Logistics Network Ltd		2,931
	1,281,179	e	Kintetsu Corp		4,632
	28,000		Kintetsu World Express, Inc		424
	347,672	*	Kirby Corp		24,528
	132,529		Knight Transportation, Inc		4,155
	76,200		Konoike Transport Co Ltd		946
	7,662	*	Korea Express Co Ltd		1,141
	12,454	*	Korea Line Corp		259
	38,799	*	Korean Air Lines Co Ltd		1,095
	24,548		Kuehne & Nagel International AG.		3,466
	1,700		Kyushu Railway Co		52
	454,372	*	Lan Airlines S.A.		5,754
	97,388		Landstar System, Inc		8,341
	69,900		Lingkaran Trans Kota Holdings BHD		95
	589,702		Localiza Rent A Car		7,849
	3,818	e	Logistec Corp		103
	1,021,484		Macquarie Atlas Roads Group		3,995
	163,442		Macquarie Infrastructure Co LLC		13,170
	770,006		Malaysia Airports Holdings BHD		1,209
	46,727		Marten Transport Ltd		1,096
	97,000		Maruzen Showa Unyu Co Ltd		386
	181,529		Matson, Inc		5,765
	2,985,256		MISC BHD		4,935
	25,349	e	Mitsubishi Logistics Corp		350
	3,091,212		Mitsui OSK Lines Ltd		9,715
	79,610		Mitsui-Soko Co Ltd		238
	150,000	*	Movida Participacoes S.A.		399
	2,628,673	e	MTR Corp		14,769
	1,470,633		Mundra Port and Special Economic Zone Ltd		7,692
	669,055	e	Nagoya Railroad Co Ltd		3,017
	241,100		Namyong Terminal PCL		108
	618,000		Nankai Electric Railway Co Ltd		3,013
	913,196		National Express Group plc		4,119
	783	*,g	Navkar Corp Ltd		2
	698,261		Nippon Express Co Ltd		3,594
	129,300	e	Nippon Konpo Unyu Soko Co Ltd		2,769
	2,178,084		Nippon Yusen Kabushiki Kaisha		4,598
	282,000	e	Nishi-Nippon Railroad Co Ltd		1,192
	57,000		Nissin Corp		191
	279,475	g	Nobina AB		1,661
	1,101,051		Norfolk Southern Corp		123,285
	315,081		Northgate plc		2,171
	22,172	*,e	Norwegian Air Shuttle AS		610

172

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	43,318	e	Odakyu Electric Railway Co Ltd	$	845
	30,112		Oesterreichische Post AG.		1,199
	2,282,453		OHL Mexico SAB de CV		3,223
	152,928		Old Dominion Freight Line		13,086
	231,000		Orient Overseas International Ltd		1,234
	3,006,290	*,e	Pacific Basin Shipping Ltd		639
	7,561	*	PAM Transportation Services, Inc		123
	8,267		Panalpina Welttransport Holding AG.		997
	17,387		Park-Ohio Holdings Corp		625
	43,832	*	Pegasus Hava Tasimaciligi AS.		173
	7,222		Piraeus Port Authority		99
	54,826	*	PKP Cargo S.A.		898
	695,600		Pos Malaysia & Services Holdings BHD		720
	511,950	*	Precious Shipping PCL		158
	683,202		Promotora y Operadora de Infraestructura SAB de C.V.		7,384
	66,000	*	Prumo Logistica S.A.		195
	12,753,500	*,m	PT Berlian Laju Tanker Tbk		0	^
	4,504,200	*	PT Garuda Indonesia Tbk		116
	2,318,754		PT Jasa Marga Tbk		804
	4,131,177		Qantas Airways Ltd		12,277
	1,798,000	g	Qingdao Port International Co Ltd		1,005
	643,000	e	Qinhuangdao Port Co Ltd		180
	2,062,279		QR National Ltd		8,270
	735,009	e	Qube Logistics Holdings Ltd		1,437
	319,909	*	Radiant Logistics, Inc		1,600
	653,409		Redde plc		1,238
	149,182	*	Roadrunner Transportation Services Holdings, Inc		1,025
	321,164		Royal Mail plc		1,711
	1,046,600	*	Rumo S.A.		2,858
	3,051	*	Ryanair Holdings plc		47
	202,600	*	Ryanair Holdings plc (ADR)		16,812
	45,377		Ryder System, Inc		3,423
	305,000	e	Sagami Railway Co Ltd		1,418
	49,795	*	Saia, Inc		2,206
	96	*,m	SAir Group		0
	7,500		Sakai Moving Service Co Ltd		209
	407,000		Sankyu, Inc		2,476
	503,800		Santos Brasil Participacoes S.A.		367
	75,950	*,e	SAS AB		121
	83,668	*,e	Scorpio Bulkers, Inc		770
	39,780	e	Seaspan Corp		276
	521		Sebang Co Ltd		7
	507,000	e	Seino Holdings Corp		5,709
	99,000		Senko Co Ltd		639
	127,100		Shandong Airlines Co Ltd		283
	133,600		Shanghai Jinjiang International Investment Holdings Co		193
	56,500	*	Shenzhen Chiwan Petroleum		169
	110,300		Shenzhen Chiwan Wharf Holdings Ltd		182
	558,000		Shenzhen Expressway Co Ltd		506
	1,310,781		Shenzhen International Holdings Ltd		2,151
	123,000		Shinwa Kaiun Kaisha Ltd		265
	90,819	*	Shipping Corp of India Ltd		107

173

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,229,097		Shun TAK Holdings Ltd	$	435
	2,974,000		Sichuan Expressway Co Ltd		1,256
	79,000		Sincere Navigation		62
	195,349		Singapore Airlines Ltd		1,406
	473,400		Singapore Airport Terminal Services Ltd		1,651
	1,176,519	e	Singapore Post Ltd		1,144
	2,651,051		Sinotrans Ltd		1,239
	1,250,500	e	Sinotrans Shipping Ltd		303
	2,833,000	e	SITC International Co Ltd		1,947
	12,445	e	Sixt AG.		641
	38,157		Sixt AG. (Preference)		1,555
	9,289	e	Sixt Leasing AG.		181
	198,353		Skywest, Inc		6,794
	100,960		Societa Iniziative Autostradali e Servizi S.p.A.		964
	2,011,626		Southwest Airlines Co		108,145
	1,111,833	*	SpiceJet Ltd		1,741
	320,936	*	Spirit Airlines, Inc		17,032
	714,788		Stagecoach Group plc		1,873
	68,730		Stolt-Nielsen S.A.		1,169
	62,065	e	Student Transportation, Inc		364
	398,767	e	Sumitomo Warehouse Co Ltd		2,198
	180,567	*,e	Swift Transportation Co, Inc		3,709
	1,343,273		Sydney Airport		6,946
	307,000		T.Join Transportation Co		434
	162,603		TAV Havalimanlari Holding AS		648
	150,000	*	Tegma Gestao Logistica		553
	645,590		TFI International, Inc		15,074
	695,900	*	Thai Airways International PCL-Foreign		375
	690,935		Thoresen Thai Agencies PCL		200
	4,780,000		Tianjin Port Development Holdings Ltd		812
	1,668,842	*	TNT NV		7,872
	694,033		Tobu Railway Co Ltd		3,525
	1,447,075		Tokyu Corp		10,282
	14,200		Trancom Co Ltd		736
	1,678,367		Transurban Group (ASE)		14,961
	589,963	*	Turk Hava Yollari		888
	278,000		U-Ming Marine Transport Corp		299
	4,303,676		Union Pacific Corp		455,845
	888,171	*	United Continental Holdings, Inc		62,740
	1,331,528		United Parcel Service, Inc (Class B)		142,873
	19,152		Universal Truckload Services, Inc		275
	36,097	*	USA Truck, Inc		265
	60,603	*	Virgin Australia Holdings Ltd		9
	67,336	*,m	Virgin Australia Int Holdings		0	^
	21,075		VRL Logistics Ltd		101
	25,989	e	VTG AG.		844
	502,000		Wan Hai Lines Ltd		291
	87,813		Werner Enterprises, Inc		2,301
	138,583		West Japan Railway Co		9,038
	84,094		WestJet Airlines Ltd		1,442
	3,981,900		Westports Holdings BHD		3,644
	165,693		Westshore Terminals Investment Corp		3,297
	124,256	*	Wilh. Wilhelmsen ASA		608

174

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	69,376		Wisdom Marine Lines Co Ltd	$	75
	2,602,000		Xiamen International Port Co Ltd		549
	286,164	*	XPO Logistics, Inc		13,704
	53,866		Yamato Transport Co Ltd		1,129
	848,000	*	Yang Ming Marine Transport		195
	127,006	*	YRC Worldwide, Inc		1,398
	1,366,000	e	Yuexiu Transport Infrastructure Ltd		1,057
	12,900		Yusen Air & Sea Service Co Ltd		130
	4,102,194		Zhejiang Expressway Co Ltd		5,366
	1,181,651	*,e	ZTO Express Cayman, Inc (ADR)		15,468
			TOTAL TRANSPORTATION		2,616,332
UTILITIES - 2.7%
	1,214,642		A2A S.p.A.		1,835
	3,431,410		Aboitiz Power Corp		2,854
	84,474		Acciona S.A.		6,757
	86,116		ACEA S.p.A.		1,172
	102,596		Actelios S.p.A.		122
	682,329	*	Adani Power Ltd		419
	151,627	*	Adani Transmissions Ltd		150
	1,398,112		AES Corp		15,631
	2,169,471		AES Gener S.A.		877
	217,579	*	AES Tiete S.A.		952
	348,364	*,m	AET&D Holdings No 1  Ptd Ltd		0
	1,390,139		AGL Energy Ltd		28,002
	3,381,468		Aguas Andinas S.A.		1,971
	264,514	e	Algonquin Power & Utilities Corp		2,526
	139,037		Allete, Inc		9,414
	228,962		Alliant Energy Corp		9,069
	286,310		Alupar Investimento S.A.		1,873
	508,238		Ameren Corp		27,745
	2,893,071		American Electric Power Co, Inc		194,212
	103,110		American States Water Co		4,568
	497,673		American Water Works Co, Inc		38,704
	895,962		APA Group		6,132
	169,324		Aqua America, Inc		5,444
	12,103	*,e	AquaVenture Holdings Ltd		207
	20,380		Artesian Resources Corp		664
	168,783		Ascopiave S.p.A.		625
	230,953		Atco Ltd		8,980
	133,259		Athens Water Supply & Sewage Co S.A.		740
	226,176	*	Atlantic Power Corp		599
	115,054	*	Atlantic Power Corp (Toronto)		304
	206,075		Atlantica Yield plc		4,319
	124,068		Atmos Energy Corp		9,800
	1,990,419		AusNet Services		2,562
	143,633		Avangrid, Inc		6,139
	154,648		Avista Corp		6,039
	72,399		Aygaz AS		293
	1,899,534	*	Babcock & Brown Wind Partners		1,458
	2,736,000	*	Beijing Blue Sky Holding		204
	4,746,191	e	Beijing Enterprises Water Group Ltd		3,518

175

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	16,974,100		Benpres Holdings Corp	$	2,608
	77,285		BKW S.A.		4,178
	101,735	e	Black Hills Corp		6,762
	47,089		Boralex, Inc		760
	94,723		California Water Service Group		3,396
	482,102	*	Calpine Corp		5,327
	92,123		Canadian Utilities Ltd		2,699
	508,000	e	Canvest Environment Protection Group Co Ltd		305
	269,581	e	Capital Power Corp		5,283
	63,788		Capital Stage AG.		420
	1,205,446		Centerpoint Energy, Inc		33,234
	405,200	*	Centrais Eletricas Brasileiras S.A.		2,213
	512,279		Centrais Eletricas Brasileiras S.A. (Preference)		3,611
	12,780,111		Centrica plc		34,800
	99,573		CESC Ltd		1,290
	365,382		CEZ AS		6,291
	4,936,000	e	CGN New Energy Holdings Co Ltd		788
	11,987,000	g	CGN Power Co Ltd		3,705
	60,746		Chesapeake Utilities Corp		4,204
	810,344	e	Cheung Kong Infrastructure Holdings Ltd		6,364
	2,050,000	*	China Datang Corp Renewable Power Co Ltd		211
	255,400	e	China Everbright Water Ltd		87
	1,914,308	e	China Gas Holdings Ltd		3,084
	3,734,627		China Longyuan Power Group Corp		2,905
	3,908,000	*,e	China Oil and Gas Group Ltd		297
	3,629,796		China Power International Development Ltd		1,350
	359,500	e	China Power New Energy Development Co Ltd		226
	977,580	e	China Resources Gas Group Ltd		3,462
	5,840,983		China Resources Power Holdings Co		10,545
	690,000		China Water Affairs Group Ltd		455
	992,000	*	China Water Industry Group Ltd		189
	888,136		Chubu Electric Power Co, Inc		11,930
	204,552	e	Chugoku Electric Power Co, Inc		2,269
	602,500		Cia de Saneamento Basico do Estado de Sao Paulo		6,272
	52,280		Cia de Saneamento de Minas Gerais-COPASA		738
	1,543,600		Cia de Saneamento do Parana		5,424
	1,322,533		Cia Energetica de Minas Gerais		4,360
	153,900		Cia Energetica de Sao Paulo (Class B)		949
	9,404		Cia Energetica do Ceara		144
	224,160		Cia Paranaense de Energia		2,344
	1,459,700		CK Power PCL		137
	2,504,644		CLP Holdings Ltd		26,220
	275,235		CMS Energy Corp		12,314
	9,692,189		Colbun S.A.		2,153
	20,668		Connecticut Water Service, Inc		1,099
	315,162		Consolidated Edison, Inc		24,475
	30,770		Consolidated Water Co, Inc		358
	962,582		Contact Energy Ltd		3,413
	204,646		CPFL Energia S.A.		1,685
	1,742,000	e	CT Environmental Group Ltd		370
	15,101		Delta Natural Gas Co, Inc		458
	1,405,933		Dominion Resources, Inc		109,058
	436,233	g	DONG Energy A.S.		16,799

176

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	592,459		Drax Group plc	$	2,415
	1,004,128		DTE Energy Co		102,532
	2,563,707		DUET Group (ASE Exchange)		5,463
	1,494,379		Duke Energy Corp		122,554
	298,185	*	Dynegy, Inc		2,344
	1,675,496	*	E.CL SA		3,107
	2,167,640		E.ON AG.		17,233
	2,357		E1 Corp		116
	230,800		Eastern Water Resources Development and Management PCL		79
	873,959		Edison International		69,576
	912,405		EDP - Energias do Brasil S.A.		4,066
	163,732		El Paso Electric Co		8,268
	256,300		Electric Power Development Co		6,023
	1,316,323	e	Electricite de France		11,060
	22,300		Electricity Generating PCL		139
	77,500		Eletropaulo Metropolitana de Sao Paulo S.A.		345
	26,578		Elia System Operator S.A.		1,400
	33,846		Emera, Inc		1,196
	3,852,618		Empresa Nacional de Electricidad S.A.		2,899
	1,631,426		Endesa S.A.		38,289
	185,220		Enea S.A.		528
	10,343,994		Enel S.p.A.		48,673
	908,767		Energa S.A.		2,435
	4,931,428	e	Energias de Portugal S.A.		16,674
	1		Energix-Renewable Energies Ltd		0	^
	547,366	*,e	Energy World Corp Ltd		151
	36,354,766		Enersis Chile S.A.		4,024
	51,444,110		Enersis S.A.		10,683
	184,841		Engie Brasil Energia S.A.		2,088
	825,228		ENN Energy Holdings Ltd		4,649
	188,726		Entergy Corp		14,336
	217,300		Equatorial Energia S.A.		4,081
	21,500	e	eRex Co Ltd		254
	43,883		ERG S.p.A.		553
	164,672	e	ERM Power Ltd		165
	225,412		Eversource Energy		13,250
	38,511		EVN AG.		491
	2,423,276		Exelon Corp		87,189
	492,834		Federal Grid Co Unified Energy System JSC (ADR)		785
	202,348	*,m	Ferroglobe plc		0
	1,269,300		First Gen Corp		530
	686,210		First Philippine Holdings Corp		982
	605,899		FirstEnergy Corp		19,280
	424,805		Fortis, Inc		14,078
	404,402		Fortum Oyj		6,401
	673,641		GAIL India Ltd		3,911
	617,900		Gas Malaysia BHD		419
	343,254		Gas Natural SDG S.A.		7,508
	2,052,351		Gaz de France		29,003
	982,910		Genesis Energy Ltd		1,433
	75,918		Genie Energy Ltd		550

177

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	233,400		Global Power Synergy Co Ltd (Foreign)	$	229
	18,418	e	Global Water Resources, Inc		160
	2,076,871		Glow Energy PCL (Foreign)		4,986
	217,890		Great Plains Energy, Inc		6,367
	3,213,066		Guangdong Investments Ltd		4,582
	61,282		Gujarat Gas Co Ltd		725
	113,110		Gujarat State Petronet Ltd		281
	126,350		Hawaiian Electric Industries, Inc		4,209
	519,163		Hera S.p.A.		1,442
	2,633,052	e,g	HK Electric Investments & HK Electric Investments Ltd		2,427
	234,700		Hokkaido Electric Power Co, Inc		1,778
	130,242	e	Hokuriku Electric Power Co		1,267
	6,323,252		Hong Kong & China Gas Ltd		12,651
	1,606,319		Hong Kong Electric Holdings Ltd		13,856
	360,330	*	Huadian Energy Co Ltd		182
	6,590,000		Huadian Fuxin Energy Corp Ltd		1,476
	12,689,756	e	Huaneng Power International, Inc		8,479
	4,356,000		Huaneng Renewables Corp Ltd		1,509
	145,510	g	Hydro One Ltd		2,653
	2,041,600	e	Hyflux Ltd		832
	7,101,709		Iberdrola S.A.		50,741
	147,202		Idacorp, Inc		12,212
	71,572	*	Indiabulls Infrastructure and Power Ltd		4
	8,163		Indraprastha Gas Ltd		128
	1,948,543	e	Infraestructura Energetica ,NV SAB de C.V.		9,286
	1,852,088		Infratil Ltd		3,778
	93,108	e	Innergex Renewable Energy, Inc		1,001
	130,881	*	Innogy SE		4,933
	1,027,900		Inter Far East Energy Corp		93
	675,512		Interconexion Electrica S.A.		2,726
	441,246		Inversiones Aguas Metropolitanas S.A.		695
	1,476,522		Iride S.p.A.		3,065
	652,238	*	Italgas S.p.A		2,861
	439,243	e	Just Energy Income Fund		2,758
	10,900		K&O Energy Group, Inc		173
	1,869,000	e,g	Kangda International Environmental Co Ltd		474
	1,063,415	*	Kansai Electric Power Co, Inc		13,085
	9,435	*	Kenon Holdings Ltd		109
	175,000	*	Kong Sun Holdings Ltd		6
	16,720		Korea District Heating Corp		1,000
	415,886		Korea Electric Power Corp		17,311
	27,443		Korea Gas Corp		1,104
	1,809	m	KyungDong City Gas Co Ltd		117
	1,188,777	e	Kyushu Electric Power Co, Inc		12,703
	67,500		Light S.A.		426
	21,265		Mahanagar Gas Ltd		293
	1,717,000		Manila Water Co, Inc		1,054
	475,176		MDU Resources Group, Inc		13,006
	885,963	*	Meridian Energy Ltd		1,739
	68,545		MGE Energy, Inc		4,455
	56,123		Middlesex Water Co		2,074
	544,807		Mighty River Power Ltd		1,203
	124,911	e	National Fuel Gas Co		7,447

178

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,354,166		National Grid plc	$	67,930
	168,862		New Jersey Resources Corp		6,687
	2,317,167		NextEra Energy, Inc		297,455
	619,216		NiSource, Inc		14,731
	105,696	e	Northland Power Income Fund		1,952
	69,716		Northwest Natural Gas Co		4,120
	106,665		NorthWestern Corp		6,261
	633,203		NRG Energy, Inc		11,841
	408,069		NRG Yield, Inc (Class A)		7,096
	188,729	e	NRG Yield, Inc (Class C)		3,341
	2,767,323		NTPC Ltd		7,075
	589,491		OGE Energy Corp		20,620
	261,500	e	Okinawa Electric Power Co, Inc		6,222
	162,360		ONE Gas, Inc		10,976
	144,168		Ormat Technologies, Inc		8,229
	0		Ormat Technologies, Inc (Foreign)		0	^
	1,712,188	e	Osaka Gas Co Ltd		6,529
	84,096		Otter Tail Corp		3,187
	292,921	*,e	Pampa Energia S.A. (ADR)		15,882
	292,972	e	Pattern Energy Group, Inc		5,898
	601,881		Pennon Group plc		6,649
	899,891		Petronas Gas BHD		4,018
	2,957,823		PG&E Corp		196,281
	307,634		Pinnacle West Capital Corp		25,651
	255,170		PNM Resources, Inc		9,441
	28,379,894		PNOC Energy Development Corp		3,403
	874,214		Polska Grupa Energetyczna S.A.		2,511
	176,526		Portland General Electric Co		7,841
	1,610,385		PPL Corp		60,212
	18,907,532		PT Perusahaan Gas Negara Persero Tbk		3,590
	2,073,385		PTC India Ltd		2,982
	93,187	*	Public Power Corp		291
	621,999		Public Service Enterprise Group, Inc		27,586
	55,620		Qatar Electricity & Water Co		3,361
	500,000		Ratchaburi Electricity Generating Holding PCL (ADR)		731
	328,379		Red Electrica Corp S.A.		6,296
	213,211	e	Redes Energeticas Nacionais S.A.		641
	189,558		Reliance Energy Ltd		1,660
	89,437		Rubis		8,757
	2,466,414		RusHydro PJSC (ADR)		3,996
	384,264	*	RWE AG.		6,368
	35,005		Saeta Yield S.A.		319
	2,144		Samchully Co Ltd		205
	150,500		Scan Inter PCL		37
	137,095		SCANA Corp		8,959
	48,873	g	Scatec Solar ASA		218
	915,390		Scottish & Southern Energy plc		16,917
	49,004		Sechilienne-Sidec		866
	1,502,816		Sempra Energy		166,061
	243,489		Severn Trent plc		7,263
	155,700	*	Shanghai Lingyun Industries Development Co Ltd		140
	253,500	e	Shikoku Electric Power Co, Inc		2,793

179

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	127,100		Shizuoka Gas Co Ltd	$	866
	1,710,980	*	SIIC Environment Holdings Ltd		679
	55,369		SJW Corp		2,670
	128,000	*,m	Sound Global Ltd		0	^
	204,490		South Jersey Industries, Inc		7,290
	1,342,799		Southern Co		66,845
	200,321		Southwest Gas Corp		16,609
	17,197	e	Spark Energy, Inc		549
	1,473,931		Spark Infrastructure Group		2,669
	388,600		SPCG PCL		241
	104,909		Spire, Inc		7,081
	735,317		Suez Environnement S.A.		11,605
	365,289	e	Superior Plus Corp		3,543
	326,450		Taiwan Cogeneration Corp		252
	384,300		Taliworks Corp BHD		140
	2,142,668		Tata Power Co Ltd		2,982
	1,952,097		Tauron Polska Energia S.A.		1,668
	146,706		Telecom Plus plc		2,200
	4,402,641		Tenaga Nasional BHD		13,644
	38,451		Terna Energy S.A.		118
	1,194,655		Terna Rete Elettrica Nazionale S.p.A.		5,922
	178,821		TerraForm Global, Inc		858
	235,779		TerraForm Power, Inc		2,917
	521,900		Thai Solar Energy PCL		85
	1,032,400		Thai Tap Water Supply PCL		318
	248,000	e	Tianjin Development Hldgs Ltd		126
	275,876		Toho Gas Co Ltd		1,957
	322,994		Tohoku Electric Power Co, Inc		4,387
	1,935,919	*	Tokyo Electric Power Co, Inc		7,588
	2,127,813		Tokyo Gas Co Ltd		9,718
	209,731		Torrent Power Ltd		744
	788,103		Towngas China Co Ltd		445
	297,815		TransAlta Corp		1,751
	217,561	e	TransAlta Renewables, Inc		2,577
	230,515		UGI Corp		11,387
	243,647	*	Uniper SE		4,095
	2,764,000	*,e	United Photovoltaics Group Ltd		331
	556,711		United Utilities Group plc		6,932
	35,109		Unitil Corp		1,581
	31,855		VA Tech Wabag Ltd		334
	30,355	e	Valener, Inc		499
	25,000		Vanguard FTSE Developed Markets ETF		982
	130,586		Vectren Corp		7,654
	633,719		Veolia Environnement		11,883
	47,846	*,e	Vivint Solar, Inc		134
	237,224		WEC Energy Group, Inc		14,383
	182,180		Westar Energy, Inc		9,887
	99,578		WGL Holdings, Inc		8,218
	2,646,213		Xcel Energy, Inc		117,624
	24,396		York Water Co		855
	3,375,285		YTL Corp BHD		1,136
	2,776,550		YTL Power International BHD		954
	203,000	e	Yunnan Water Investment Co Ltd		105

180

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	637,557	*	Zorlu Enerji Elektrik Uretim AS	$	203
			TOTAL UTILITIES		3,199,554
			TOTAL COMMON STOCKS		116,729,535
			(Cost $101,953,442)
PURCHASED OPTIONS - 0.0%
BANKS - 0.0%
	3,000		Bank of America Corp		2
			TOTAL BANKS		2
DIVERSIFIED FINANCIALS - 0.0%
	2,500		E*TRADE Financial Corp		1
	2,000		S&P 500 Index		160
			TOTAL DIVERSIFIED FINANCIALS		161
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	1,000		Cigna Corp		1
	2,000		McKesson Corp		9
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		10
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	2,000		Alexion Pharmaceuticals, Inc		23
	500		Incyte Corp		0	^
	500		Seattle Genetics, Inc		3
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		26
RETAILING - 0.0%
	1,500		Amazon.com, Inc		154
			TOTAL RETAILING		154
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	1,000		Apple, Inc		4
	2,000		Apple, Inc		19
	2,000		Apple, Inc		37
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		60
			TOTAL PURCHASED OPTIONS		413
			(Cost $332)
PREFERRED STOCKS - 0.0%
BANKS - 0.0%
	9,220,883	*	ITAUSA Investimentos Itau PR		27,981
			TOTAL BANKS		27,981
CAPITAL GOODS - 0.0%
	4,779	e	Villeroy & Boch AG		94
			TOTAL CAPITAL GOODS		94
DIVERSIFIED FINANCIALS - 0.0%
	300,000		Daishin Securities Co Ltd Pref 2		1,932
			TOTAL DIVERSIFIED FINANCIALS		1,932

181

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
MATERIALS - 0.0%
	292,716	*,m	UPL Ltd	$	54
			TOTAL MATERIALS		54
REAL ESTATE - 0.0%
	8,497,223	*,m	Ayala Land, Inc (Preferred B)		17
			TOTAL REAL ESTATE		17
			TOTAL PREFERRED STOCKS		30,078
			(Cost $30,783)
RIGHTS / WARRANTS - 0.0%
AUTOMOBILES & COMPONENTS - 0.0%
	350,639		Tata Motors Ltd (DVR)		1,523
			TOTAL AUTOMOBILES & COMPONENTS		1,523
BANKS - 0.0%
	270,556	e	Deutsche Bank AG.		639
	1,743,509	e	Deutsche Bank AG.		4,166
	6,308	m	Doha Bank QSC		11
	135,500		Kasikornbank PCL - NVDR		746
			TOTAL BANKS		5,562
CAPITAL GOODS - 0.0%
	304,956	e,m	Abengoa S.A.		3
	53,875,000	m	Landing International Development Ltd		28
			TOTAL CAPITAL GOODS		31
CONSUMER DURABLES & APPAREL - 0.0%
	14,849,207	m	C C Land Holdings Ltd		115
			TOTAL CONSUMER DURABLES & APPAREL		115
DIVERSIFIED FINANCIALS - 0.0%
	11,467	m	Emergent Capital, Inc		0
			TOTAL DIVERSIFIED FINANCIALS		0
ENERGY - 0.0%
	244,517		Ezion Holdings Ltd		15
			TOTAL ENERGY		15
FOOD & STAPLES RETAILING - 0.0%
	135,947	m	Safeway Casa Ley		0
	135,947	m	Safeway PDC LLC		0
			TOTAL FOOD & STAPLES RETAILING		0
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	190,191		Community Health Systems, Inc		2
	576,170		Life Healthcare Group Holdings Ltd		193
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		195
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	153	e	Asterias Biotherapeutics, Inc		0	^
	2,121	e	BioTime, Inc		1
	55,620	m	Forest Laboratories, Inc CVR		53
	17,790	m	Omthera Pharmaceuticals, Inc		11
	228,016	m	Trius Therapeutics, Inc		0
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		65

182

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
REAL ESTATE - 0.0%
	4,761,352	m	BGP Holdings plc	$	0
			TOTAL REAL ESTATE		0
SOFTWARE & SERVICES - 0.0%
	73,716		B2W Cia Digital		35
	141,205	m	Gerber Scientific, Inc		0
			TOTAL SOFTWARE & SERVICES		35
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	185,078		Laird plc		161
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		161
TRANSPORTATION - 0.0%
	2		Thoresen Thai Agencies PCL		0	^
			TOTAL TRANSPORTATION		0	^
			TOTAL RIGHTS / WARRANTS (Cost $2,819)		7,702

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE
SHORT-TERM INVESTMENTS - 2.9%
GOVERNMENT AGENCY DEBT - 0.0%
$	15,800,000		Federal Home Loan Bank (FHLB)		0.700	%	04/05/17	15,799
			TOTAL GOVERNMENT AGENCY DEBT					15,799
TREASURY DEBT - 0.5%
	3,200,000		United States Treasury Bill		0.490		04/06/17	3,200
	82,600,000	d	United States Treasury Bill		0.445-0.729		04/13/17	82,583
	190,400,000	d	United States Treasury Bill		0.468-0.715		04/20/17	190,334
	81,300,000		United States Treasury Bill		0.711-0.741		04/27/17	81,261
	50,000,000	d	United States Treasury Bill		0.523		05/04/17	49,971
	50,000,000	d	United States Treasury Bill		0.701		05/18/17	49,955
	50,000,000		United States Treasury Bill		0.741		06/29/17	49,910
	50,000,000		United States Treasury Bill		0.691		07/06/17	49,901
	33,400,000		United States Treasury Bill		0.767		07/13/17	33,329
			TOTAL TREASURY DEBT					590,444
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.4%
CERTIFICATE OF DEPOSIT - 0.5%
	150,000,000		Bank of Montreal		0.750		04/03/17	150,000
	150,000,000		Bank of Nova Scotia		0.820		04/03/17	150,000

183

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	RATE			MATURITY DATE	VALUE (000)
$	150,000,000		CIBC Bank and Trust Company		0.820	%	04/03/17	$	150,000
	150,000,000		National Australia Bank Ltd		0.790		04/03/17		150,000
			TOTAL CERTIFICATE OF DEPOSIT						600,000
GOVERNMENT AGENCY DEBT - 0.0%
	58,000,000		Federal National Mortgage Association (FNMA)		0.010		04/03/17		58,000
			TOTAL GOVERNMENT AGENCY DEBT						58,000
REPURCHASE AGREEMENT - 1.8%
	300,000,000	r	Calyon		0.800		04/03/17		300,000
	72,000,000	s	Citigroup		0.790		04/03/17		72,000
	50,000,000	t	Citigroup		0.800		04/07/17		50,000
	100,000,000	u	Citigroup		0.790		04/07/17		100,000
	140,000,000	v	JP Morgan		0.760		04/03/17		140,000
	32,115,000	w	Merrill Lynch		0.820		04/03/17		32,115
	285,000,000	x	Nomura		0.820		04/03/17		285,000
	260,000,000	y	Royal Bank of Scotland		0.780		04/03/17		260,000
	300,000,000	z	Royal Bank of Scotland		0.770		04/06/17		300,000
	400,000,000	aa	Royal Bank of Scotland		0.780		04/07/17		400,000
	100,000,000	ab	Societe Generale		0.780		04/07/17		100,000
			TOTAL REPURCHASE AGREEMENT						2,039,115
VARIABLE RATE SECURITIES - 0.1%
	85,125,909	i	SLM Student Loan Trust		1.078		01/25/19		84,763
			TOTAL VARIABLE RATE SECURITIES						84,763
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						2,781,878
			TOTAL SHORT-TERM INVESTMENTS						3,388,121
			(Cost $3,388,494)
			TOTAL INVESTMENTS - 102.1%						120,156,579
			(Cost $105,376,638)
			OTHER ASSETS & LIABILITIES, NET - (2.1)%						(2,468,988	)
			NET ASSETS - 100.0%					$	117,687,591

Abbreviation(s):

ADR      American Depositary Receipt

CVR       Contingent Value Right

DVR      Differential Voting Rights

ETF       Exchange Traded Fund

GDR      Global Depositary Receipt

NVDR   Non Voting Depository Receipt

REIT     Real Estate Investment Trust

SPDR    Standard & Poor’s Depository Receipts

184

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

*	Non-income producing
^	Amount represents less than $1,000.
b	In bankruptcy
d	All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $2,690,116,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/17, the aggregate value of these securities was $492,812,000 or 0.4% of net assets.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
m	Indicates a security that has been deemed illiquid.
n	All or a portion of these securities have been segregated by the custodian to cover requirements on open written options contracts.
r	Agreement with Calyon, 0.80% dated 3/31/17 to be repurchased at $300,000,000 on 4/03/17, collateralized by U.S. Government Agency Securities valued at $306,000,000.
s	Agreement with Citigroup, 0.79% dated 3/31/17 to be repurchased at $72,000,000 on 4/03/17, collateralized by U.S. Government Agency Securities valued at $73,440,000.
t	Agreement with Citigroup, 0.80% dated 3/31/17 to be repurchased at $50,000,000 on 4/07/17, collateralized by U.S. Government Agency Securities valued at $51,001,000.
u	Agreement with Citigroup, 0.79% dated 3/31/17 to be repurchased at $100,000,000 on 4/07/17, collateralized by U.S. Government Agency Securities valued at $102,000,000.
v	Agreement with JP Morgan, 0.76% dated 3/31/17 to be repurchased at $140,000,000 on 4/03/17, collateralized by U.S. Government Agency Securities valued at $142,802,000.
w	Agreement with Merrill Lynch, 0.82% dated 3/31/17 to be repurchased at $32,115,000 on 4/03/17, collateralized by U.S. Government Agency Securities valued at $32,757,000.
x	Agreement with Nomura, 0.82% dated 3/31/17 to be repurchased at $285,000,000 on 4/03/17, collateralized by U.S. Government Agency Securities valued at $290,700,000.
y	Agreement with Royal Bank of Scotland, 0.78% dated 3/31/17 to be repurchased at $260,000,000 on 4/03/17, collateralized by U.S. Government Agency Securities valued at $265,203,000.
z	Agreement with Royal Bank of Scotland, 0.77% dated 3/30/17 to be repurchased at $300,000,000 on 4/06/17, collateralized by U.S. Government Agency Securities valued at $360,003,000.
aa	Agreement with Royal Bank of Scotland, 0.78% dated 3/31/17 to be repurchased at $400,000,000 on 4/07/17, collateralized by U.S. Government Agency Securities valued at $408,004,000.
ab	Agreement with Societe Generale, 0.78% dated 3/31/17 to be repurchased at $100,000,000 on 4/07/17, collateralized by U.S. Government Agency Securities valued at $102,000,000.
	Cost amounts are in thousands.

185

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)

March 31, 2017

Country	Value (000)		% of total portfolio
DOMESTIC
UNITED STATES	$	83,946,425		69.8	%
TOTAL DOMESTIC		83,946,425		69.8
FOREIGN
ARGENTINA		28,470		0.0
AUSTRALIA		1,554,101		1.3
AUSTRIA		220,298		0.2
BELGIUM		196,602		0.2
BERMUDA		119,350		0.1
BRAZIL		671,341		0.6
CANADA		2,595,760		2.2
CAYMAN ISLANDS		5,131		0.0
CHILE		120,026		0.1
CHINA		2,267,263		1.9
COLOMBIA		50,275		0.0
CYPRUS		60		0.0
CZECH REPUBLIC		30,736		0.0
DENMARK		402,092		0.3
EGYPT		18,164		0.0
FAROE ISLANDS		3,918		0.0
FINLAND		257,692		0.2
FRANCE		2,736,534		2.3
GEORGIA		5,438		0.0
GERMANY		2,164,706		1.8
GREECE		30,980		0.0
GUERNSEY, C.I.		320		0.0
HONG KONG		901,572		0.8
HUNGARY		25,059		0.0
INDIA		846,438		0.7
INDONESIA		189,302		0.2
IRELAND		286,080		0.2
ISLE OF MAN		7,854		0.0
ISRAEL		196,782		0.2
ITALY		708,774		0.6
JAPAN		5,874,253		4.9
JERSEY, C.I.		13,363		0.0
JORDAN		3,602		0.0
KOREA, REPUBLIC OF		1,264,355		1.1
LUXEMBOURG		116,635		0.1
MACAU		11,526		0.0
MALAYSIA		187,755		0.2
MALTA		7,851		0.0
MEXICO		300,210		0.2
MONACO		7,776		0.0
NETHERLANDS		1,227,962		1.0
NEW ZEALAND		94,878		0.1
NORWAY		221,019		0.2
PANAMA		14,551		0.0
PERU		38,460		0.0
PHILIPPINES		115,672		0.1

186

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

Country	Value (000)		% of total portfolio
POLAND	$	89,695		0.1	%
PORTUGAL		44,182		0.0
PUERTO RICO		29,395		0.0
QATAR		48,210		0.0
ROMANIA		2,412		0.0
RUSSIA		293,401		0.2
SINGAPORE		345,266		0.3
SOUTH AFRICA		574,532		0.5
SPAIN		635,588		0.5
SWEDEN		552,513		0.5
SWITZERLAND		1,852,198		1.5
TAIWAN		1,267,253		1.1
THAILAND		200,823		0.2
TURKEY		96,524		0.1
UNITED ARAB EMIRATES		66,158		0.1
UNITED KINGDOM		3,947,064		3.3
URUGUAY		23,954		0.0
TOTAL FOREIGN		36,210,154		30.2
TOTAL PORTFOLIO	$	120,156,579		100.0	%

187

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2017

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 98.9%
ARGENTINA - 0.0%
	6,101	e	Mercadolibre, Inc	$	1,290
	80,085	*	Pampa Energia S.A. (ADR)		4,342
			TOTAL ARGENTINA		5,632
AUSTRALIA - 1.6%
	156,934		AGL Energy Ltd		3,161
	703,482	e	Alumina Ltd		963
	385,331		Amcor Ltd		4,432
	979,392		AMP Ltd		3,875
	137,096		APA Group		938
	27,190		Aristocrat Leisure Ltd		373
	321,889	*,e,m	Arrium Ltd		2
	90,882		AusNet Services		117
	1,122,181	e	Australia & New Zealand Banking Group Ltd		27,247
	67,313		Australian Stock Exchange Ltd		2,596
	19,293		Bank of Queensland Ltd		179
	24,301		Bendigo Bank Ltd		225
	1,766,606		BHP Billiton Ltd		32,128
	575,767	e	BHP Billiton Ltd (ADR)		20,912
	390,643		BHP Billiton plc		6,025
	126,480		BlueScope Steel Ltd		1,186
	58,122		Boral Ltd		259
	296,136		Brambles Ltd		2,115
	13,216		Caltex Australia Ltd		298
	81,907		Challenger Financial Services Group Ltd		785
	38,129		CIMIC Group Ltd		1,046
	133,410		Coca-Cola Amatil Ltd		1,103
	7,083		Cochlear Ltd		732
	547,218		Commonwealth Bank of Australia		35,884
	108,145		Computershare Ltd		1,161
	18,315		Crown Resorts Ltd		165
	124,344		CSL Ltd		11,905
	89,472		Dexus Property Group		668
	44,392	e	Domino’s Pizza Enterprises Ltd		1,971
	1,400,000	e	Downer EDI Ltd		6,196
	121,024		DUET Group (ASE Exchange)		258
	71,877		DuluxGroup Ltd		358
	2,648	e	Flight Centre Travel Group Ltd		58
	2,482,739		Fortescue Metals Group Ltd		11,826
	150,406		GPT Group (ASE)		592
	26,029	e	Harvey Norman Holdings Ltd		90
	87,163		Healthscope Ltd		151
	183,294		Incitec Pivot Ltd		526
	647,249		Insurance Australia Group Ltd		2,991
	178,623		Lend Lease Corp Ltd		2,124

188

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	89,942		Macquarie Goodman Group	$	532
	68,363		Macquarie Group Ltd		4,710
	136,110		Medibank Pvt Ltd		293
	983,351		Mirvac Group		1,645
	505,713		National Australia Bank Ltd		12,877
	341,673		Newcrest Mining Ltd		5,824
	65,902	e	Oil Search Ltd		363
	85,762		Orica Ltd		1,153
	438,822		Origin Energy Ltd		2,360
	1,689,414		Orora Ltd		3,820
	72,671		Oxiana Ltd		435
	3,596		Perpetual Trustees Australia Ltd		143
	102,627		Qantas Airways Ltd		305
	456,087		QBE Insurance Group Ltd		4,490
	98,681	e	QR National Ltd		396
	11,092		Ramsay Health Care Ltd		592
	2,654		REA Group Ltd		120
	356,166	*	Santos Ltd		1,034
	1,817,236		Scentre Group		5,958
	15,016		Seek Ltd		183
	43,666		Shopping Centres Australasia Property Group		75
	56,714		Sonic Healthcare Ltd		958
	913,937		South32 Ltd		1,927
	879,710		Stockland Trust Group		3,119
	433,711		Suncorp-Metway Ltd		4,377
	132,328	e	Sydney Airport		684
	40,228		Tabcorp Holdings Ltd		146
	73,132		Tattersall’s Ltd		247
	1,514,213		Telstra Corp Ltd		5,388
	17,220	e	TPG Telecom Ltd		92
	309,437		Transurban Group (ASE)		2,758
	35,311		Treasury Wine Estates Ltd		330
	258,800		Vicinity Centres		560
	173,990	*	Virgin Australia Holdings Ltd		25
	25,983	e	Vocus Communications Ltd		86
	280,707		Wesfarmers Ltd		9,664
	547,502		Westfield Corp		3,714
	1,037,025	e	Westpac Banking Corp		27,722
	165,217		Woodside Petroleum Ltd		4,048
	263,141		Woolworths Ltd		5,328
	14,169	*,e	WorleyParsons Ltd		119
			TOTAL AUSTRALIA		306,221
AUSTRIA - 0.3%
	247,300		ams AG.		13,359
	125,274		Andritz AG.		6,265
	184,323		Erste Bank der Oesterreichischen Sparkassen AG.		6,002
	65,989	*,e,m	Immoeast AG.		0
	11,479		OMV AG.		452
	8,229	*	Raiffeisen International Bank Holding AG.		186
	68,871		Voestalpine AG.		2,709
	1,503,453		Wienerberger AG.		31,855
			TOTAL AUSTRIA		60,828

189

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
BELGIUM - 0.1%
	14,963		Ageas	$	584
	116,078		Anheuser-Busch InBev S.A.		12,719
	2,712		Befimmo SCA Sicafi		154
	11,684		Belgacom S.A.		366
	1,739		Cofinimmo		198
	4,777		Colruyt S.A.		235
	63,522	*	Fagron NV		813
	6,239		Groupe Bruxelles Lambert S.A.		566
	19,245		KBC Groep NV		1,276
	5,770		Solvay S.A.		704
	3,982	*	Telenet Group Holding NV		237
	9,556		UCB S.A.		741
	7,123		Umicore		406
			TOTAL BELGIUM		18,999
BERMUDA - 0.1%
	148,443		Marvell Technology Group Ltd		2,265
	26,652		RenaissanceRe Holdings Ltd		3,855
	133,871	*	Third Point Reinsurance Ltd		1,620
	90,438		XL Group Ltd		3,605
			TOTAL BERMUDA		11,345
BRAZIL - 0.5%
	1,136,366		Banco Itau Holding Financeira S.A.		13,757
	484,600		Cia Brasileira de Distribuicao Grupo Pao de Acucar		9,303
	345,000		Cosan SA Industria e Comercio		4,283
	1,070,000		Cyrela Brazil Realty S.A.		4,525
	1,400,073		Itau Unibanco Banco Multiplo S.A. (ADR)		16,899
	480,000		Localiza Rent A Car		6,389
	895,300	*	Petroleo Brasileiro S.A.		4,333
	7,767,079		Via Varejo S.A.		25,728
			TOTAL BRAZIL		85,217
CANADA - 3.3%
	24,918		Agnico-Eagle Mines Ltd		1,057
	48,695	e	Agrium, Inc		4,647
	551,810		Alimentation Couche Tard, Inc		24,930
	8,192	e	AltaGas Income Trust		190
	123,411	e	ARC Resources Ltd		1,763
	64,514		Atco Ltd		2,509
	372,571	*	Bank of Montreal		27,828
	413,106	e	Bank of Nova Scotia		24,168
	190,963		Barrick Gold Corp (Canada)		3,627
	12,977		BCE, Inc		575
	24,995	*,e	Blackberry Ltd (New)		194
	11,222		Boardwalk REIT		398
	787,710	*	Bombardier, Inc		1,208
	150,487		Brookfield Asset Management, Inc		5,483
	13,632		CAE, Inc		208
	52,356	e	Cameco Corp (Toronto)		579
	13,905	*,e	Canada Goose Holdings, Inc		222

190

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	4,016		Canadian Apartment Properties REIT	$	101
	119,889		Canadian Imperial Bank of Commerce/Canada		10,338
	189,323		Canadian National Railway Co		13,974
	741,100	*	Canadian Natural Resources Ltd (Canada)		24,264
	74,584		Canadian Pacific Railway Ltd (Toronto)		10,956
	2,431		Canadian Real Estate Investment Trust		89
	58,100		Canadian Tire Corp Ltd		6,902
	6,470		Canadian Utilities Ltd		189
	220,617		Cara Operations Ltd		4,396
	3,494		CCL Industries		762
	390,000	*	Celestica, Inc		5,672
	2,462,894		Cenovus Energy, Inc (Toronto)		27,873
	11,047	*	CGI Group, Inc		529
	92,676	e	CI Financial Corp		1,842
	6,582		Constellation Software, Inc		3,234
	27,159	e	Crescent Point Energy Corp		293
	130,000	*	Descartes Systems Group, Inc		2,979
	347,762		Dollarama, Inc		28,820
	33,570		Eldorado Gold Corp		115
	302,314	e	Element Financial Corp		2,798
	2,503		Emera, Inc		88
	57,571		Empire Co Ltd		880
	56,587		Enbridge, Inc		2,368
	390,917		Enbridge, Inc		16,376
	287,177		EnCana Corp		3,364
	1,142		Fairfax Financial Holdings Ltd		520
	8,446		Finning International, Inc		158
	10,183		First Capital Realty, Inc		153
	64,899		First Quantum Minerals Ltd		690
	22,271		Fortis, Inc		738
	68,135		Franco-Nevada Corp		4,464
	55,347		George Weston Ltd		4,829
	103,983		Gildan Activewear, Inc		2,809
	52,164		Goldcorp, Inc		761
	67,501		Great-West Lifeco, Inc		1,870
	21,321		H&R Real Estate Investment Trust		370
	17,831	*	Husky Energy, Inc		201
	8,143	g	Hydro One Ltd		148
	21,894	e	IGM Financial, Inc		653
	117,188		Imperial Oil Ltd		3,571
	28,033		Industrial Alliance Insurance and Financial Services, Inc		1,215
	83,912		Intact Financial Corp		5,968
	17,737		Inter Pipeline Ltd		374
	28,986		Jean Coutu Group PJC, Inc		456
	109,454		Keyera Corp		3,211
	185,298	*	Kinaxis, Inc		10,335
	62,323	*	Kinross Gold Corp		220
	132,539	e	Linamar Corp		6,029
	70,639		Loblaw Cos Ltd		3,833
	124,590	*	Magna International, Inc		5,377
	160,000		Magna International, Inc (Class A)		6,906
	486,762		Manulife Financial Corp		8,635
	3,664,735	*	MEG Energy Corp		18,574

191

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	38,754		Methanex Corp	$	1,816
	354,236		Metro, Inc		10,881
	66,836		National Bank of Canada		2,806
	9,869		Onex Corp		708
	110,223		Open Text Corp		3,746
	73,804		Pembina Pipeline Income Fund		2,339
	112,000	e	Peyto Exploration & Development Corp		2,303
	95,315	e	Potash Corp of Saskatchewan		1,628
	104,493		Power Corp Of Canada		2,455
	143,030		Power Financial Corp		3,783
	10,477	e	PrairieSky Royalty Ltd		221
	156,715		Restaurant Brands International, Inc		8,735
	18,797		Restaurant Brands International, Inc (Toronto)		1,047
	47,319		RioCan Real Estate Investment Trust		932
	99,006		Rogers Communications, Inc (Class B)		4,378
	471,532	*	Royal Bank of Canada		34,355
	31,031		Saputo, Inc		1,071
	169,802	*	Seven Generations Energy Ltd		3,103
	20,905		Shaw Communications, Inc (B Shares)		433
	89,200	*	Shopify, Inc		6,084
	257,707		Silver Wheaton Corp		5,370
	14,933		Smart Real Estate Investment Trust		367
	7,720		SNC-Lavalin Group, Inc		303
	440,336	*,g	Spin Master Corp		12,811
	108,992		Sun Life Financial, Inc		3,980
	1,634,241		Suncor Energy, Inc		50,176
	417,629		Teck Cominco Ltd		9,132
	100,784		Teck Resources Ltd		2,207
	42,456		TELUS Corp		1,378
	352,941	e	TFI International, Inc		8,241
	795,688		Toronto-Dominion Bank		39,855
	244,811	*	Tourmaline Oil Corp		5,458
	275,322	e	TransCanada Corp		12,706
	49,128	*	Turquoise Hill Resources Ltd		150
	86,782	e	Veresen, Inc		959
	5,643	e	Vermilion Energy, Inc		212
	27,394		Waste Connections, Inc		2,417
	63,103		West Fraser Timber Co Ltd		2,639
	180,000		WestJet Airlines Ltd		3,086
	44,606	e	Yamana Gold, Inc		123
			TOTAL CANADA		616,250
CHILE - 0.0%
	31,243		Antofagasta plc		326
			TOTAL CHILE		326
CHINA - 0.6%
	356,294	*	Alibaba Group Holding Ltd (ADR)		38,419
	15,471	*	Baidu, Inc (ADR)		2,669
	9,579,000	*,e,m	China Animal Healthcare Ltd		12
	1,238,000		China Aoyuan Property Group Ltd		373
	7,346,800		China Everbright International Ltd		9,894
	1,300,255	*	China New Town Development Co Ltd		71

192

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,494,995		China Overseas Land & Investment Ltd	$	4,273
	203,000		CNOOC Ltd		243
	4,000,000	e	Great Wall Motor Co Ltd		4,559
	84,259	*	JD.com, Inc (ADR)		2,621
	2,397,612		Sino-Ocean Land Holdings Ltd		1,127
	8,000,000		Sinopec Shanghai Petrochemical Co Ltd		4,440
	716,000		Sunny Optical Technology Group Co Ltd		5,240
	907,300		Tencent Holdings Ltd		26,139
	91,949		Yangzijiang Shipbuilding		74
	357,165	*,e	ZTO Express Cayman, Inc (ADR)		4,675
			TOTAL CHINA		104,829
CZECH REPUBLIC - 0.0%
	1,134,176	*,g	Moneta Money Bank AS.		3,842
			TOTAL CZECH REPUBLIC		3,842
DENMARK - 0.9%
	292		AP Moller - Maersk AS (Class A)		471
	494		AP Moller - Maersk AS (Class B)		818
	8,110	*	Carlsberg AS (Class B)		749
	7,358		Christian Hansen Holding		472
	9,203		Coloplast AS		719
	848,220		Danske Bank AS		28,921
	85,000		Dfds A.S.		4,670
	1,085,355	g	DONG Energy A.S.		41,796
	221,360		DSV AS		11,449
	6,415	*	Genmab AS		1,234
	82,850	e	GN Store Nord		1,934
	619,453	*	H Lundbeck AS		28,751
	12,563		ISS A.S.		475
	918,171		Novo Nordisk AS		31,529
	17,508		Novozymes AS		694
	8,451		Pandora AS		935
	180,000		Sydbank AS		6,239
	64,834		TDC AS		334
	8,268		Tryg A.S.		150
	16,831		Vestas Wind Systems AS		1,369
	8,202	*	William Demant Holding A.S.		171
			TOTAL DENMARK		163,880
FINLAND - 0.5%
	178,007		Amer Sports Oyj (A Shares)		4,025
	10,767		Elisa Oyj (Series A)		381
	34,607	e	Fortum Oyj		548
	352,600		Huhtamaki Oyj		12,548
	25,908		Kone Oyj (Class B)		1,138
	8,809	e	Metso Oyj		266
	10,038		Neste Oil Oyj		392
	3,717,592		Nokia Oyj (Turquoise)		19,981
	8,984		Nokian Renkaat Oyj		375
	117,653		Orion Oyj (Class B)		6,137
	1,053,400	e	Outokumpu Oyj		10,271
	683,679		Sampo Oyj (A Shares)		32,441

193

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	41,491		Stora Enso Oyj (R Shares)	$	491
	40,514	e	UPM-Kymmene Oyj		951
	300,000		Valmet Corp		4,657
	11,215		Wartsila Oyj (B Shares)		600
			TOTAL FINLAND		95,202
FRANCE - 3.5%
	483,683		Accor S.A.		20,118
	2,293		Aeroports de Paris		283
	29,699		Air Liquide		3,391
	12,075	*	Alstom RGPT		361
	96,000	e,g	Amundi S.A.		5,662
	442,180		Arkema		43,529
	6,711		Atos Origin S.A.		829
	378,383		AXA S.A.		9,776
	498,393		BNP Paribas		33,165
	67,318		Bollore		261
	76,054		Bouygues S.A.		3,091
	20,490		Bureau Veritas S.A.		432
	12,509		Cap Gemini S.A.		1,155
	43,716		Carrefour S.A.		1,030
	4,171		Casino Guichard Perrachon S.A.		233
	4,168		Christian Dior S.A.		968
	12,929		CNP Assurances		263
	753,695		Compagnie de Saint-Gobain		38,670
	150,971		Credit Agricole S.A.		2,041
	175		Dassault Aviation S.A.		222
	9,919		Dassault Systemes S.A.		858
	15,942		Edenred		376
	4,577		Eiffage S.A.		358
	27,045	e	Electricite de France		227
	29,092		Essilor International S.A.		3,532
	3,085		Eurazeo		203
	220,965		European Aeronautic Defence and Space Co		16,851
	13,247		Eutelsat Communications		295
	539,994		Faurecia		25,638
	2,582		Fonciere Des Regions		215
	998,262		France Telecom S.A.		15,499
	544,317		Gaz de France		7,692
	3,163		Gecina S.A.		429
	589,627		Groupe Danone		40,109
	36,296		Groupe Eurotunnel S.A.		365
	2,018		Hermes International		955
	6,403		Icade		468
	1,971		Iliad S.A.		440
	2,788		Imerys S.A.		236
	4,299		Ingenico		406
	190,441		JC Decaux S.A.		6,689
	5,799		Kering		1,499
	36,669		Klepierre		1,425
	8,372		Lagardere S.C.A.		246
	20,669		Legrand S.A.		1,244
	184,190		L’Oreal S.A.		35,427

194

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	130,588	e	LVMH Moet Hennessy Louis Vuitton S.A.	$	28,702
	100,693		Michelin (C.G.D.E.) (Class B)		12,236
	69,875		Natixis		430
	6,522	*	Numericable-SFR  SAS		205
	16,348		Pernod-Ricard S.A.		1,933
	917,156	*	Peugeot S.A.		18,433
	14,711		Publicis Groupe S.A.		1,027
	31,786		Remy Cointreau S.A.		3,110
	258,079		Renault S.A.		22,420
	496,252		Rexel S.A.		8,991
	23,850		Safran S.A.		1,780
	305,076		Sanofi-Aventis		27,577
	658,350		Schneider Electric S.A.		48,368
	142,598		SCOR SE		5,389
	1,707		SEB S.A.		238
	2,124		Societe BIC S.A.		265
	403,711		Societe Generale		20,454
	7,188		Sodexho Alliance S.A.		845
	323,125		Suez Environnement S.A.		5,100
	274,952		Teleperformance		29,686
	8,064		Thales S.A.		779
	970,680		Total S.A.		49,081
	18,666	e	Unibail-Rodamco		4,352
	390,745		Valeo S.A.		25,993
	198,308		Veolia Environnement		3,719
	108,794		Vinci S.A.		8,639
	78,689		Vivendi Universal S.A.		1,526
	2,187		Wendel		277
	14,964		Zodiac S.A.		374
			TOTAL FRANCE		659,091
GERMANY - 2.6%
	96,875		Adidas-Salomon AG.		18,429
	115,001		Allianz AG.		21,327
	280,710	e	Alstria Office REIT-AG.		3,432
	3,329		Axel Springer AG.		184
	308,720		BASF SE		30,568
	386,715		Bayer AG.		44,555
	26,570		Bayerische Motoren Werke AG.		2,424
	2,738		Bayerische Motoren Werke AG. (Preference)		215
	226,481		Beiersdorf AG.		21,432
	700,000		Borussia Dortmund GmbH & Co KGaA		4,252
	11,937		Brenntag AG.		669
	1,891,371		Commerzbank AG.		17,136
	63,101		Continental AG.		13,835
	86,998	g	Covestro AG.		6,702
	144,651		Daimler AG. (Registered)		10,675
	39,886		Deutsche Annington Immobilien SE		1,405
	329,667	*,e	Deutsche Bank AG.		5,667
	878,751	*,e	Deutsche Bank AG.		15,079
	1,866		Deutsche Boerse AG.		172
	12,846	*	Deutsche Boerse AG. (Tender)		1,177
	16,656		Deutsche Lufthansa AG.		270

195

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	74,255		Deutsche Post AG.	$	2,541
	1,523,082		Deutsche Telekom AG.		26,688
	60,836		Deutsche Wohnen AG.		2,003
	65,000		Duerr AG.		5,800
	168,215		E.ON AG.		1,337
	12,604		Evonik Industries AG.		411
	3,132		Fraport AG. Frankfurt Airport Services Worldwide		222
	123,169		Fresenius Medical Care AG.		10,386
	58,501		Fresenius SE		4,701
	5,210		Fuchs Petrolub AG. (Preference)		254
	13,939		GEA Group AG.		592
	74,682		Hannover Rueckversicherung AG.		8,606
	11,275		HeidelbergCement AG.		1,056
	7,915		Henkel KGaA		880
	13,627		Henkel KGaA (Preference)		1,747
	36,489		Hochtief AG.		6,030
	5,147		Hugo Boss AG.		375
	86,432		Infineon Technologies AG.		1,769
	10,452	*,g	Innogy SE		394
	13,983	e	K&S AG.		325
	7,012		Lanxess AG.		470
	426,724		Linde AG.		71,101
	2,426		MAN AG.		250
	62,293		Merck KGaA		7,099
	13,775		Metro AG.		440
	12,320		Muenchener Rueckver AG.		2,412
	7,263		Osram Licht AG.		456
	177,246	*	Paion AG.		439
	11,464		Porsche AG.		625
	392,541		ProSiebenSat. Media AG.		17,382
	37,821	*	RWE AG.		627
	155,174		SAP AG.		15,224
	13,023		Schaeffler AG.		229
	222,632	*,g	Scout24 AG.		7,433
	396,361		Siemens AG.		54,290
	70,000	*,e	SLM Solutions Group AG.		2,786
	9,536		Symrise AG.		634
	53,898		Telefonica Deutschland Holding AG.		267
	28,187		ThyssenKrupp AG.		691
	38,076		TUI AG. (DI)		527
	9,512		United Internet AG.		421
	8,180		Volkswagen AG.		1,222
	8,348		Volkswagen AG. (Preference)		1,217
	6,190	*,g	Zalando SE		250
			TOTAL GERMANY		482,214
HONG KONG - 0.9%
	6,362,858		AIA Group Ltd		40,162
	11,418	e	ASM Pacific Technology		155
	158,671		Bank of East Asia Ltd		656
	758,353		BOC Hong Kong Holdings Ltd		3,100
	142,431	e	Cathay Pacific Airways Ltd		207
	59,953		Cheung Kong Infrastructure Holdings Ltd		471

196

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	677,543		Cheung Kong Property Holdings Ltd	$	4,571
	625,000		Chow Sang Sang Holding		1,474
	678,043		CK Hutchison Holdings Ltd		8,348
	541,454		CLP Holdings Ltd		5,668
	107,463		First Pacific Co		78
	118,803		Galaxy Entertainment Group Ltd		651
	1,063,434	*	Global Brands Group Holding Ltd		114
	553,000	*	Glorious Property Holdings Ltd		62
	44,000		Hang Lung Group Ltd		188
	3,218,664		Hang Lung Properties Ltd		8,367
	384,672		Hang Seng Bank Ltd		7,804
	519,017		Henderson Land Development Co Ltd		3,218
	138,000	e,g	HK Electric Investments & HK Electric Investments Ltd		127
	177,660		HKT Trust and HKT Ltd		229
	2,684,272		Hong Kong & China Gas Ltd		5,370
	332,488		Hong Kong Electric Holdings Ltd		2,868
	157,248		Hong Kong Exchanges and Clearing Ltd		3,968
	233,900		Hongkong Land Holdings Ltd		1,798
	7,000		Hopewell Highway Infrastructure Ltd		4
	277,247		Hutchison Port Holdings Trust		115
	80,760		Hysan Development Co Ltd		366
	12,300		Jardine Matheson Holdings Ltd		790
	10,900		Jardine Strategic Holdings Ltd		458
	48,000		Kerry Logistics Network Ltd		67
	609,674		Kerry Properties Ltd		2,115
	1,361,027	e	Li & Fung Ltd		590
	186,526		Link REIT		1,307
	1,303,529	*	Melco Crown Entertainment Ltd (ADR)		24,167
	401,112	e	MTR Corp		2,254
	1,860,301		New World Development Co Ltd		2,292
	378,000	*,e	Noble Group Ltd		52
	66,128		NWS Holdings Ltd		121
	213,262		PCCW Ltd		126
	776,733		Sands China Ltd		3,601
	55,992		Shangri-La Asia Ltd		82
	158,000		Shun TAK Holdings Ltd		56
	156,506		Sino Land Co		274
	100,611		SJM Holdings Ltd		82
	644,137		Sun Hung Kai Properties Ltd		9,469
	123,128		Swire Pacific Ltd (Class A)		1,231
	2,068,000		Swire Properties Ltd		6,628
	66,402		Techtronic Industries Co		269
	385,000	g	WH Group Ltd		332
	464,053		Wharf Holdings Ltd		3,988
	40,334		Wheelock & Co Ltd		319
	4,000,000		Xinyi Glass Holdings Co Ltd		3,523
	36,412		Yue Yuen Industrial Holdings		143
			TOTAL HONG KONG		164,475
HUNGARY - 0.1%
	70,000		MOL Hungarian Oil and Gas plc		4,793
	213,000		Richter Gedeon Rt		4,838
			TOTAL HUNGARY		9,631

197

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
INDIA - 0.4%
	387,000		Asian Paints Ltd	$	6,395
	160,000		Axis Bank Ltd		1,209
	536,200		Bharat Petroleum Corp Ltd		5,367
	133,600		Container Corp Of India Ltd		2,621
	322,531	*	DEN Networks Ltd		411
	3,710,832		DLF Ltd		8,495
	415,000		HDFC Bank Ltd		9,227
	1,050,000		Hindustan Petroleum Corp Ltd		8,501
	434,292		Indiabulls Housing Finance Ltd		6,673
	340,382	*	IVRCL Infrastructures & Projects Ltd		26
	14,391,253	*	Jain Irrigation Systems Ltd		20,797
	90,834		Prestige Estates Projects Ltd		304
	1,288,028	*	Puravankara Projects Ltd		1,338
	111,069		Reliance Industries Ltd		2,259
	130,351		Shriram Transport Finance Co Ltd		2,164
	81,410		Sobha Developers Ltd		431
	16,471,341	*	Unitech Ltd		1,423
	65,000		Yes Bank Ltd		1,549
			TOTAL INDIA		79,190
INDONESIA - 0.0%
	5,126,000		Bank Rakyat Indonesia		4,991
	1,325,600		PT Matahari Department Store Tbk		1,311
			TOTAL INDONESIA		6,302
IRELAND - 0.7%
	228,042	*	AerCap Holdings NV		10,483
	11,719,909	*	Bank of Ireland		2,932
	1,556,706		CRH plc		54,857
	2,902,262		Green REIT plc		4,211
	7,524,391		Hibernia REIT plc		9,994
	147,992	*,m	Irish Bank Resolution Corp Ltd		0
	22,368		James Hardie Industries NV		351
	247,358		Kerry Group plc (Class A)		19,448
	108,029		Keywords Studios plc		876
	5,987		Paddy Power plc		644
	4,593	*	Ryanair Holdings plc		71
	220,747	*	Ryanair Holdings plc (ADR)		18,317
	577,088		Smurfit Kappa Group plc		15,249
			TOTAL IRELAND		137,433
ISRAEL - 0.0%
	3,203		Azrieli Group		170
	164,414		Bank Hapoalim Ltd		1,002
	214,327	*	Bank Leumi Le-Israel		946
	159,180		Bezeq Israeli Telecommunication Corp Ltd		286
	9,913	*	Check Point Software Technologies		1,018
	1,760		Elbit Systems Ltd		201
	2,924		Frutarom Industries Ltd		163
	39,783		Israel Chemicals Ltd		169
	24,631		Mizrahi Tefahot Bank Ltd		418

198

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	4,675		Nice Systems Ltd	$	317
	89,927		Teva Pharmaceutical Industries Ltd (ADR)		2,886
			TOTAL ISRAEL		7,576
ITALY - 0.8%
	4,000,000		A2A S.p.A.		6,042
	89,649		Assicurazioni Generali S.p.A.		1,422
	31,643		Autostrade S.p.A.		816
	12,625,232		Banca Intesa S.p.A.		34,342
	75,913		Banca Intesa S.p.A. RSP		193
	200,000		Beni Stabili S.p.A.		125
	144,000		Brunello Cucinelli S.p.A		3,432
	523,709		Davide Campari-Milano S.p.A.		6,075
	1,059,109		Enel S.p.A.		4,984
	452,138		ENI S.p.A.		7,403
	9,149		Ferrari NV		682
	29,487	*	Finmeccanica S.p.A.		418
	90,072		Fondiaria-Sai S.p.A		199
	13,075		Luxottica Group S.p.A.		722
	2,040,426		Mediobanca S.p.A.		18,397
	885,240		Moncler S.p.A		19,392
	1,449,603	g	OVS S.p.A		9,000
	40,459	g	Poste Italiane S.p.A		269
	5,778,800		Prada S.p.A		24,307
	15,073		Prysmian S.p.A.		399
	430,682	*	Saipem S.p.A.		196
	189,938		Snam Rete Gas S.p.A.		821
	462,997		Telecom Italia RSP		338
	858,027	*	Telecom Italia S.p.A.		772
	113,559		Terna Rete Elettrica Nazionale S.p.A.		563
	288,147		UniCredit S.p.A		4,442
	304,209	*	Yoox S.p.A		7,231
			TOTAL ITALY		152,982
JAPAN - 7.7%
	1,400		ABC-Mart, Inc		82
	21,200	*	Acom Co Ltd		85
	370		Activia Properties Inc		1,765
	8		Advance Residence Investment Corp		22
	32,046		Aeon Co Ltd		469
	23,652	e	AEON Financial Service Co Ltd		447
	12,397		Aeon Mall Co Ltd		196
	867	e	AEON REIT Investment Corp		964
	7,600		Air Water, Inc		141
	334,790		Aisin Seiki Co Ltd		16,489
	177,175		Ajinomoto Co, Inc		3,506
	27,305		Alfresa Holdings Corp		475
	295,524		All Nippon Airways Co Ltd		904
	492,829		Alps Electric Co Ltd		13,974
	16,844		Amada Co Ltd		193
	58,848		Aozora Bank Ltd		217
	86,131		Asahi Breweries Ltd		3,261
	224,005		Asahi Glass Co Ltd		1,817

199

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	322,134		Asahi Kasei Corp	$	3,130
	173,300		Ashikaga Holdings Co Ltd		693
	7,900		Asics Corp		127
	104,305		Astellas Pharma, Inc		1,376
	195,105		Bank of Kyoto Ltd		1,424
	3,253		Benesse Holdings Inc		102
	178		BLife Investment Corp		464
	143,504		Bridgestone Corp		5,825
	11,885		Brother Industries Ltd		249
	16,800	e	Calbee, Inc		574
	51,897		Canon, Inc		1,621
	9,633	e	Casio Computer Co Ltd		134
	35,244		Central Japan Railway Co		5,757
	585,562		Chiba Bank Ltd		3,768
	203,166		Chubu Electric Power Co, Inc		2,729
	82,258		Chugai Pharmaceutical Co Ltd		2,832
	38,000		Chugoku Bank Ltd		555
	64,166	e	Chugoku Electric Power Co, Inc		712
	6,100		Coca-Cola West Japan Co Ltd		197
	258,600		Concordia Financial Group Ltd		1,199
	240,000		Cosmo Energy Holdings Co Ltd		4,137
	6,368		Credit Saison Co Ltd		114
	20,000	*	CyberAgent, Inc		593
	281,500	*,e	CYBERDYNE, Inc		4,045
	25,076		Dai Nippon Printing Co Ltd		271
	14,246		Daicel Chemical Industries Ltd		172
	1,862,200		Dai-ichi Mutual Life Insurance Co		33,332
	52,694		Daiichi Sankyo Co Ltd		1,189
	141,546		Daikin Industries Ltd		14,273
	15,517		Daito Trust Construction Co Ltd		2,134
	27,556		Daiwa House Industry Co Ltd		792
	694,480		Daiwa Securities Group, Inc		4,237
	23,200	e	Dena Co Ltd		472
	100,387		Denso Corp		4,429
	45,755		Dentsu, Inc		2,492
	5,833		Don Quijote Co Ltd		203
	162,368		East Japan Railway Co		14,178
	12,228		Eisai Co Ltd		635
	29,193		Electric Power Development Co		686
	4,044		FamilyMart Co Ltd		241
	43,443		Fanuc Ltd		8,944
	11,719		Fast Retailing Co Ltd		3,688
	1,177,822		Fuji Electric Holdings Co Ltd		7,014
	121,980		Fuji Heavy Industries Ltd		4,474
	362,393		Fujifilm Holdings Corp		14,205
	2,114,991		Fujitsu Ltd		12,983
	173,733		Fukuoka Financial Group, Inc		755
	1,018		GLP J-Reit		1,178
	100,000		GMO internet, Inc		1,185
	132,600	e	GMO Payment Gateway, Inc		6,606
	91,273		Hachijuni Bank Ltd		515
	10,100		Hakuhodo DY Holdings, Inc		120
	7,000		Hamamatsu Photonics KK		202

200

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	71,900		Hankyu Hanshin Holdings, Inc	$	2,346
	1,132		Hikari Tsushin, Inc		111
	72,282		Hino Motors Ltd		876
	1,532		Hirose Electric Co Ltd		212
	115,000		Hiroshima Bank Ltd		489
	8,475		Hisamitsu Pharmaceutical Co, Inc		485
	685,950		Hitachi Capital Corp		16,627
	22,070		Hitachi Chemical Co Ltd		613
	5,333		Hitachi Construction Machinery Co Ltd		133
	125,700		Hitachi High-Technologies Corp		5,135
	6,242,842		Hitachi Ltd		33,897
	9,500		Hitachi Metals Ltd		134
	38,131	e	Hokuriku Electric Power Co		371
	342,396		Honda Motor Co Ltd		10,337
	11,512		Hoshizaki Electric Co Ltd		910
	86,953		Hoya Corp		4,201
	65		Hulic Reit, Inc		108
	4,400		Idemitsu Kosan Co Ltd		153
	7,129		Iida Group Holdings Co Ltd		110
	574,800	e	Infomart Corp		3,296
	45,310		Inpex Holdings, Inc		447
	300		Invesco Office J-Reit, Inc		269
	127,981	e	Isetan Mitsukoshi Holdings Ltd		1,407
	6,475,748	*	Ishikawajima-Harima Heavy Industries Co Ltd		20,484
	852,200	e	Istyle, Inc		7,038
	29,800		Isuzu Motors Ltd		395
	292,170		Itochu Corp		4,159
	29,800		Itochu Techno-Science Corp		879
	103,000	*	Itoham Yonekyu Holdings, Inc		965
	266,500		J Front Retailing Co Ltd		3,959
	26,815		Japan Airlines Co Ltd		851
	2,303	e	Japan Airport Terminal Co Ltd		80
	19,146		Japan Post Bank Co Ltd		238
	22,340		Japan Post Holdings Co Ltd		281
	94		Japan Prime Realty Investment Corp		365
	99		Japan Real Estate Investment Corp		526
	1,793		Japan Rental Housing Investments, Inc		1,317
	693		Japan Retail Fund Investment Corp		1,360
	379,340		Japan Tobacco, Inc		12,347
	44,404		JFE Holdings, Inc		764
	41,278		JGC Corp		719
	9,486		JSR Corp		160
	350,703		JTEKT Corp		5,456
	730,312		JX Holdings, Inc		3,596
	370,000		kabu.com Securities Co Ltd		1,206
	214,372		Kajima Corp		1,402
	7,134	e	Kakaku.com, Inc		97
	55,372		Kamigumi Co Ltd		480
	13,129		Kaneka Corp		98
	296,974	*	Kansai Electric Power Co, Inc		3,654
	10,214		Kansai Paint Co Ltd		218
	298,085		Kao Corp		16,370
	469,510		Kawasaki Heavy Industries Ltd		1,426

201

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	388,700		KDDI Corp	$	10,223
	25,000		Keihan Electric Railway Co Ltd		153
	100,622	e	Keihin Electric Express Railway Co Ltd		1,107
	168,123	e	Keio Corp		1,336
	6,813		Keisei Electric Railway Co Ltd		159
	1,488		Kenedix Realty Investment Corp		8,776
	281		Kenedix Retail REIT Corp		631
	246,000		Kenedix, Inc		980
	20,200		Keyence Corp		8,104
	6,795		Kikkoman Corp		203
	174,914	e	Kintetsu Corp		632
	411,749		Kirin Brewery Co Ltd		7,789
	65,108	*	Kobe Steel Ltd		596
	5,500		Koito Manufacturing Co Ltd		287
	144,836		Komatsu Ltd		3,794
	4,286	e	Konami Corp		182
	522,820		Konica Minolta Holdings, Inc		4,689
	1,528		Kose Corp		139
	1,149,507		Kubota Corp		17,327
	17,274		Kuraray Co Ltd		263
	4,977		Kurita Water Industries Ltd		121
	15,800		Kyocera Corp		883
	232,689		Kyowa Hakko Kogyo Co Ltd		3,697
	112,735	e	Kyushu Electric Power Co, Inc		1,205
	77,100		Kyushu Financial Group, Inc		472
	2,680		Lawson, Inc		182
	2,100	*,e	LINE Corp		81
	12,000		Lion Corp		216
	12,764		LIXIL Group Corp		324
	53,940		M3, Inc		1,344
	14,405		Mabuchi Motor Co Ltd		813
	290,000		Maeda Corp		2,571
	55,672		Makita Corp		1,953
	813,372		Marubeni Corp		5,024
	10,409	e	Marui Co Ltd		142
	12,796		Maruichi Steel Tube Ltd		365
	1,222,100	e	Matsui Securities Co Ltd		9,578
	276,355		Matsushita Electric Industrial Co Ltd		3,128
	213,015		Mazda Motor Corp		3,075
	3,200		McDonald’s Holdings Co Japan Ltd		93
	8,159		Mediceo Paltac Holdings Co Ltd		128
	30,000		MEIJI Holdings Co Ltd		2,503
	130		MID Reit, Inc		393
	73,600		Minebea Co Ltd		984
	20,341		Miraca Holdings, Inc		934
	143,400		MISUMI Group, Inc		2,603
	307,819		Mitsubishi Chemical Holdings Corp		2,390
	332,911		Mitsubishi Corp		7,215
	443,414		Mitsubishi Electric Corp		6,389
	264,258		Mitsubishi Estate Co Ltd		4,817
	47,380		Mitsubishi Gas Chemical Co, Inc		987
	2,012,150		Mitsubishi Heavy Industries Ltd		8,096
	6,262		Mitsubishi Logistics Corp		86

202

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	165,453		Mitsubishi Materials Corp	$	5,022
	142,800		Mitsubishi Motors Corp		857
	4,706,496		Mitsubishi UFJ Financial Group, Inc		29,647
	22,800		Mitsubishi UFJ Lease & Finance Co Ltd		114
	418,520		Mitsui & Co Ltd		6,078
	205,140		Mitsui Chemicals, Inc		1,016
	308,829		Mitsui Fudosan Co Ltd		6,594
	56,499		Mitsui OSK Lines Ltd		178
	109,709		Mitsui Sumitomo Insurance Group Holdings, Inc		3,504
	74,075		Mitsui Trust Holdings, Inc		2,567
	1,800		Mixi Inc		87
	5,076,556		Mizuho Financial Group, Inc		9,318
	516,800	e	MonotaRO Co Ltd		16,016
	101		Mori Hills REIT Investment Corp		135
	72		Mori Trust Sogo Reit, Inc		112
	139,035		Murata Manufacturing Co Ltd		19,808
	5,539		Nabtesco Corp		147
	195,000	e	Nagoya Railroad Co Ltd		879
	9,606		Namco Bandai Holdings, Inc		288
	647,615		NEC Corp		1,563
	8,500		Nexon Co Ltd		135
	185,031		NGK Insulators Ltd		4,198
	8,793		NGK Spark Plug Co Ltd		202
	49,717		Nidec Corp		4,748
	17,081		Nikon Corp		248
	160,398		Nintendo Co Ltd		37,219
	196		Nippon Building Fund, Inc		1,074
	20,313		Nippon Electric Glass Co Ltd		123
	42,441		Nippon Express Co Ltd		218
	7,944		Nippon Meat Packers, Inc		213
	8,126		Nippon Paint Co Ltd		284
	887		Nippon ProLogis REIT, Inc		1,923
	68,901		Nippon Steel Corp		1,592
	691,900		Nippon Telegraph & Telephone Corp		29,581
	2,451,673		Nippon Yusen Kabushiki Kaisha		5,176
	6,000		Nissan Chemical Industries Ltd		175
	1,208,862		Nissan Motor Co Ltd		11,656
	10,031		Nisshin Seifun Group, Inc		150
	2,945		Nissin Food Products Co Ltd		164
	3,900		Nitori Co Ltd		495
	242,837		Nitto Denko Corp		18,786
	200,853		NKSJ Holdings, Inc		7,379
	204,855		NOK Corp		4,785
	3,543,980		Nomura Holdings, Inc		21,938
	5,174		Nomura Real Estate Holdings, Inc		83
	458		Nomura Real Estate Master Fund, Inc		712
	29,900		Nomura Research Institute Ltd		1,102
	92,435		NSK Ltd		1,324
	240,000		NTN Corp		1,198
	56,700		NTT Data Corp		2,692
	1,113,348		NTT DoCoMo, Inc		25,999
	141,596		Obayashi Corp		1,328
	3,200		Obic Co Ltd		153

203

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	62,349	e	Odakyu Electric Railway Co Ltd	$	1,216
	189,999		OJI Paper Co Ltd		891
	204,442		Olympus Corp		7,891
	161,513		Omron Corp		7,097
	20,168	*,e	Ono Pharmaceutical Co Ltd		418
	1,803		Oracle Corp Japan		103
	66,200	e	Oriental Land Co Ltd		3,805
	2,151,225		ORIX Corp		31,930
	187		Orix JREIT, Inc		296
	1,293,106		Osaka Gas Co Ltd		4,931
	115,000		Osaka Securities Exchange Co Ltd		1,640
	6,000		Otsuka Corp		326
	132,320		Otsuka Holdings KK		5,989
	189,100		Paltac Corp		5,274
	347,100		Park24 Co Ltd		9,120
	52,800		Pola Orbis Holdings, Inc		1,276
	35		Premier Investment Co		40
	191,000		Rakuten, Inc		1,919
	42,713		Recruit Holdings Co Ltd		2,185
	1,250,872		Resona Holdings, Inc		6,725
	32,582	e	Ricoh Co Ltd		269
	1,712		Rinnai Corp		136
	125,124		Rohm Co Ltd		8,330
	1,244		Ryohin Keikaku Co Ltd		273
	2,280		Sankyo Co Ltd		76
	114,700		Santen Pharmaceutical Co Ltd		1,666
	36,000		Sapporo Holdings Ltd		973
	9,191		SBI Holdings, Inc		128
	48,434		Secom Co Ltd		3,480
	8,052		Sega Sammy Holdings, Inc		108
	8,500		Seibu Holdings, Inc		141
	14,000		Seiko Epson Corp		295
	400,000		Seino Holdings Corp		4,504
	103,851		Sekisui Chemical Co Ltd		1,751
	1,264,620		Sekisui House Ltd		20,852
	151,800		Seria Co Ltd		6,573
	229,912		Seven & I Holdings Co Ltd		9,032
	27,500	e	Seven Bank Ltd		90
	70,000	*,e	Sharp Corp		294
	11,947		Shimadzu Corp		190
	5,727		Shimamura Co Ltd		759
	3,592		Shimano, Inc		526
	1,613,962		Shimizu Corp		14,493
	192,100		Shin-Etsu Chemical Co Ltd		16,697
	448,778	e	Shinsei Bank Ltd		827
	86,837		Shionogi & Co Ltd		4,495
	18,093		Shiseido Co Ltd		476
	125,301		Shizuoka Bank Ltd		1,022
	88,028		Shoei Co Ltd		831
	9,322		Showa Shell Sekiyu KK		95
	12,791		SMC Corp		3,792
	262,500		SMS Co Ltd		6,668
	368,654		Softbank Corp		26,143

204

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	3,500		Sohgo Security Services Co Ltd	$	131
	2,400,000		Sojitz Holdings Corp		6,031
	2,846,882		Sony Corp		96,078
	245,728	e	Sony Financial Holdings, Inc		3,946
	128,000		Square Enix Co Ltd		3,634
	217,315		Stanley Electric Co Ltd		6,213
	1,030	e	Star Asia Investment Corp		897
	7,900		Start Today Co Ltd		176
	498,000		Sumco Corp		8,319
	737,883		Sumitomo Chemical Co Ltd		4,133
	200,163		Sumitomo Corp		2,700
	7,763	e	Sumitomo Dainippon Pharma Co Ltd		128
	168,524		Sumitomo Electric Industries Ltd		2,801
	1,691,625		Sumitomo Heavy Industries Ltd		11,827
	23,631		Sumitomo Metal Mining Co Ltd		338
	1,115,690		Sumitomo Mitsui Financial Group, Inc		40,610
	117,421		Sumitomo Realty & Development Co Ltd		3,050
	8,363		Sumitomo Rubber Industries, Inc		143
	3,200		Sundrug Co Ltd		108
	6,800		Suntory Beverage & Food Ltd		287
	88,776		Suruga Bank Ltd		1,874
	3,907		Suzuken Co Ltd		128
	46,734		Suzuki Motor Corp		1,941
	312,588		Sysmex Corp		19,018
	217,631		T&D Holdings, Inc		3,154
	258,000		Taiheiyo Cement Corp		866
	228,368		Taisei Corp		1,670
	4,856		Taisho Pharmaceutical Holdings Co Ltd		395
	28,885		Taiyo Nippon Sanso Corp		338
	14,117		Takashimaya Co Ltd		124
	286,948		Takeda Pharmaceutical Co Ltd		13,509
	49,181	e	Tanabe Seiyaku Co Ltd		1,027
	5,856		TDK Corp		372
	79,322		Teijin Ltd		1,498
	32,141		Terumo Corp		1,117
	52,294		THK Co Ltd		1,319
	251,878		Tobu Railway Co Ltd		1,279
	5,575		Toho Co Ltd		148
	17,000		Toho Gas Co Ltd		121
	102,615		Tohoku Electric Power Co, Inc		1,394
	283,364		Tokio Marine Holdings, Inc		11,976
	205,600	*,e	Tokyo Base Co Ltd		5,444
	435,868	*	Tokyo Electric Power Co, Inc		1,709
	7,616		Tokyo Electron Ltd		834
	978,924		Tokyo Gas Co Ltd		4,471
	41,200		Tokyo Tatemono Co Ltd		545
	388,852		Tokyu Corp		2,763
	21,900		Tokyu Fudosan Holdings Corp		119
	77		Tokyu REIT, Inc		97
	204,383	m	TonenGeneral Sekiyu KK		2,569
	76,000		Topcon Corp		1,361
	25,734		Toppan Printing Co Ltd		263
	326,664		Toray Industries, Inc		2,907

205

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	193,554	*,e	Toshiba Corp	$	417
	900,000		Tosoh Corp		7,919
	7,142	e	Toto Ltd		270
	7,939		Toyo Seikan Kaisha Ltd		129
	4,399		Toyo Suisan Kaisha Ltd		164
	3,297		Toyoda Gosei Co Ltd		84
	108,093		Toyota Industries Corp		5,377
	1,487,300		Toyota Motor Corp		80,727
	10,694		Toyota Tsusho Corp		325
	5,428		Trend Micro, Inc		242
	200,000		TS Tech Co Ltd		5,389
	5,100		Tsumura & Co		160
	1,700		Tsuruha Holdings, Inc		158
	34,312		Uni-Charm Corp		825
	304		United Urban Investment Corp		467
	10,730		USS Co Ltd		180
	27,607		West Japan Railway Co		1,800
	315,738	e	Yahoo! Japan Corp		1,464
	4,404		Yakult Honsha Co Ltd		245
	30,031	e	Yamada Denki Co Ltd		150
	45,406	e	Yamaguchi Financial Group, Inc		493
	8,308		Yamaha Corp		230
	13,791		Yamaha Motor Co Ltd		332
	16,755		Yamato Transport Co Ltd		351
	6,553		Yamazaki Baking Co Ltd		135
	12,224		Yaskawa Electric Corp		246
	11,010		Yokogawa Electric Corp		174
	5,200		Yokohama Rubber Co Ltd		102
			TOTAL JAPAN		1,449,183
JERSEY, C.I. - 0.0%
	7,143		Randgold Resources Ltd		624
			TOTAL JERSEY, C.I.		624
JORDAN - 0.0%
	11,703	e	Hikma Pharmaceuticals plc		291
			TOTAL JORDAN		291
KOREA, REPUBLIC OF - 0.3%
	29,000		Hanssem Co Ltd		5,705
	109,960		Hyundai Motor Co		15,497
	86,045	*	Osstem Implant Co Ltd		4,026
	10,062		Samsung Electronics Co Ltd		18,518
	20,000		Samsung Fire & Marine Insurance Co Ltd		4,795
			TOTAL KOREA, REPUBLIC OF		48,541
LUXEMBOURG - 0.3%
	90,000		APERAM		4,487
	4,995,868	*	ArcelorMittal		41,796
	2,436,775		B&M European Value Retail S.A.		9,149
	838		Eurofins Scientific		364
	5,291	e	Millicom International Cellular S.A.		295
	48,726		RTL Group		3,921

206

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	27,746	e	SES Global S.A.	$	645
	36,760		Tenaris S.A.		636
			TOTAL LUXEMBOURG		61,293
MACAU - 0.0%
	42,192		MGM China Holdings Ltd		88
	1,477,383	e	Wynn Macau Ltd		3,009
			TOTAL MACAU		3,097
MALAYSIA - 0.1%
	8,500,000		AirAsia BHD		6,030
	8,333,325		Karex BHD		4,067
	1,266,980		Public Bank BHD		5,696
	45,306	*	YNH Property BHD		16
			TOTAL MALAYSIA		15,809
MEXICO - 0.0%
	4,600,500	*	Becle SAB de C.V.		8,126
	16,964		Fresnillo plc		331
	227,257		Infraestructura Energetica ,NV SAB de C.V.		1,083
			TOTAL MEXICO		9,540
NETHERLANDS - 2.5%
	1,773,835	g	ABN AMRO Group NV (ADR)		43,013
	136,956		Aegon NV		698
	94,421		Akzo Nobel NV		7,816
	28,485	*	Altice NV (Class A)		644
	8,165	*	Altice NV (Class B)		184
	625,826		ASML Holding NV		83,042
	6,673		Boskalis Westminster		230
	13,771		DSM NV		931
	3,000		Eurocommercial Properties NV		107
	829,285	g	Euronext NV		36,161
	118,128		EXOR NV		6,108
	6,321		Gemalto NV		353
	7,571		Heineken Holding NV		601
	81,489		Heineken NV		6,935
	9,745,969		ING Groep NV		147,206
	829,022		Koninklijke Ahold Delhaize NV		17,716
	517,983		Koninklijke Philips Electronics NV		16,640
	5,450		Koninklijke Vopak NV		237
	23,882		NN Group NV		776
	22,499	*	NXP Semiconductors NV		2,329
	9,144	e	Randstad Holdings NV		527
	1,107,454		Royal Dutch Shell plc (A Shares)		29,191
	1,761,224		Royal Dutch Shell plc (B Shares)		48,415
	859,800		Royal KPN NV		2,585
	3,000		Wereldhave NV		132
	193,183		Wolters Kluwer NV		8,018
			TOTAL NETHERLANDS		460,595

207

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
NEW ZEALAND - 0.0%
	4,000,000		Air New Zealand Ltd	$	6,898
	48,753		Auckland International Airport Ltd		231
	30,616		Contact Energy Ltd		109
	34,471		Fletcher Building Ltd		201
	72,522		Kiwi Property Group Ltd		72
	63,401	*	Meridian Energy Ltd		124
	35,243		Mighty River Power Ltd		78
	18,864		Ryman Healthcare Ltd		111
	85,806		Telecom Corp of New Zealand Ltd		210
			TOTAL NEW ZEALAND		8,034
NORWAY - 0.4%
	1,070,200		Aker BP ASA		17,176
	1,197,884		DNB NOR Holding ASA		19,021
	14,580		Gjensidige Forsikring BA		222
	104,164		Norsk Hydro ASA		607
	62,939		Orkla ASA		564
	28,710		PAN Fish ASA		438
	6,182		Schibsted ASA		159
	6,991		Schibsted ASA (B Shares)		160
	1,960,249		Statoil ASA		33,694
	57,610		Telenor ASA		958
	281,200		TGS Nopec Geophysical Co ASA		5,971
	13,744		Yara International ASA		529
			TOTAL NORWAY		79,499
PERU - 0.0%
	83,223		Southern Copper Corp (NY)		2,987
			TOTAL PERU		2,987
PHILIPPINES - 0.1%
	42,845,940		Megaworld Corp		2,885
	5,300,354		Metropolitan Bank & Trust		8,447
	8,245,950		Robinsons Retail Holdings, Inc		12,649
			TOTAL PHILIPPINES		23,981
POLAND - 0.0%
	150,000		KGHM Polska Miedz S.A.		4,376
			TOTAL POLAND		4,376
PORTUGAL - 0.1%
	178,770	e	Energias de Portugal S.A.		605
	37,308		Galp Energia SGPS S.A.		566
	665,860		Jeronimo Martins SGPS S.A.		11,898
			TOTAL PORTUGAL		13,069
RUSSIA - 0.2%
	2,613,517		Sberbank of Russian Federation (ADR)		30,208
	203,100	*	X 5 Retail Group NV (GDR)		6,834
			TOTAL RUSSIA		37,042

208

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
SINGAPORE - 0.4%
	195,945		Ascendas REIT	$	353
	199,797	e	CapitaCommercial Trust		221
	801,106		CapitaLand Ltd		2,079
	543,517		CapitaMall Trust		765
	159,200		City Developments Ltd		1,160
	104,148		ComfortDelgro Corp Ltd		191
	1,598,238		DBS Group Holdings Ltd		22,139
	308,392		Genting Singapore plc		225
	133,895		Global Logistic Properties		266
	355,565		Golden Agri-Resources Ltd		98
	4,666		Jardine Cycle & Carriage Ltd		146
	353,668		Keppel Corp Ltd		1,754
	54,756		Keppel Infrastructure Trust		20
	79,650		K-REIT Asia		60
	1,489,248	e	Oversea-Chinese Banking Corp		10,344
	49,448		SembCorp Industries Ltd		112
	286,485		SembCorp Marine Ltd		392
	127,584		Singapore Airlines Ltd		918
	33,500		Singapore Airport Terminal Services Ltd		117
	471,343	e	Singapore Exchange Ltd		2,594
	449,625	e	Singapore Press Holdings Ltd		1,141
	412,007		Singapore Technologies Engineering Ltd		1,099
	2,876,891		Singapore Telecommunications Ltd		8,062
	30,430	e	StarHub Ltd		63
	174,900		Suntec Real Estate Investment Trust		224
	607,036	e	United Overseas Bank Ltd		9,588
	70,086		UOL Group Ltd		349
	300,000		Venture Corp Ltd		2,460
	96,262		Wilmar International Ltd		243
			TOTAL SINGAPORE		67,183
SOUTH AFRICA - 0.2%
	25,943	e	Al Noor Hospitals Group plc		232
	560,000		Exxaro Resources Ltd		4,918
	49,143		Investec plc		335
	330,000	*,e	Kumba Iron Ore Ltd		4,980
	567,537		Mondi plc		13,712
	32,300		Naspers Ltd (N Shares)		5,566
	1,014,797		Steinhoff International Holdings NV (GR)		4,893
			TOTAL SOUTH AFRICA		34,636
SPAIN - 0.9%
	49,607		Abertis Infraestructuras S.A. (Continuous)		799
	14,983		ACS Actividades Construccion y Servicios S.A.		509
	5,077	g	Aena S.A.		802
	483,141		Amadeus IT Holding S.A.		24,480
	759,279		Banco Bilbao Vizcaya Argentaria S.A.		5,894
	402,492	*	Banco de Sabadell S.A.		737
	244,218	*,e	Banco Popular Espanol S.A.		237
	2,960,961		Banco Santander S.A.		18,125
	367,177	e	Bankia S.A.		418
	52,102		Bankinter S.A.		437
	3,956,265		CaixaBank S.A.		17,010

209

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,584,344		Corp Mapfre S.A.	$	5,427
	950,843	e	Distribuidora Internacional de Alimentacion S.A.		5,496
	17,376		Enagas		451
	718,570		Endesa S.A.		16,865
	37,289		Ferrovial S.A.		745
	27,059		Gas Natural SDG S.A.		592
	23,189		Grifols S.A.		569
	2,299,017		Iberdrola S.A.		16,426
	505,241		Industria De Diseno Textil S.A.		17,793
	108,528	*,e,m	Let’s GOWEX S.A.		1
	33,445		Red Electrica Corp S.A.		641
	273,004		Repsol YPF S.A.		4,230
	235,400		Tecnicas Reunidas S.A.		9,294
	1,072,005		Telefonica S.A.		11,999
	14,916		Zardoya Otis S.A.		138
			TOTAL SPAIN		160,115
SWEDEN - 0.6%
	22,750		Alfa Laval AB		429
	316,649		Assa Abloy AB		6,510
	51,826		Atlas Copco AB (A Shares)		1,827
	129,509		Atlas Copco AB (B Shares)		4,114
	29,822	e	Autoliv, Inc		3,050
	394,794		Boliden AB		11,751
	10,000		Castellum AB		132
	18,470		Electrolux AB (Series B)		513
	233,403	e	Ericsson (LM) (B Shares)		1,558
	13,081	e	Fabege AB		208
	14,493	e	Getinge AB (B Shares)		254
	72,657		Hennes & Mauritz AB (B Shares)		1,854
	304,803		Hexagon AB (B Shares)		12,233
	31,861	e	Husqvarna AB (B Shares)		279
	6,165	e	ICA Gruppen AB		210
	12,896		Industrivarden AB		279
	413,283		Intrum Justitia AB		15,428
	304,080		Investment AB Kinnevik (B Shares)		8,106
	34,787		Investor AB (B Shares)		1,463
	200,000		JM AB		6,316
	2,998	*,e	Kungsleden AB		17
	14,993	e	Kungsleden AB		86
	2,687		Lundbergs AB (B Shares)		182
	152,334	*	Lundin Petroleum AB		3,092
	232,359		Nordea Bank AB		2,651
	82,277		Sandvik AB		1,229
	11,712	*,e	SAS AB		19
	23,709		Securitas AB (B Shares)		370
	358,007	e	Skandinaviska Enskilda Banken AB (Class A)		3,978
	26,264	e	Skanska AB (B Shares)		618
	30,922	e	SKF AB (B Shares)		611
	46,273	e	Svenska Cellulosa AB (B Shares)		1,491
	116,168	*,e	Svenska Handelsbanken AB		1,592
	227,525	e	Swedbank AB (A Shares)		5,265
	14,081		Swedish Match AB		458

210

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	26,423		Tele2 AB (B Shares)	$	252
	199,785		TeliaSonera AB		837
	633,318	e	Volvo AB (B Shares)		9,343
			TOTAL SWEDEN		108,605
SWITZERLAND - 2.5%
	462,903		ABB Ltd		10,835
	15,859	*	Actelion Ltd		4,468
	368,347		Adecco S.A.		26,154
	6,795		Aryzta AG.		218
	55,875		Baloise Holding AG.		7,678
	170		Barry Callebaut AG.		222
	314,949		Cie Financiere Richemont S.A.		24,901
	14,015		Coca-Cola HBC AG.		362
	390,463		Credit Suisse Group		5,810
	3,475	*	Dufry Group		529
	631		EMS-Chemie Holding AG.		368
	36,000		Flughafen Zuerich AG.		7,670
	289	*	Galenica AG.		305
	2,867		Geberit AG.		1,235
	8,000		Georg Fischer AG.		7,274
	707	e	Givaudan S.A.		1,273
	8,066,266	*	Glencore Xstrata plc		31,648
	34,933		Holcim Ltd		2,061
	17,099		Julius Baer Group Ltd		854
	4,049		Kuehne & Nagel International AG.		572
	77		Lindt & Spruengli AG.		436
	8		Lindt & Spruengli AG. (Registered)		531
	328,465		Lonza Group AG.		62,087
	1,005,779		Nestle S.A.		77,195
	1,117,750		Novartis AG.		83,001
	2,453		Pargesa Holding S.A.		173
	1,327		Partners Group		713
	4,040		Phonak Holding AG.		560
	3,500		PSP Swiss Property AG.		319
	163,918		Roche Holding AG.		41,919
	3,189		Schindler Holding AG.		617
	1,555		Schindler Holding AG. (Registered)		295
	424		SGS S.A.		904
	162		Sika AG.		972
	49,695		STMicroelectronics NV		765
	2,660		Swatch Group AG.		952
	2,461		Swatch Group AG. (Registered)		171
	2,493		Swiss Life Holding		804
	8,089		Swiss Prime Site AG.		712
	240,801		Swiss Re Ltd		21,628
	1,983		Swisscom AG.		914
	7,085		Syngenta AG.		3,129
	23,824		Temenos Group AG.		1,892
	514,117		UBS AG.		8,218
	364,440		Wolseley plc		22,946
	36,750		Zurich Financial Services AG.		9,807
			TOTAL SWITZERLAND		476,097

211

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
TAIWAN - 0.4%
	38,399,976		Advanced Semiconductor Engineering, Inc	$	49,191
	1,200,000		Basso Industry Corp		3,647
	1,900,000		Hon Hai Precision Industry Co, Ltd		5,698
	2,238,478		Hota Industrial Manufacturing Co Ltd		9,372
	60,000		Largan Precision Co Ltd		9,450
	90,000		Silicon Motion Technology Corp (ADR)		4,208
			TOTAL TAIWAN		81,566
THAILAND - 0.1%
	3,000,000		Delta Electronics Thai PCL		7,638
	3,028,000		Tisco Financial Group PCL (ADR)		6,325
			TOTAL THAILAND		13,963
UNITED KINGDOM - 5.5%
	75,625		3i Group plc		710
	70,803		Aberdeen Asset Management plc		235
	14,863		Admiral Group plc		370
	1,430,199	*	Anglo American plc (London)		21,852
	1,752,973		Ashtead Group plc		36,285
	234,000	*	ASOS plc		17,696
	233,539		Associated British Foods plc		7,629
	146,264		AstraZeneca plc		8,993
	3,075,180	g	Auto Trader Group plc		15,093
	1,401,796		Aviva plc		9,354
	19,648		Babcock International Group		217
	243,343		BAE Systems plc		1,958
	8,549,153		Barclays plc		24,132
	78,084		Barratt Developments plc		535
	1,028,700		Beazley plc		5,508
	577,774	*	Belmond Ltd.		6,991
	10,304		Berkeley Group Holdings plc		414
	100,000		Big Yellow Group plc		915
	3,086,000	*,e	boohoo.com plc		6,453
	5,655,557		BP plc		32,554
	1,218,383		British American Tobacco plc		80,835
	269,655		British Land Co plc		2,061
	1,892,254		Britvic plc		15,356
	647,216		BT Group plc		2,584
	25,663		Bunzl plc		746
	33,235		Burberry Group plc		717
	52,060		Capita Group plc		368
	20,000	e	Capital & Counties Properties		73
	417,800		Centrica plc		1,138
	686,400		Cineworld Group plc		5,698
	3,017,644		CNH Industrial NV		29,045
	128,010	e	Cobham plc		213
	16,557		Coca-Cola European Partners plc		618
	501,886		Compass Group plc		9,476
	10,194	*	Croda International plc		455
	154,865	*	CYBG plc		540
	66,657		DCC plc		5,868

212

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	31,127		Derwent London plc	$	1,097
	348,924		Diageo plc		9,992
	102,343		Direct Line Insurance Group plc		445
	12,455		easyJet plc		160
	2,972,700		Electrocomponents plc		17,632
	72,726		Experian Group Ltd		1,484
	1,338,888		Fevertree Drinks plc		25,244
	69,052	*,e	Fiat DaimlerChrysler Automobiles NV		754
	129,770		GKN plc		591
	4,488,070		GlaxoSmithKline plc		93,320
	143,000		Great Portland Estates plc		1,167
	119,030		Group 4 Securicor plc		454
	166,222		Hammerson plc		1,189
	19,981		Hargreaves Lansdown plc		325
	4,042,775		Hays plc		7,953
	1,830,692		HSBC Holdings plc		14,933
	21,143		IMI plc		316
	73,318		Imperial Tobacco Group plc		3,553
	800,000		Inchcape plc		8,434
	36,674		Inmarsat plc		391
	14,423	*	InterContinental Hotels Group plc		706
	64,521		International Consolidated Airlines Group S.A.		426
	12,087		Intertek Group plc		595
	100,331	e	Intu Properties plc		351
	278,956		ITV plc		766
	126,972	e	J Sainsbury plc		421
	14,942		Johnson Matthey plc		577
	1,866,414	*	Just Eat plc		13,219
	172,057		Kingfisher plc		704
	171,095		Land Securities Group plc		2,272
	7,575,867		Legal & General Group plc		23,458
	134,640	*	Liberty Global plc		4,718
	185,289	*	Liberty Global plc (Class A)		6,646
	21,957	*	Liberty Global plc LiLAC (Class C)		506
	6,579,726		Lloyds TSB Group plc		5,472
	118,544		London Stock Exchange Group plc		4,716
	3,660,337		Man Group plc		6,762
	123,830		Marks & Spencer Group plc		523
	59,519		Meggitt plc		332
	54,852	g	Merlin Entertainments plc		330
	287,566		National Grid plc		3,648
	72,033		New Carphone Warehouse plc		287
	23,121		Next plc		1,251
	373,602		Old Mutual plc		940
	61,643		Pearson plc		526
	26,961		Pentair plc		1,693
	23,430		Persimmon plc		615
	19,695		Petrofac Ltd		228
	11,540		Provident Financial plc		434
	2,639,682		Prudential plc		55,759
	2,660,608	*,e	Purplebricks Group plc		9,467
	132,448		Reckitt Benckiser Group plc		12,091
	906,437		Reed Elsevier NV		16,816

213

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	176,571		Reed Elsevier plc	$	3,457
	227,462		Rightmove plc		11,365
	83,732		Rio Tinto Ltd		3,866
	481,635		Rio Tinto plc		19,394
	139,907		Rolls-Royce Group plc		1,322
	270,338	*	Royal Bank of Scotland Group plc		820
	68,261		Royal Mail plc		364
	75,975		RSA Insurance Group plc		558
	50,000		Safestore Holdings plc		236
	83,436		Sage Group plc		659
	10,427		Schroders plc		396
	79,118		Scottish & Southern Energy plc		1,462
	216,258		Segro plc		1,236
	17,518		Severn Trent plc		523
	20,000		Shaftesbury plc		229
	813,179		Shire Ltd		47,382
	78,330		Sky plc		958
	138,328		Smith & Nephew plc		2,106
	30,746		Smiths Group plc		625
	40,978		St. James’s Place plc		545
	606,146	*	Standard Chartered plc		5,798
	150,400		Standard Life plc		669
	34,391		Tate & Lyle plc		330
	4,156,443		Taylor Wimpey plc		10,054
	100,086	*	TechnipFMC plc		3,253
	9,197,734	*	Tesco plc		21,406
	517,929		Travis Perkins plc		9,826
	397,484		Unilever NV		19,747
	98,162		Unilever plc		4,842
	52,695		United Utilities Group plc		656
	1,991,100		Vesuvius plc		12,985
	479,720		Virgin Money Holdings UK plc		1,927
	21,168,555		Vodafone Group plc		55,165
	16,111		Weir Group plc		388
	201,550		Whitbread plc		10,001
	61,463		William Hill plc		224
	171,673		WM Morrison Supermarkets plc		517
	139,459	g	Worldpay Group plc		516
	2,262,975		WPP plc		49,602
			TOTAL UNITED KINGDOM		1,025,783
UNITED STATES - 59.5%
	413,790		3M Co		79,170
	22,838		A.O. Smith Corp		1,168
	191,200		Aaron’s, Inc		5,686
	1,997,527		Abbott Laboratories		88,710
	388,422		AbbVie, Inc		25,310
	27,878		Abercrombie & Fitch Co (Class A)		333
	179,225		Accenture plc		21,485
	281,879		Activision Blizzard, Inc		14,054
	9,507		Acuity Brands, Inc		1,939
	146	*	Adient plc		11
	88,592	*	Adobe Systems, Inc		11,528

214

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	23,259		Advance Auto Parts, Inc	$	3,448
	492,784	*	Advanced Micro Devices, Inc		7,170
	411	*	AdvanSix, Inc		11
	205,650		AES Corp		2,299
	251,925		Aetna Inc		32,133
	11,311		Affiliated Managers Group, Inc		1,854
	89,110		Aflac, Inc		6,453
	31,194		AGCO Corp		1,877
	207,753		Agilent Technologies, Inc		10,984
	238,306		AGNC Investment Corp		4,740
	7,000		Agree Realty Corp		336
	170,498		Air Products & Chemicals, Inc		23,067
	5,125,280	*	AK Steel Holding Corp		36,851
	35,079	*	Akamai Technologies, Inc		2,094
	48,300		Alaska Air Group, Inc		4,454
	136,269		Albemarle Corp		14,395
	550		Alcoa Corp		19
	21,576		Alexandria Real Estate Equities, Inc		2,385
	374,798	*	Alexion Pharmaceuticals, Inc		45,441
	16,174	*	Align Technology, Inc		1,855
	24,257	*	Alkermes plc		1,419
	6,895	*	Alleghany Corp		4,238
	16,000		Allegiant Travel Co		2,564
	383,578		Allergan plc		91,645
	15,223		Alliance Data Systems Corp		3,791
	90,379		Alliant Energy Corp		3,580
	80,000		Allied World Assurance Co Holdings Ltd		4,248
	188,616		Allstate Corp		15,370
	67,463		Ally Financial, Inc		1,372
	4,520	*	Alnylam Pharmaceuticals, Inc		232
	132,136	*	Alphabet, Inc (Class A)		112,025
	190,865	*	Alphabet, Inc (Class C)		158,334
	478,771		Altria Group, Inc		34,194
	255,263	*	Amazon.com, Inc		226,301
	112,924	*	AMC Networks, Inc		6,626
	120,000		Amdocs Ltd		7,319
	5,538		Amerco, Inc		2,111
	87,501		Ameren Corp		4,777
	21,074		American Airlines Group, Inc		891
	232,957		American Electric Power Co, Inc		15,638
	496,670		American Express Co		39,292
	120,000		American Financial Group, Inc		11,450
	35,000		American Homes 4 Rent		804
	536,522		American International Group, Inc		33,495
	90,370		American Tower Corp		10,984
	87,144		American Water Works Co, Inc		6,777
	155,428		Ameriprise Financial, Inc		20,156
	75,365		AmerisourceBergen Corp		6,670
	41,876		Ametek, Inc		2,265
	189,148		Amgen, Inc		31,034
	71,725		Amphenol Corp (Class A)		5,105
	459,289		Anadarko Petroleum Corp		28,476
	90,381		Analog Devices, Inc		7,407

215

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	642,041		Annaly Capital Management, Inc	$	7,133
	31,639	*	Ansys, Inc		3,381
	37,304	*	Antero Resources Corp		851
	151,552		Anthem, Inc		25,064
	58,502		Aon plc		6,944
	63,768		Apache Corp		3,277
	33,256		Apartment Investment & Management Co (Class A)		1,475
	2,753,779		Apple, Inc		395,608
	901,932		Applied Materials, Inc		35,085
	46,566		ARAMARK Holdings Corp		1,717
	82,484	*	Arch Capital Group Ltd		7,817
	111,331		Archer Daniels Midland Co		5,126
	68,895		Arconic, Inc		1,815
	15,473	*	Arrow Electronics, Inc		1,136
	37,452		Arthur J. Gallagher & Co		2,118
	42,000	*	Asbury Automotive Group, Inc		2,524
	148,708		Ashland Global Holdings, Inc		18,412
	24,176		Assurant, Inc		2,313
	3,142,780		AT&T, Inc		130,583
	159,974	*	Athene Holding Ltd		7,997
	15,635		Atmos Energy Corp		1,235
	93,593	*	Autodesk, Inc		8,093
	121,165		Automatic Data Processing, Inc		12,406
	30,661	*	Autonation, Inc		1,297
	9,850	*	AutoZone, Inc		7,122
	49,644		AvalonBay Communities, Inc		9,115
	32,363		Avery Dennison Corp		2,608
	28,217		Avnet, Inc		1,291
	168,708	*	Axalta Coating Systems Ltd		5,432
	66,336		Axis Capital Holdings Ltd		4,446
	501,811		Baker Hughes, Inc		30,018
	52,029		Ball Corp		3,864
	8,616,194		Bank of America Corp		203,256
	800,004		Bank of New York Mellon Corp		37,784
	30,302		Bard (C.R.), Inc		7,531
	700,326		Baxter International, Inc		36,319
	186,763		BB&T Corp		8,348
	28,578		BE Aerospace, Inc		1,832
	56,898		Becton Dickinson & Co		10,437
	92,457		Bed Bath & Beyond, Inc		3,648
	579,945	*	Berkshire Hathaway, Inc (Class B)		96,665
	736,688	*	Berry Plastics Group, Inc		35,781
	357,002		Best Buy Co, Inc		17,547
	80,017	*	Biogen Idec, Inc		21,878
	78,756	*	BioMarin Pharmaceutical, Inc		6,913
	9,072	*	Bioverativ, Inc		494
	41,010		BlackRock, Inc		15,728
	166,711		Boeing Co		29,485
	38,822		BorgWarner, Inc		1,622
	68,018		Boston Properties, Inc		9,006
	724,348	*	Boston Scientific Corp		18,015
	90,000	e	Brinker International, Inc		3,956
	486,138		Bristol-Myers Squibb Co		26,436

216

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	60,977		Brixmor Property Group, Inc	$	1,309
	345,104		Broadcom Ltd		75,564
	18,013		Broadridge Financial Solutions, Inc		1,224
	69,086		Brown-Forman Corp (Class B)		3,190
	74,590		Bunge Ltd		5,912
	57,337		CA, Inc		1,819
	203,498		Cabot Oil & Gas Corp		4,866
	97,000	*	CACI International, Inc (Class A)		11,378
	43,362	*	Cadence Design Systems, Inc		1,362
	182,636	*	Callon Petroleum Co		2,403
	109,964	*	Calpine Corp		1,215
	43,401		Camden Property Trust		3,492
	75,273		Campbell Soup Co		4,309
	186,399		Capital One Financial Corp		16,153
	87,084		Cardinal Health, Inc		7,102
	35,480	*	Carmax, Inc		2,101
	97,635		Carnival Corp		5,752
	114,712		Carnival plc		6,575
	50,000		Carter’s, Inc		4,490
	439,097		Caterpillar, Inc		40,731
	52,102	*	CBRE Group, Inc		1,813
	372,460		CBS Corp (Class B)		25,834
	19,985		CDK Global, Inc		1,299
	258,844		CDW Corp		14,938
	27,702		Celanese Corp (Series A)		2,489
	286,030	*	Celgene Corp		35,591
	161,186	*	Centene Corp		11,486
	190,768		Centerpoint Energy, Inc		5,259
	130,522	e	CenturyTel, Inc		3,076
	92,934	*	Cerner Corp		5,469
	66,704		CF Industries Holdings, Inc		1,958
	62,579		CH Robinson Worldwide, Inc		4,837
	184,328		Charles Schwab Corp		7,522
	80,014	*	Charter Communications, Inc		26,190
	40,000		Chemed Corp		7,308
	200,000		Chemours Co		7,700
	48,342	*	Cheniere Energy, Inc		2,285
	928,633		Chevron Corp		99,707
	10,477	*	Chipotle Mexican Grill, Inc (Class A)		4,668
	520,475		Chubb Ltd		70,915
	114,336		Church & Dwight Co, Inc		5,702
	1,813,631	*	Ciena Corp		42,820
	631,076		Cigna Corp		92,446
	39,535		Cimarex Energy Co		4,724
	54,031		Cincinnati Financial Corp		3,905
	35,284		Cintas Corp		4,465
	80,000	*	Cirrus Logic, Inc		4,855
	3,651,367		Cisco Systems, Inc		123,416
	233,469		CIT Group, Inc		10,023
	813,011		Citigroup, Inc		48,634
	369,568		Citizens Financial Group, Inc		12,769
	70,877	*	Citrix Systems, Inc		5,910
	260,465	*	Cliffs Natural Resources, Inc		2,138

217

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	60,577		Clorox Co	$	8,168
	115,760		CME Group, Inc		13,752
	109,334		CMS Energy Corp		4,892
	113,631		Coach, Inc		4,696
	999,026		Coca-Cola Co		42,399
	119,929	*	Cognizant Technology Solutions Corp (Class A)		7,138
	69,000	*	Colfax Corp		2,709
	303,499		Colgate-Palmolive Co		22,213
	83,253		Colony NorthStar, Inc		1,075
	24,000		Colony Starwood Homes		815
	4,797,035		Comcast Corp (Class A)		180,321
	181,329		Comerica, Inc		12,436
	200,000	*	CommScope Holding Co, Inc		8,342
	151,747		Computer Sciences Corp		10,472
	1,346,339		ConAgra Foods, Inc		54,311
	517,252	*	Concho Resources, Inc		66,384
	22,654	*	Conduent, Inc		380
	201,599		ConocoPhillips		10,054
	300,000		Conseco, Inc		6,150
	127,041		Consolidated Edison, Inc		9,866
	56,729		Constellation Brands, Inc (Class A)		9,194
	246,261	*	Continental Resources, Inc		11,185
	25,438		Cooper Cos, Inc		5,085
	27,559	e	Core Laboratories NV		3,184
	152,262		Corning, Inc		4,111
	5,108	*	CoStar Group, Inc		1,058
	353,761		Costco Wholesale Corp		59,322
	80,912		Coty, Inc		1,467
	22,500	*,e	Credit Acceptance Corp		4,487
	130,873		Crown Castle International Corp		12,361
	48,992	*	Crown Holdings, Inc		2,594
	120,000		CSRA, Inc		3,515
	295,141		CSX Corp		13,739
	14,000		CubeSmart		363
	210,971		Cummins, Inc		31,899
	239,220		CVS Health Corp		18,779
	220,302	*	Danaher Corp		18,842
	61,475		Darden Restaurants, Inc		5,144
	76,937	*	DaVita, Inc		5,229
	20,000		DDR Corp		251
	84,627		Deere & Co		9,212
	443,016		Delek US Holdings, Inc		10,752
	97,330	*	Dell Technologies, Inc-VMware Inc		6,237
	344,767		Delphi Automotive plc		27,750
	130,077		Delta Air Lines, Inc		5,978
	110,000		Deluxe Corp		7,939
	60,163		Dentsply Sirona, Inc		3,757
	73,823		Devon Energy Corp		3,080
	21,679	*	DexCom, Inc		1,837
	149,423	*	Diamondback Energy, Inc		15,497
	35,311		DiamondRock Hospitality Co		394
	56,865		Dick’s Sporting Goods, Inc		2,767
	53,660		Digital Realty Trust, Inc		5,709

218

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	182,844		Discover Financial Services	$	12,505
	68,665	*,e	Discovery Communications, Inc (Class A)		1,997
	80,963	*	Discovery Communications, Inc (Class C)		2,292
	77,199	*	DISH Network Corp (Class A)		4,901
	88,847		Dollar General Corp		6,195
	72,408	*	Dollar Tree, Inc		5,681
	153,519		Dominion Resources, Inc		11,908
	7,623		Domino’s Pizza, Inc		1,405
	165,169		Dover Corp		13,271
	1,373,767		Dow Chemical Co		87,289
	84,106		DR Horton, Inc		2,802
	59,864		Dr Pepper Snapple Group, Inc		5,862
	113,981		DTE Energy Co		11,639
	171,102		Duke Energy Corp		14,032
	144,893		Duke Realty Corp		3,806
	15,554		Dun & Bradstreet Corp		1,679
	978,212	*	E*TRADE Financial Corp		34,130
	25,937		Eastman Chemical Co		2,096
	77,050		Eaton Corp		5,713
	27,923		Eaton Vance Corp		1,255
	609,369	*	eBay, Inc		20,457
	221,657		Ecolab, Inc		27,782
	20,484	*	Edgewell Personal Care Co		1,498
	100,553		Edison International		8,005
	7,000		Education Realty Trust, Inc		286
	92,612	*	Edwards Lifesciences Corp		8,712
	149,210		EI du Pont de Nemours & Co		11,986
	82,954	*	Electronic Arts, Inc		7,426
	1,154,140		Eli Lilly & Co		97,075
	118,031		Emerson Electric Co		7,065
	17,832	*	Endo International plc		199
	91,314		Entergy Corp		6,936
	24,602	*	Envision Healthcare Corp		1,509
	1,203,131		EOG Resources, Inc		117,365
	48,247		EQT Corp		2,948
	40,341		Equifax, Inc		5,516
	13,687		Equinix, Inc		5,480
	17,000		Equity Lifestyle Properties, Inc		1,310
	136,854		Equity Residential		8,515
	30,629		Essex Property Trust, Inc		7,092
	458,204		Estee Lauder Cos (Class A)		38,851
	21,652		Everest Re Group Ltd		5,062
	63,820		Eversource Energy		3,751
	322,558		Exelon Corp		11,606
	28,392		Expedia, Inc		3,582
	48,139		Expeditors International of Washington, Inc		2,719
	229,134	*	Express Scripts Holding Co		15,102
	35,382		Extra Space Storage, Inc		2,632
	1,595,615	d	Exxon Mobil Corp		130,856
	55,347	*	F5 Networks, Inc		7,891
	1,331,111	*	Facebook, Inc		189,084
	62,531		Fastenal Co		3,220
	37,522		Federal Realty Investment Trust		5,009

219

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	175,771		FedEx Corp	$	34,302
	74,337		Fidelity National Information Services, Inc		5,919
	217,434		Fifth Third Bancorp		5,523
	46,753	*	First Data Corp		725
	49,382		First Republic Bank		4,633
	137,937		FirstEnergy Corp		4,389
	54,416	*	Fiserv, Inc		6,275
	14,484	*	FleetCor Technologies, Inc		2,193
	1,246,581	*	Flextronics International Ltd		20,943
	59,949		Flir Systems, Inc		2,175
	23,278		Flowserve Corp		1,127
	23,455		Fluor Corp		1,234
	46,359		FMC Corp		3,226
	38,089		FNF Group		1,483
	163,196		Foot Locker, Inc		12,209
	587,467		Ford Motor Co		6,838
	39,612	*	Fortinet, Inc		1,519
	183,024		Fortive Corp		11,022
	33,046		Fortune Brands Home & Security, Inc		2,011
	30,000		Four Corners Property Trust, Inc		685
	57,873		Franklin Resources, Inc		2,439
	1,407,292	*	Freeport-McMoRan Copper & Gold, Inc (Class B)		18,801
	422,357	e	Frontier Communications Corp		904
	418,846		Gaming and Leisure Properties, Inc		13,998
	77,600		Gap, Inc		1,885
	43,687		Garmin Ltd		2,233
	17,595	*	Gartner, Inc		1,900
	382,151		General Dynamics Corp		71,539
	2,087,773		General Electric Co		62,216
	161,939		General Mills, Inc		9,556
	4,461,000	*,m	General Motors Co		0
	29,845,445	*,m	General Motors Co		0
	26,439,985	*,m	General Motors Co		0
	61,921,000	*,e,m	General Motors Co		0
	13,592,224	*,m	General Motors Co		0
	18,159,000	*,m	General Motors Co		0
	19,417,463	*,m	General Motors Co		0
	69,850,000	*,m	General Motors Co		0
	221,767		General Motors Co		7,842
	530,757	*,m	General Motors Co		0
	18,106,794	*,m	General Motors Co		0
	32,773		Genuine Parts Co		3,029
	214,424		GGP, Inc		4,970
	232,821		Gilead Sciences, Inc		15,813
	31,488		Global Payments, Inc		2,540
	276,908		Goldman Sachs Group, Inc		63,611
	309,906		Goodyear Tire & Rubber Co		11,157
	56,352	*,e	GrubHub, Inc		1,853
	61,366		H&R Block, Inc		1,427
	182,265		Halliburton Co		8,969
	126,277	e	Hanesbrands, Inc		2,622
	50,633		Harley-Davidson, Inc		3,063

220

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	31,424		Harris Corp	$	3,497
	187,737		Hartford Financial Services Group, Inc		9,025
	46,803		Hasbro, Inc		4,672
	310,112	*	HCA Holdings, Inc		27,597
	203,927		HCP, Inc		6,379
	479,498	*	HD Supply Holdings, Inc		19,719
	35,000		Healthcare Trust of America, Inc		1,101
	170,000		Healthsouth Corp		7,278
	22,129	e	Helmerich & Payne, Inc		1,473
	30,453	*	Henry Schein, Inc		5,176
	180,000		Herman Miller, Inc		5,679
	58,913		Hershey Co		6,436
	45,725		Hess Corp		2,204
	255,245		Hewlett Packard Enterprise Co		6,049
	111,243		Hilltop Holdings, Inc		3,056
	4,209	*	Hilton Grand Vacations, Inc		121
	42,962		Hilton Worldwide Holdings, Inc		2,512
	52,705		HollyFrontier Corp		1,494
	344,473	*	Hologic, Inc		14,657
	675,615		Home Depot, Inc		99,201
	511,770		Honeywell International, Inc		63,905
	86,626		Hormel Foods Corp		3,000
	212,928		Host Marriott Corp		3,973
	262,715		HP, Inc		4,697
	35,000		Hudson Pacific Properties		1,212
	61,209		Humana, Inc		12,618
	1,622,427		Huntington Bancshares, Inc		21,724
	67,245		Huntington Ingalls		13,465
	40,000	*	IAC/InterActiveCorp		2,949
	13,760	*	Idexx Laboratories, Inc		2,127
	120,707	*	IHS Markit Ltd		5,064
	60,030		Illinois Tool Works, Inc		7,952
	32,813	*	Illumina, Inc		5,599
	103,025	*	Imax Corp		3,503
	40,757	*	Incyte Corp		5,448
	241,238		Ingersoll-Rand plc		19,617
	56,200		Ingredion, Inc		6,768
	964,228		Intel Corp		34,780
	151,144		IntercontinentalExchange Group, Inc		9,049
	42,000		InterDigital, Inc		3,625
	159,982		International Business Machines Corp		27,859
	28,180		International Flavors & Fragrances, Inc		3,735
	150,000		International Game Technology plc		3,555
	91,299		International Paper Co		4,636
	772,057		Interpublic Group of Cos, Inc		18,969
	37,263		Intuit, Inc		4,322
	20,415	*	Intuitive Surgical, Inc		15,647
	63,717		Invesco Ltd		1,952
	147,899		Investors Bancorp, Inc		2,127
	23,000	*	Invitation Homes, Inc		502
	53,265		Iron Mountain, Inc		1,900
	7,456		Iron Mountain, Inc (CDI)		262
	18,400		iShares Dow Jones US Real Estate Index Fund		1,444

221

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	223,426		iShares MSCI Canada Index Fund	$	6,006
	980,772		iShares MSCI EAFE Index Fund		61,092
	140,000		ITT, Inc		5,743
	35,709		J.B. Hunt Transport Services, Inc		3,276
	42,848		J.M. Smucker Co		5,617
	28,188		Jacobs Engineering Group, Inc		1,558
	50,443	*	Jazz Pharmaceuticals plc		7,321
	1,048,096		Johnson & Johnson		130,540
	144,585		Johnson Controls International plc		6,090
	10,218		Jones Lang LaSalle, Inc		1,139
	1,908,765		JPMorgan Chase & Co		167,666
	336,538		Juniper Networks, Inc		9,366
	68,288		Kansas City Southern Industries, Inc		5,856
	87,553		Kellogg Co		6,357
	102,802		Kennametal, Inc		4,033
	268,769		Keycorp		4,779
	17,000		Kilroy Realty Corp		1,225
	114,256		Kimberly-Clark Corp		15,040
	119,758		Kimco Realty Corp		2,645
	840,112		Kinder Morgan, Inc		18,264
	105,529		Kla-Tencor Corp		10,033
	231,991		Kohl’s Corp		9,236
	130,000		Korn/Ferry International		4,094
	365,802		Kraft Heinz Co		33,218
	284,189		Kroger Co		8,381
	55,110		L Brands, Inc		2,596
	17,808		L3 Technologies, Inc		2,943
	110,948	*	Laboratory Corp of America Holdings		15,918
	229,945		Lam Research Corp		29,516
	32,214		Lamb Weston Holdings, Inc		1,355
	125,816		Las Vegas Sands Corp		7,180
	107,275		Lear Corp		15,188
	48,243		Leggett & Platt, Inc		2,428
	93,228		Leidos Holdings, Inc		4,768
	37,770		Lennar Corp (Class A)		1,933
	76,242		Leucadia National Corp		1,982
	48,567	*	Level 3 Communications, Inc		2,779
	288	*	Liberty Braves Group (Class A)		7
	16,573	*	Liberty Broadband Corp (Class C)		1,432
	80,759	*	Liberty Interactive Corp		1,617
	81,629		Liberty Property Trust		3,147
	58,446	*	Liberty SiriusXM Group (Class A)		2,275
	31,034	*	Liberty SiriusXM Group (Class C)		1,203
	244,414		Lincoln National Corp		15,997
	84,451	*	LKQ Corp		2,472
	51,968		Lockheed Martin Corp		13,907
	94,373		Loews Corp		4,414
	8,089		LogMeIn, Inc		789
	236,796		Lowe’s Companies, Inc		19,467
	72,397	*	Lululemon Athletica, Inc		3,755
	45,847	*	Lumentum Holdings, Inc		2,446
	53,911		LyondellBasell Industries AF S.C.A		4,916
	63,512		M&T Bank Corp		9,827

222

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	49,813		Macerich Co	$	3,208
	12,110		Macquarie Infrastructure Co LLC		976
	107,742		Macy’s, Inc		3,193
	16,456	*	Mallinckrodt plc		733
	109,363		Manpower, Inc		11,217
	152,727		Marathon Oil Corp		2,413
	82,233		Marathon Petroleum Corp		4,156
	6,091	*	Markel Corp		5,944
	69,531		Marriott International, Inc (Class A)		6,548
	111,743		Marsh & McLennan Cos, Inc		8,257
	13,923		Martin Marietta Materials, Inc		3,039
	168,476		Masco Corp		5,726
	125,000	*	Mastec, Inc		5,006
	358,275		MasterCard, Inc (Class A)		40,295
	448,868	*	Matador Resources Co		10,679
	1,369,067		Mattel, Inc		35,062
	78,892		Maxim Integrated Products, Inc		3,547
	51,015		McCormick & Co, Inc		4,977
	522,848		McDonald’s Corp		67,766
	79,001		McKesson Corp		11,713
	712		MDC Holdings, Inc		21
	68,536		Mead Johnson Nutrition Co		6,105
	61,336	*	MEDNAX, Inc		4,255
	290,671		Medtronic plc		23,416
	788,121		Merck & Co, Inc		50,077
	1,264,562	*,e	Merrimack Pharmaceuticals, Inc		3,895
	581,549		Metlife, Inc		30,717
	9,270	*	Mettler-Toledo International, Inc		4,439
	775,745		MGM Growth Properties LLC		20,984
	1,259,581		MGM Resorts International		34,513
	104,537	*	Michael Kors Holdings Ltd		3,984
	200,000	*	Michaels Cos, Inc		4,478
	42,818		Microchip Technology, Inc		3,159
	160,359	*	Micron Technology, Inc		4,634
	3,890,900		Microsoft Corp		256,255
	27,703		Mid-America Apartment Communities, Inc		2,818
	8,890	*	Middleby Corp		1,213
	13,106	*	Mobileye NV		805
	66,207	*	Mohawk Industries, Inc		15,194
	230,069		Molson Coors Brewing Co (Class B)		22,020
	1,351,815		Mondelez International, Inc		58,236
	70,000		Monogram Residential Trust, Inc		698
	135,886		Monsanto Co		15,382
	567,036	*	Monster Beverage Corp		26,180
	31,913		Moody’s Corp		3,576
	1,001,791		Morgan Stanley		42,917
	83,714		Mosaic Co		2,443
	63,782		Motorola, Inc		5,499
	14,026		MSCI, Inc (Class A)		1,363
	52,259		Murphy Oil Corp		1,494
	854,902	*	Mylan NV		33,333
	42,340		NASDAQ OMX Group, Inc		2,941
	110,548		National Oilwell Varco, Inc		4,432

223

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	22,964		National Retail Properties, Inc	$	1,002
	49,329		Navient Corp		728
	140,000	*	Nektar Therapeutics		3,286
	157,004		NetApp, Inc		6,571
	86,673	*	NetFlix, Inc		12,811
	257,789		New York Community Bancorp, Inc		3,601
	410,422		Newell Rubbermaid, Inc		19,360
	31,456	*	Newfield Exploration Co		1,161
	446,573		Newmont Mining Corp		14,719
	64,715		News Corp		841
	243,181		NextEra Energy, Inc		31,217
	53,472		Nielsen NV		2,209
	1,059,948		Nike, Inc (Class B)		59,071
	51,668		NiSource, Inc		1,229
	72,790		Noble Energy, Inc		2,500
	73,741	e	Nordstrom, Inc		3,434
	187,323		Norfolk Southern Corp		20,975
	55,048		Northern Trust Corp		4,766
	138,442		Northrop Grumman Corp		32,927
	41,164	*	Norwegian Cruise Line Holdings Ltd		2,088
	60,574		NRG Energy, Inc		1,133
	152,502	*	Nuance Communications, Inc		2,640
	65,415		Nucor Corp		3,907
	222,774		NVIDIA Corp		24,267
	7,445	*	NVR, Inc		15,686
	272,932		Occidental Petroleum Corp		17,293
	350,000	*,e	Oclaro, Inc		3,437
	76,438		OGE Energy Corp		2,674
	658,094		Olin Corp		21,632
	56,014		Omnicom Group, Inc		4,829
	42,446		Oneok, Inc		2,353
	998,415		Oracle Corp		44,539
	18,514	*	O’Reilly Automotive, Inc		4,996
	454,207		Owens Corning, Inc		27,875
	55,238		Paccar, Inc		3,712
	19,126		Packaging Corp of America		1,752
	109,520	*	Palo Alto Networks, Inc		12,341
	90,000	*	Parexel International Corp		5,680
	9,108		Park Hotels & Resorts, Inc		234
	355,797		Parker Hannifin Corp		57,041
	958,456	*	Parsley Energy, Inc		31,159
	61,018	e	Patterson Cos, Inc		2,760
	94,296		Paychex, Inc		5,554
	1,217,248	*	PayPal Holdings, Inc		52,366
	223,822		People’s United Financial, Inc		4,074
	540,517		PepsiCo, Inc		60,462
	32,443		Perrigo Co plc		2,154
	2,791,792		Pfizer, Inc		95,507
	564,348		PG&E Corp		37,450
	672,880		Philip Morris International, Inc		75,968
	75,099		Phillips 66		5,949
	31,808		Phillips-Van Heusen Corp		3,291
	400,000		Pilgrim’s Pride Corp		9,002

224

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	591,131		Pinnacle Foods, Inc	$	34,209
	41,561		Pinnacle West Capital Corp		3,465
	101,047		Pioneer Natural Resources Co		18,818
	387,000		Plains All American Pipeline LP		12,233
	156,442		Plains GP Holdings LP		4,890
	155,430		PNC Financial Services Group, Inc		18,689
	24,186	e	Polaris Industries, Inc		2,027
	144,879		PPG Industries, Inc		15,224
	197,030		PPL Corp		7,367
	87,474		Praxair, Inc		10,374
	14,162	*	Priceline.com, Inc		25,208
	46,997		Principal Financial Group		2,966
	710,014		Procter & Gamble Co		63,795
	390,311		Progressive Corp		15,292
	193,079		Prologis, Inc		10,017
	82,133		Prudential Financial, Inc		8,762
	170,902		Public Service Enterprise Group, Inc		7,579
	45,323		Public Storage, Inc		9,922
	70,524		Pulte Homes, Inc		1,661
	21,677	*	QIAGEN NV		629
	18,993	*	Qorvo, Inc		1,302
	16,000		QTS Realty Trust, Inc		780
	253,462		Qualcomm, Inc		14,534
	19,594	*	Quality Care Properties, Inc		370
	112,275		Quest Diagnostics, Inc		11,024
	43,449	*	Quintiles Transnational Holdings, Inc		3,499
	19,609		Ralph Lauren Corp		1,600
	24,705	*,e	Ramaco Resources, Inc		239
	71,174		Range Resources Corp		2,071
	26,921		Raymond James Financial, Inc		2,053
	246,635		Raytheon Co		37,612
	32,028		Realogy Holdings Corp		954
	102,221		Realty Income Corp		6,085
	30,274	*	Red Hat, Inc		2,619
	71,422		Regency Centers Corp		4,742
	16,078	*	Regeneron Pharmaceuticals, Inc		6,230
	308,491		Regions Financial Corp		4,482
	69,999		Reinsurance Group of America, Inc (Class A)		8,888
	125,569		Republic Services, Inc		7,887
	47,092		Resmed, Inc		3,389
	25,000		Retail Opportunities Investment Corp		526
	70,000	*	Retrophin, Inc		1,292
	85,000		Rexford Industrial Realty, Inc		1,914
	209,035		Reynolds American, Inc		13,173
	215,957	*	Rite Aid Corp		918
	45,499		Robert Half International, Inc		2,222
	23,551		Rockwell Automation, Inc		3,667
	39,958		Rockwell Collins, Inc		3,882
	91,590		Roper Industries, Inc		18,912
	90,259		Ross Stores, Inc		5,945
	28,140		Royal Caribbean Cruises Ltd		2,761
	735,530	*	RSP Permian, Inc		30,473
	45,653		S&P Global, Inc		5,969

225

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	29,304		Sabre Corp	$	621
	754,367	*	salesforce.com, Inc		62,228
	657,600		Samsonite International		2,396
	200,000	*	Sanmina Corp		8,120
	49,999	*	SBA Communications Corp		6,018
	61,304		SCANA Corp		4,006
	732,141		Schlumberger Ltd		57,180
	39,120		Scripps Networks Interactive (Class A)		3,066
	44,615		Seagate Technology, Inc		2,049
	41,291		Sealed Air Corp		1,799
	15,095	*	Seattle Genetics, Inc		949
	54,059		SEI Investments Co		2,727
	122,543		Sempra Energy		13,541
	48,670	*	Sensata Technologies Holding BV		2,125
	146,100	*	ServiceMaster Global Holdings, Inc		6,100
	172,384	*	ServiceNow, Inc		15,078
	19,082		Sherwin-Williams Co		5,919
	27,817		Shire plc (ADR)		4,847
	19,295	*	Signature Bank		2,863
	27,887		Signet Jewelers Ltd		1,932
	45,000	*	Silicon Laboratories, Inc		3,310
	113,222		Simon Property Group, Inc		19,478
	480,870	e	Sirius XM Holdings, Inc		2,476
	29,130		Skyworks Solutions, Inc		2,854
	54,800		SL Green Realty Corp		5,843
	17,331		Snap-On, Inc		2,923
	267,685		Southern Co		13,325
	177,797		Southwest Airlines Co		9,558
	244,416	*	Southwestern Energy Co		1,997
	4,198		Spectrum Brands, Inc		584
	128,400		Spirit Aerosystems Holdings, Inc (Class A)		7,437
	60,000		Spirit Realty Capital, Inc		608
	21,727	*	Splunk, Inc		1,353
	300,284	*	Sprint Corp		2,606
	41,467		Stanley Works		5,510
	419,898		Staples, Inc		3,682
	461,134		Starbucks Corp		26,926
	103,397		State Street Corp		8,231
	190,000		Steel Dynamics, Inc		6,604
	43,659	*	Stericycle, Inc		3,619
	93,694		Stryker Corp		12,335
	14,000		Sun Communities, Inc		1,125
	45,000		Sunstone Hotel Investors, Inc		690
	584,079		SunTrust Banks, Inc		32,300
	586,074		Symantec Corp		17,981
	421,246		Synchrony Financial		14,449
	70,062	*	Synopsys, Inc		5,054
	147,903		Sysco Corp		7,679
	45,881		T Rowe Price Group, Inc		3,127
	28,023		Targa Resources Investments, Inc		1,679
	134,619		Target Corp		7,430
	1,245	*,e	Taro Pharmaceutical Industries Ltd		145
	48,267		TD Ameritrade Holding Corp		1,876

226

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	184,496		TE Connectivity Ltd	$	13,754
	31,065		TEGNA, Inc		796
	6,827		Teleflex, Inc		1,323
	98,892		Terex Corp		3,105
	14,000		Terreno Realty Corp		392
	38,819	*,e	TESARO, Inc		5,973
	22,995	*,e	Tesla Motors, Inc		6,400
	24,221		Tesoro Corp		1,963
	167,575		Texas Instruments, Inc		13,500
	276,469		Textron, Inc		13,157
	102,469		Thermo Fisher Scientific, Inc		15,739
	69,734		Thomson Corp (Toronto)		3,016
	24,252		Tiffany & Co		2,311
	551,022		Time Warner, Inc		53,840
	179,381		TJX Companies, Inc		14,185
	312,091	*	T-Mobile US, Inc		20,158
	37,884	*	Toll Brothers, Inc		1,368
	53,786		Torchmark Corp		4,144
	73,312		Total System Services, Inc		3,919
	21,471		Tractor Supply Co		1,481
	21,783		TransDigm Group, Inc		4,796
	107,280	*,e	Transocean Ltd (NYSE)		1,336
	67,895		Travelers Cos, Inc		8,184
	56,857	*	Trimble Navigation Ltd		1,820
	19,132	*	TripAdvisor, Inc		826
	214,019		Twenty-First Century Fox, Inc		6,932
	98,984		Twenty-First Century Fox, Inc (Class B)		3,146
	134,025	*	Twitter, Inc		2,004
	89,076		Tyson Foods, Inc (Class A)		5,497
	118,532		UDR, Inc		4,298
	26,168		UGI Corp		1,293
	30,567	*	Ulta Salon Cosmetics & Fragrance, Inc		8,719
	54,974	*	Under Armour, Inc		1,006
	54,533	*,e	Under Armour, Inc (Class A)		1,079
	930,449		Union Pacific Corp		98,553
	64,680	*	United Continental Holdings, Inc		4,569
	135,889		United Parcel Service, Inc (Class B)		14,581
	226,306	*	United Rentals, Inc		28,300
	651,244		United States Steel Corp		22,019
	140,046		United Technologies Corp		15,715
	43,806	*	United Therapeutics Corp		5,930
	475,541		UnitedHealth Group, Inc		77,994
	38,005		Universal Health Services, Inc (Class B)		4,730
	61,746		UnumProvident Corp		2,895
	259,903		US Bancorp		13,385
	67,512	*	US Foods Holding Corp		1,889
	143,394	*	USG Corp		4,560
	15,498	*	Valeant Pharmaceuticals International, Inc		171
	76,528		Valero Energy Corp		5,073
	11,545		Valspar Corp		1,281
	50,000		Vanguard FTSE Developed Markets ETF		1,965
	84,272	*	Vantiv, Inc		5,404
	10,937	*	Varex Imaging Corp		367

227

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	40,733	*	Varian Medical Systems, Inc	$	3,712
	146,550		Ventas, Inc		9,532
	159,156		VEREIT, Inc		1,351
	28,467	*,e	VeriSign, Inc		2,480
	52,860	*	Verisk Analytics, Inc		4,289
	1,110,424		Verizon Communications, Inc		54,133
	587	*	Versum Materials, Inc		18
	96,901	*	Vertex Pharmaceuticals, Inc		10,596
	83,881		VF Corp		4,611
	458,757		Viacom, Inc (Class B)		21,387
	597,133		Visa, Inc (Class A)		53,067
	75,000	*	Visteon Corp		7,346
	142,089	*,e	VMware, Inc (Class A)		13,092
	63,997		Vornado Realty Trust		6,420
	31,935		Voya Financial, Inc		1,212
	25,186		Vulcan Materials Co		3,034
	97,670		W.R. Berkley Corp		6,898
	16,351		W.W. Grainger, Inc		3,806
	8,583	*	WABCO Holdings, Inc		1,008
	785,342		Walgreens Boots Alliance, Inc		65,223
	616,376		Wal-Mart Stores, Inc		44,428
	518,896		Walt Disney Co		58,838
	134,453		Waste Management, Inc		9,804
	26,308	*	Waters Corp		4,112
	613,642	*	Weatherford International Ltd		4,081
	108,301		WEC Energy Group, Inc		6,566
	3,306,238		Wells Fargo & Co		184,025
	75,419		Welltower, Inc		5,341
	21,597		Westar Energy, Inc		1,172
	44,664		Western Digital Corp		3,686
	118,590		Western Union Co		2,413
	18,902	e	Westinghouse Air Brake Technologies Corp		1,474
	284,208		Westlake Chemical Corp		18,772
	73,649		WestRock Co		3,832
	205,985		Weyerhaeuser Co		6,999
	11,717		Whirlpool Corp		2,007
	38,198	*	WhiteWave Foods Co (Class A)		2,145
	107,182		Whole Foods Market, Inc		3,185
	1,207,416		Williams Cos, Inc		35,727
	20,181		Willis Towers Watson plc		2,641
	25,507	*	Workday, Inc		2,124
	263,199	*	WPX Energy, Inc		3,524
	201,338		WR Grace & Co		14,035
	119,725		Wyndham Worldwide Corp		10,092
	63,324		Wynn Resorts Ltd		7,258
	467,882		Xcel Energy, Inc		20,797
	582,814		Xerox Corp		4,278
	57,166		Xilinx, Inc		3,309
	37,796		Xylem, Inc		1,898
	142,090	*	Yahoo!, Inc		6,594
	832,381	*	Yum China Holdings, Inc		22,641
	553,189		Yum! Brands, Inc		35,349
	24,556	*	Zayo Group Holdings, Inc		808

228

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

								VALUE
SHARES			COMPANY					(000)
	19,028	*,e	Zillow Group, Inc (Class C)					$	641
	92,097		Zimmer Holdings, Inc						11,246
	420,626		Zions Bancorporation						17,666
	380,478		Zoetis, Inc						20,306
			TOTAL UNITED STATES						11,177,662
URUGUAY - 0.2%
	4,395,596	*	Arcos Dorados Holdings, Inc						35,384
			TOTAL URUGUAY						35,384
			TOTAL COMMON STOCKS						18,570,420
			(Cost $16,479,229)
RIGHTS / WARRANTS - 0.0%
AUSTRALIA - 0.0%
	681,005	m	BGP Holdings plc						0
			TOTAL AUSTRALIA						0
GERMANY - 0.0%
	878,751	e	Deutsche Bank AG.						2,074
	286,976		Deutsche Bank AG.						687
			TOTAL GERMANY						2,761
			TOTAL RIGHTS / WARRANTS						2,761
			(Cost $0)
							MATURITY
PRINCIPAL			ISSUER	RATE			DATE
SHORT-TERM INVESTMENTS - 2.6%
GOVERNMENT AGENCY DEBT - 0.1%
$	24,400,000	d	Federal Home Loan Bank (FHLB)		0.700	%	04/05/17		24,399
			TOTAL GOVERNMENT AGENCY DEBT						24,399
TREASURY DEBT - 0.8%
	29,300,000	d	United States Treasury Bill		0.445		04/13/17		29,294
	64,200,000	d	United States Treasury Bill		0.501-0.726		04/27/17		64,169
	50,000,000	d	United States Treasury Bill		0.691		07/06/17		49,901
			TOTAL TREASURY DEBT						143,364
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.7%
CERTIFICATE OF DEPOSIT - 0.3%
	15,000,000		Bank of Montreal		0.750		04/03/17		15,000
	15,000,000		Bank of Nova Scotia		0.820		04/03/17		15,000
	15,000,000		Canadian Imperial Bank of Commerce		0.820		04/03/17		15,000
	15,000,000		National Australia Bank Ltd		0.790		04/03/17		15,000
			TOTAL CERTIFICATE OF DEPOSIT						60,000
GOVERNMENT AGENCY DEBT - 0.0%
	7,000,000		Federal National Mortgage Association (FNMA)		0.010		04/03/17		7,000
			TOTAL GOVERNMENT AGENCY DEBT						7,000
REPURCHASE AGREEMENT - 1.3%
	19,000,000	r	Barclays		0.780		04/03/17		19,000
	45,000,000	s	Calyon		0.800		04/03/17		45,000
	31,000,000	t	Citigroup		0.790		04/03/17		31,000

229

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

							MATURITY	VALUE
SHARES			COMPANY	RATE			DATE	(000)
$	7,000,000	u	JP Morgan		0.760	%	04/03/17	$	7,000
	25,000,000	v	Nomura		0.820		04/03/17		25,000
	65,000,000	w	Royal Bank of Scotland		0.770		04/06/17		65,000
	9,000,000	x	Royal Bank of Scotland		0.780		04/03/17		9,000
	35,000,000	y	Societe Generale		0.780		04/07/17		35,000
			TOTAL REPURCHASE AGREEMENT						236,000
VARIABLE RATE SECURITIES - 0.1%
	15,022,219	i	SLM Student Loan Trust		1.078		01/25/19		14,958
			TOTAL VARIABLE RATE SECURITIES						14,958
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						317,958
			TOTAL SHORT-TERM INVESTMENTS						485,721
			(Cost $485,790)
			TOTAL INVESTMENTS - 101.5%						19,058,902
			(Cost $16,965,019)
			OTHER ASSETS & LIABILITIES, NET - (1.5)%						(281,365	)
			NET ASSETS - 100.0%					$	18,777,537

Abbreviation(s):

ADR   American Depositary Receipt

ETF     Exchange Traded Fund

GDR    Global Depositary Receipt

REIT   Real Estate Investment Trust

*	Non-income producing
d	All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $300,597,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/17, the aggregate value of theses securities was $184,681,000 or 1.0% of net assets.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
m	Indicates a security that has been deemed illiquid.
r	Agreement with Barclays, 0.78% dated 3/31/17 to be repurchased at $19,000,000 on 4/03/17, collateralized by U.S. Government Agency Securities valued at $19,380,000.
s	Agreement with Calyon, 0.80% dated 3/31/17 to be repurchased at $45,000,000 on 4/03/17, collateralized by U.S. Government Agency Securities valued at $45,900,000.
t	Agreement with Citigroup 0.79% dated 3/31/17 to be repurchased at $31,000,000 on 4/03/17, collateralized by U.S. Government Agency Securities valued at $31,620,000.

230

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

u	Agreement with JP Morgan 0.76% dated 3/31/17 to be repurchased at $7,000,000 on 4/03/17, collateralized by U.S. Government Agency Securities valued at $7,143,000.
v	Agreement with Nomura 0.82% dated 3/31/17 to be repurchased at $25,000,000 on 4/03/17, collateralized by U.S. Government Agency Securities valued at $25,500,000.
w	Agreement with Royal Bank of Scotland 0.77% dated 3/30/17 to be repurchased at $65,000,000 on 4/06/17, collateralized by U.S. Government Agency Securities valued at $66,300,000.
x	Agreement with Royal Bank of Scotland 0.78% dated 3/31/17 to be repurchased at $9,000,000 on 4/03/17, collateralized by U.S. Government Agency Securities valued at $9,181,000.
y	Agreement with Societe Generale 0.78% dated 3/31/17 to be repurchased at $35,000,000 on 4/07/17, collateralized by U.S. Government Agency Securities valued at $35,700,000.
	Cost amounts are in thousands.

231

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

March 31, 2017

	VALUE			% OF
SECTOR	(000)			ASSETS
FINANCIALS	$	3,311,737			17.4	%
INFORMATION TECHNOLOGY		2,958,713			15.8
CONSUMER DISCRETIONARY		2,647,418			14.1
HEALTH CARE		2,138,459			11.4
INDUSTRIALS		2,093,559			11.2
CONSUMER STAPLES		1,562,942			8.3
ENERGY		1,326,677			7.1
MATERIALS		1,174,742			6.3
REAL ESTATE		461,238			2.5
TELECOMMUNICATION SERVICES		449,138			2.4
UTILITIES		448,558			2.4
SHORT-TERM INVESTMENTS		485,721			2.6
OTHER ASSETS & LIABILITES, NET		(281,365	)		(1.5	)
NET ASSETS	$	18,777,537			100.0	%

232

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND

GROWTH ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2017

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.1%
AUTOMOBILES & COMPONENTS - 1.2%
	53,933	*	Adient plc	$	3,919
	4,131		BorgWarner, Inc		173
	855,589		Delphi Automotive plc		68,866
	517,108		Gentex Corp		11,030
	871,800		Goodyear Tire & Rubber Co		31,385
	36,653		Harley-Davidson, Inc		2,217
	359,784		Lear Corp		50,938
	280,994	*,e	Tesla Motors, Inc		78,201
	9,222		Thor Industries, Inc		887
	228,432	*	Visteon Corp		22,375
			TOTAL AUTOMOBILES & COMPONENTS		269,991
BANKS - 1.2%
	4,254,090		Bank of America Corp		100,354
	772,856		Citizens Financial Group, Inc		26,702
	777		First Hawaiian, Inc		23
	123,101		First Republic Bank		11,548
	683,040		JPMorgan Chase & Co		59,998
	6,526	*	Signature Bank		968
	7,547	*	SVB Financial Group		1,405
	965,100		Wells Fargo & Co		53,718
	10,180	*	Western Alliance Bancorp		500
			TOTAL BANKS		255,216
CAPITAL GOODS - 6.2%
	744,375		3M Co		142,421
	128,204		A.O. Smith Corp		6,559
	8,424		Acuity Brands, Inc		1,719
	52,111		Air Lease Corp		2,019
	18,297		Allegion plc		1,385
	377,900		Allison Transmission Holdings, Inc		13,627
	102,164		Ametek, Inc		5,525
	19,838		BE Aerospace, Inc		1,272
	852,963		Boeing Co		150,855
	120,902		BWX Technologies, Inc		5,755
	79,661		Carlisle Cos, Inc		8,477
	649,228		CNH Industrial NV (NYSE)		6,259
	42,376		Deere & Co		4,613
	22,515		Donaldson Co, Inc		1,025
	225,533		Emerson Electric Co		13,500
	23,248		Equifax, Inc		3,179
	57,661		Fastenal Co		2,970
	15,284		Flowserve Corp		740
	17,099		Fortive Corp		1,030

233

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	391,697		Fortune Brands Home & Security, Inc	$	23,835
	234,689		General Dynamics Corp		43,934
	463,428		General Electric Co		13,810
	10,641		Graco, Inc		1,002
	274,519	*	HD Supply Holdings, Inc		11,290
	3,525		HEICO Corp		307
	7,532		HEICO Corp (Class A)		565
	1,311	*	Herc Holdings, Inc		64
	18,650		Hexcel Corp		1,017
	1,399,927		Honeywell International, Inc		174,809
	69,221		Hubbell, Inc		8,310
	190,903		Huntington Ingalls		38,226
	13,764		IDEX Corp		1,287
	57,947		Illinois Tool Works, Inc		7,676
	569,112		Ingersoll-Rand plc		46,280
	39,625		Johnson Controls International plc		1,669
	7,382		Lennox International, Inc		1,235
	7,306		Lincoln Electric Holdings, Inc		635
	212,272		Lockheed Martin Corp		56,804
	840,012		Masco Corp		28,552
	11,122	*	Middleby Corp		1,518
	62,954		MSC Industrial Direct Co (Class A)		6,469
	11,231		Nordson Corp		1,380
	442,232		Northrop Grumman Corp		105,181
	351,100		Owens Corning, Inc		21,547
	7,996		Paccar, Inc		537
	442,544		Parker Hannifin Corp		70,949
	399,594	*	Quanta Services, Inc		14,829
	104,329		Raytheon Co		15,910
	425,539		Rockwell Automation, Inc		66,261
	25,816		Rockwell Collins, Inc		2,508
	535,518		Roper Industries, Inc		110,579
	8,384		Snap-On, Inc		1,414
	486,187		Spirit Aerosystems Holdings, Inc (Class A)		28,160
	3,420		Stanley Works		454
	688,062		Textron, Inc		32,745
	21,589		Toro Co		1,348
	73,903		TransDigm Group, Inc		16,270
	288,024	*	United Rentals, Inc		36,017
	3,275		Valmont Industries, Inc		509
	14,710		W.W. Grainger, Inc		3,424
	10,001	*	WABCO Holdings, Inc		1,174
	5,047		Watsco, Inc		723
	9,229	*	Welbilt, Inc		181
	16,720	e	Westinghouse Air Brake Technologies Corp		1,304
	19,447		Xylem, Inc		977
			TOTAL CAPITAL GOODS		1,376,605
COMMERCIAL & PROFESSIONAL SERVICES - 1.2%
	17,438		Cintas Corp		2,207
	1,344	*	Clean Harbors, Inc		75
	172,961	*	Copart, Inc		10,711
	24,144		Covanta Holding Corp		379

234

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	2,520		Dun & Bradstreet Corp	$	272
	1,453,295	*	IHS Markit Ltd		60,966
	28,093		KAR Auction Services, Inc		1,227
	122,229		LSC Communications, Inc		3,075
	232,000		Manpower, Inc		23,796
	1,916,548		Nielsen NV		79,173
	32,234		Pitney Bowes, Inc		423
	26,103		Robert Half International, Inc		1,275
	18,948		Rollins, Inc		703
	6,478		RR Donnelley & Sons Co		78
	710,755	*	Stericycle, Inc		58,914
	10,928	*	TransUnion		419
	257,487	*	Verisk Analytics, Inc		20,892
	116,973		Waste Management, Inc		8,530
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		273,115
CONSUMER DURABLES & APPAREL - 2.0%
	13,606		Brunswick Corp		833
	424		CalAtlantic Group, Inc		16
	10,268		Carter’s, Inc		922
	11,852		Coach, Inc		490
	849,915		DR Horton, Inc		28,311
	76,434	e	Hanesbrands, Inc		1,587
	152,965		Hasbro, Inc		15,269
	24,172	*	Kate Spade & Co		561
	53,602		Leggett & Platt, Inc		2,697
	1,565		Lennar Corp (B Shares)		65
	19,064		Lennar Corp (Class A)		976
	73,644	*	Lululemon Athletica, Inc		3,820
	68,340		Mattel, Inc		1,750
	668,303	*	Michael Kors Holdings Ltd		25,469
	222,500	*	Mohawk Industries, Inc		51,061
	93,188		Newell Rubbermaid, Inc		4,396
	2,499,085		Nike, Inc (Class B)		139,274
	27,506	*	NVR, Inc		57,952
	11,709	e	Polaris Industries, Inc		981
	7,490		Pool Corp		894
	1,229,631		Pulte Homes, Inc		28,958
	61		Ralph Lauren Corp		5
	25,814	*	Skechers U.S.A., Inc (Class A)		709
	940,800		Sony Corp		31,751
	689,418	*,e	Tempur-Pedic International, Inc		32,030
	13,672	*	Toll Brothers, Inc		494
	340,614	*,e	TomTom NV		3,315
	9,118		Tupperware Corp		572
	33,491	*	Under Armour, Inc		613
	34,649	*,e	Under Armour, Inc (Class A)		685
	67,191		VF Corp		3,693
	2,672	*	Vista Outdoor, Inc		55
	62,447		Whirlpool Corp		10,699
			TOTAL CONSUMER DURABLES & APPAREL		450,903

235

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
CONSUMER SERVICES - 3.5%
	1,335,615		ARAMARK Holdings Corp	$	49,244
	471,627	e	Brinker International, Inc		20,733
	143,572	*	Chipotle Mexican Grill, Inc (Class A)		63,964
	4,317		Choice Hotels International, Inc		270
	41,207		Darden Restaurants, Inc		3,448
	9,760		Domino’s Pizza, Inc		1,799
	18,811		Dunkin Brands Group, Inc		1,029
	3,316		Extended Stay America, Inc		53
	281,000	*	Hilton Grand Vacations, Inc		8,053
	30,355		Hilton Worldwide Holdings, Inc		1,775
	104,334	*	Hyatt Hotels Corp		5,632
	1,100,000		ILG, Inc		23,056
	547,018		Las Vegas Sands Corp		31,218
	1,031,924		Marriott International, Inc (Class A)		97,187
	473,785		McDonald’s Corp		61,407
	4,664,237	g	Merlin Entertainments plc		28,037
	1,378,936		MGM Resorts International		37,783
	665,511	*	Norwegian Cruise Line Holdings Ltd		33,761
	4,386	*	Panera Bread Co (Class A)		1,149
	36,216		Service Corp International		1,118
	428,634	*	ServiceMaster Global Holdings, Inc		17,896
	14,449		Six Flags Entertainment Corp		860
	3,951,350		Starbucks Corp		230,719
	7,750		Vail Resorts, Inc		1,487
	117,567		Wendy’s		1,600
	56,845		Wyndham Worldwide Corp		4,791
	14,247		Wynn Resorts Ltd		1,633
	957,309	*	Yum China Holdings, Inc		26,039
	257,018		Yum! Brands, Inc		16,423
			TOTAL CONSUMER SERVICES		772,164
DIVERSIFIED FINANCIALS - 2.8%
	9,477		Affiliated Managers Group, Inc		1,554
	661,881		Ameriprise Financial, Inc		85,833
	6,195		Artisan Partners Asset Management, Inc		171
	15,592		CBOE Holdings, Inc		1,264
	1,890,536		Charles Schwab Corp		77,153
	513,124		CME Group, Inc		60,959
	78,700	*,e	Credit Acceptance Corp		15,694
	405,407		Discover Financial Services		27,726
	917	*	Donnelley Financial Solutions, Inc		18
	410,900	*	E*TRADE Financial Corp		14,336
	20,928		Eaton Vance Corp		941
	7,974		Factset Research Systems, Inc		1,315
	18,158		Federated Investors, Inc (Class B)		478
	48,000		Goldman Sachs Group, Inc		11,027
	246		Interactive Brokers Group, Inc (Class A)		8
	56,486		IntercontinentalExchange Group, Inc		3,382
	13,177		Invesco Ltd		404
	909,500	e	iShares Russell 1000 Growth Index Fund		103,501

236

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	2,343		Lazard Ltd (Class A)	$	108
	113,720		LPL Financial Holdings, Inc		4,529
	39,205		MarketAxess Holdings, Inc		7,350
	29,962		Moody’s Corp		3,357
	2,875		Morningstar, Inc		226
	129,369		MSCI, Inc (Class A)		12,573
	657,023		S&P Global, Inc		85,899
	24,797		SEI Investments Co		1,251
	2,315,500		Synchrony Financial		79,422
	36,759		T Rowe Price Group, Inc		2,505
	546,739		TD Ameritrade Holding Corp		21,246
			TOTAL DIVERSIFIED FINANCIALS		624,230
ENERGY - 1.5%
	51,621		Apache Corp		2,653
	61,700		Cabot Oil & Gas Corp		1,475
	3,277	*,e	Chesapeake Energy Corp		20
	3,317		Cimarex Energy Co		396
	678,773	*	Concho Resources, Inc		87,114
	191,883	*	Continental Resources, Inc		8,715
	8,572		Devon Energy Corp		358
	4,087	*	Diamondback Energy, Inc		424
	1,746,706		EOG Resources, Inc		170,391
	1,219	*,e	Extraction Oil & Gas, Inc		23
	9,272	*	Newfield Exploration Co		342
	42,342		Oneok, Inc		2,347
	1,174,225	*	Parsley Energy, Inc		38,174
	117,200		Pioneer Natural Resources Co		21,826
	90,026	*	Southwestern Energy Co		736
	24,746		Williams Cos, Inc		732
			TOTAL ENERGY		335,726
FOOD & STAPLES RETAILING - 1.0%
	8,000	e	Casey’s General Stores, Inc		898
	1,140,745		CVS Health Corp		89,548
	1,654,188		Kroger Co		48,782
	190,246	*	Rite Aid Corp		809
	26,961	*	Sprouts Farmers Market, Inc		623
	838,534		Sysco Corp		43,537
	7,692	*	US Foods Holding Corp		215
	486,520		Walgreens Boots Alliance, Inc		40,406
	113,797		Whole Foods Market, Inc		3,382
			TOTAL FOOD & STAPLES RETAILING		228,200
FOOD, BEVERAGE & TOBACCO - 4.6%
	792,471		Altria Group, Inc		56,598
	500,000		Associated British Foods plc		16,333
	3,437,100	*	Becle SAB de C.V.		6,071
	11,173	*	Blue Buffalo Pet Products, Inc		257
	13,415		Brown-Forman Corp		631
	34,798		Brown-Forman Corp (Class B)		1,607
	268,073		Campbell Soup Co		15,344

237

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	1,154,005		Coca-Cola Co	$	48,976
	398,028		ConAgra Foods, Inc		16,056
	32,761		Constellation Brands, Inc (Class A)		5,310
	1,449,709		Costco Wholesale Corp		243,102
	319,850		Davide Campari-Milano S.p.A.		3,710
	329,630		Dr Pepper Snapple Group, Inc		32,277
	31,150		Flowers Foods, Inc		605
	133,139		General Mills, Inc		7,857
	14,877	*	Hain Celestial Group, Inc		553
	27,747		Hershey Co		3,031
	47,122		Hormel Foods Corp		1,632
	315,533		Ingredion, Inc		38,000
	185,432		Kellogg Co		13,464
	389,480		Kraft Heinz Co		35,369
	272,695		Lamb Weston Holdings, Inc		11,470
	22,890		McCormick & Co, Inc		2,233
	13,813		Mead Johnson Nutrition Co		1,230
	325,000		Molson Coors Brewing Co (Class B)		31,106
	3,444,875	*	Monster Beverage Corp		159,050
	625,961		PepsiCo, Inc		70,020
	318,694		Philip Morris International, Inc		35,981
	28,309		Pilgrim’s Pride Corp		637
	574,197		Pinnacle Foods, Inc		33,229
	6,685	*	Post Holdings, Inc		585
	729,408		Reynolds American, Inc		45,967
	522,333		Suntory Beverage & Food Ltd		22,066
	3,211	*,e	TreeHouse Foods, Inc		272
	628,209		Tyson Foods, Inc (Class A)		38,767
	320,086		Unilever plc (ADR)		15,793
	33,929	*	WhiteWave Foods Co (Class A)		1,905
			TOTAL FOOD, BEVERAGE & TOBACCO		1,017,094
HEALTH CARE EQUIPMENT & SERVICES - 5.4%
	311,823		Abbott Laboratories		13,848
	46,116	*	Abiomed, Inc		5,774
	3,207	*,e	Acadia Healthcare Co, Inc		140
	340,993		Aetna Inc		43,494
	1,321	*	Alere, Inc		53
	82,082	*	Align Technology, Inc		9,416
	229,790		AmerisourceBergen Corp		20,336
	204,876		Anthem, Inc		33,882
	7,293	*,e	athenahealth, Inc		822
	75,547		Bard (C.R.), Inc		18,776
	537,906		Baxter International, Inc		27,896
	57,146		Becton Dickinson & Co		10,483
	267,206	*	Boston Scientific Corp		6,645
	83,511		Cardinal Health, Inc		6,810
	526,827	*	Centene Corp		37,542
	1,357,936	*	Cerner Corp		79,915
	382,244		Cigna Corp		55,995
	7,006		Cooper Cos, Inc		1,400
	31,267	*	Danaher Corp		2,674

238

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	12,286	*	DaVita, Inc	$	835
	15,758	*	DexCom, Inc		1,335
	328,139	*	Edwards Lifesciences Corp		30,868
	220,697	*	Envision Healthcare Corp		13,533
	1,062,329	*	Express Scripts Holding Co		70,018
	406,507	*	HCA Holdings, Inc		36,175
	362,800		Healthsouth Corp		15,531
	15,988	*	Henry Schein, Inc		2,718
	11,915		Hill-Rom Holdings, Inc		841
	734,396	*	Hologic, Inc		31,249
	110,419		Humana, Inc		22,762
	93,562	*	Idexx Laboratories, Inc		14,466
	7,396	*,e	Inovalon Holdings, Inc		93
	196,308	*	Intuitive Surgical, Inc		150,464
	160,196	*	Laboratory Corp of America Holdings		22,983
	177,373		McKesson Corp		26,297
	11,998	*	MEDNAX, Inc		832
	16,108	e	Patterson Cos, Inc		729
	770,069	*	Premier, Inc		24,511
	90,811		Resmed, Inc		6,536
	66,592		Stryker Corp		8,767
	1,647		Teleflex, Inc		319
	13,199	*,e	Tenet Healthcare Corp		234
	1,752,082		UnitedHealth Group, Inc		287,359
	223,343		Universal Health Services, Inc (Class B)		27,795
	6,441	*	Varex Imaging Corp		216
	18,786	*	Varian Medical Systems, Inc		1,712
	15,258	*	VCA Antech, Inc		1,396
	197,381	*	Veeva Systems, Inc		10,122
	144,192	*	WellCare Health Plans, Inc		20,217
	13,657		West Pharmaceutical Services, Inc		1,115
	19,886		Zimmer Holdings, Inc		2,428
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		1,210,357
HOUSEHOLD & PERSONAL PRODUCTS - 1.1%
	50,907		Church & Dwight Co, Inc		2,539
	21,592		Clorox Co		2,911
	30,122		Colgate-Palmolive Co		2,205
	6,674		Coty, Inc		121
	233,456		Energizer Holdings, Inc		13,015
	2,014,254		Estee Lauder Cos (Class A)		170,788
	14,626	*,e	Herbalife Ltd		850
	212,432		Kimberly-Clark Corp		27,962
	2,334		Nu Skin Enterprises, Inc (Class A)		130
	203,522		Spectrum Brands, Inc		28,292
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		248,813
INSURANCE - 0.4%
	1,768	e	Amtrust Financial Services, Inc		33
	80,709		Aon plc		9,579
	23,627		Arthur J. Gallagher & Co		1,336
	697		Brown & Brown, Inc		29

239

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	215,919		Chubb Ltd	$	29,419
	3,264		Erie Indemnity Co (Class A)		400
	10,767		Lincoln National Corp		705
	355,610		Marsh & McLennan Cos, Inc		26,276
	300,541		Progressive Corp		11,775
	17,232		XL Group Ltd		687
			TOTAL INSURANCE		80,239
MATERIALS - 3.1%
	3,471	*	AdvanSix, Inc		95
	151,729		Air Products & Chemicals, Inc		20,527
	2,881,900	*	AK Steel Holding Corp		20,721
	289,700		Albemarle Corp		30,604
	2,835		Aptargroup, Inc		218
	166,701		Avery Dennison Corp		13,436
	33,912	*	Axalta Coating Systems Ltd		1,092
	34,566		Ball Corp		2,567
	2,269		Bemis Co, Inc		111
	1,736,956	*	Berry Plastics Group, Inc		84,364
	129,618		Celanese Corp (Series A)		11,646
	409,960	*	Crown Holdings, Inc		21,707
	318,800		Dow Chemical Co		20,257
	63,780		Eagle Materials, Inc		6,196
	51,314		Ecolab, Inc		6,432
	341,294		EI du Pont de Nemours & Co		27,416
	21,098		FMC Corp		1,468
	517,631	*	Freeport-McMoRan Copper & Gold, Inc (Class B)		6,916
	1,715,463		Graphic Packaging Holding Co		22,078
	16,135		International Flavors & Fragrances, Inc		2,138
	325,400		International Paper Co		16,524
	439,601		LyondellBasell Industries AF S.C.A		40,087
	12,064		Martin Marietta Materials, Inc		2,633
	1,039,431		Monsanto Co		117,663
	7,431		NewMarket Corp		3,368
	997,800		Olin Corp		32,798
	312,564	*	Owens-Illinois, Inc		6,370
	49,466		Packaging Corp of America		4,532
	492,496		PPG Industries, Inc		51,752
	49,649		Praxair, Inc		5,888
	427		Royal Gold, Inc		30
	26,783		RPM International, Inc		1,474
	8,153		Scotts Miracle-Gro Co (Class A)		761
	40,358		Sealed Air Corp		1,759
	265,790		Sherwin-Williams Co		82,445
	7,111		Silgan Holdings, Inc		422
	6,908		Southern Copper Corp (NY)		248
	6,194		Steel Dynamics, Inc		215
	15,076		Valspar Corp		1,673
	1,059	e	Valvoline, Inc		26
	125,446		Vulcan Materials Co		15,114
	69,578		WR Grace & Co		4,850
			TOTAL MATERIALS		690,621

240

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
MEDIA - 5.5%
	417,585	*	AMC Networks, Inc	$	24,504
	848		Cable One, Inc		530
	2,007,383		CBS Corp (Class B)		139,232
	59,135	*	Charter Communications, Inc		19,356
	21,323		Cinemark Holdings, Inc		945
	5,821		Clear Channel Outdoor Holdings, Inc (Class A)		35
	10,958,668		Comcast Corp (Class A)		411,936
	548,378	*	Discovery Communications, Inc (Class A)		15,952
	40,708	*	Discovery Communications, Inc (Class C)		1,152
	602,080	*	DISH Network Corp (Class A)		38,226
	1,411,351		Interpublic Group of Cos, Inc		34,677
	5,892	*,e	Lions Gate Entertainment Corp (Class A)		157
	111,660	*	Lions Gate Entertainment Corp (Class B)		2,722
	224,170	*	Live Nation, Inc		6,808
	534	*	Madison Square Garden Co		107
	82,772		Omnicom Group, Inc		7,136
	63,476	e	Regal Entertainment Group (Class A)		1,433
	325,247		Scripps Networks Interactive (Class A)		25,490
	346,510	e	Sirius XM Holdings, Inc		1,785
	1,456,540		Time Warner, Inc		142,319
	93		Tribune Co		3
	228,008		Twenty-First Century Fox, Inc		7,385
	76,348		Twenty-First Century Fox, Inc (Class B)		2,426
	2,009		Viacom, Inc		98
	974,102		Viacom, Inc (Class B)		45,413
	2,662,784		Walt Disney Co		301,933
			TOTAL MEDIA		1,231,760
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.1%
	1,070,755		AbbVie, Inc		69,770
	18,931	*,e	Acadia Pharmaceuticals, Inc		651
	251,831		Agilent Technologies, Inc		13,314
	6,072	*,e	Agios Pharmaceuticals, Inc		355
	16,072	*	Akorn, Inc		387
	611,588	*	Alexion Pharmaceuticals, Inc		74,149
	30,191	*	Alkermes plc		1,766
	999,310		Allergan plc		238,755
	11,673	*	Alnylam Pharmaceuticals, Inc		598
	777,385		Amgen, Inc		127,545
	222	*,e	AquaBounty Technologies, Inc		2
	100,000		Bayer AG.		11,521
	514,824	*	Biogen Idec, Inc		140,763
	452,325	*	BioMarin Pharmaceutical, Inc		39,705
	7,136		Bio-Techne Corp		725
	123,392	*	Bioverativ, Inc		6,720
	1,828,295		Bristol-Myers Squibb Co		99,423
	20,460		Bruker BioSciences Corp		477
	1,851,351	*	Celgene Corp		230,364
	109,247	*	Charles River Laboratories International, Inc		9,827

241

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	1,574,634		Eli Lilly & Co	$	132,442
	986,159		Gilead Sciences, Inc		66,980
	78,722	*	H Lundbeck AS		3,654
	408,637	*	Illumina, Inc		69,730
	47,936	*	Incyte Corp		6,408
	2,851	*,e	Intercept Pharmaceuticals, Inc		322
	10,108	*,e	Intrexon Corp		200
	29,375	*,e	Ionis Pharmaceuticals, Inc		1,181
	231,723		Ipsen		23,168
	229,736	*	Jazz Pharmaceuticals plc		33,342
	522,070		Johnson & Johnson		65,024
	9,196	*,e	Juno Therapeutics, Inc		204
	73,079		Lonza Group AG.		13,813
	5,180	*	Mettler-Toledo International, Inc		2,481
	522,198	*	Mylan NV		20,361
	16,586	*	Neurocrine Biosciences, Inc		718
	57,850	*,e	Opko Health, Inc		463
	23,914	*	Patheon NV		630
	4,119	*	PerkinElmer, Inc		239
	453,848		Pfizer, Inc		15,526
	267,030	*	Quintiles Transnational Holdings, Inc		21,504
	15,416	*	Regeneron Pharmaceuticals, Inc		5,974
	18,688	*	Seattle Genetics, Inc		1,175
	41,940		Thermo Fisher Scientific, Inc		6,442
	6,331	*	United Therapeutics Corp		857
	285,119	*	Vertex Pharmaceuticals, Inc		31,178
	1,232	*	VWR Corp		35
	100,562	*	Waters Corp		15,719
	3,537,246		Zoetis, Inc		188,783
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1,795,370
REAL ESTATE - 0.8%
	1,836		Alexandria Real Estate Equities, Inc		203
	265,028		American Tower Corp		32,211
	78,691		Boston Properties, Inc		10,419
	2,670		Care Capital Properties, Inc		72
	852,752	*	CBRE Group, Inc		29,667
	36,587		Colony NorthStar, Inc		472
	78,929		Crown Castle International Corp		7,455
	25,006		CubeSmart		649
	12,467		CyrusOne, Inc		642
	22,677		Digital Realty Trust, Inc		2,413
	14,176		Empire State Realty Trust, Inc		293
	14,889		Equinix, Inc		5,961
	123,813		Equity Lifestyle Properties, Inc		9,541
	5,382		Essex Property Trust, Inc		1,246
	24,759		Extra Space Storage, Inc		1,842
	14,289		Federal Realty Investment Trust		1,908
	37,487		Gaming and Leisure Properties, Inc		1,253
	18,117		Healthcare Trust of America, Inc		570
	2,368	*	Invitation Homes, Inc		52
	52,426		Iron Mountain, Inc		1,870
	15,533		Lamar Advertising Co		1,161

242

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	5,956		Life Storage, Inc	$	489
	870,000		MGM Growth Properties LLC		23,533
	13,328		Omega Healthcare Investors, Inc		440
	15,268		Outfront Media, Inc		405
	17,473		Park Hotels & Resorts, Inc		448
	52,067		Public Storage, Inc		11,398
	4,916		Regency Centers Corp		326
	15,701	*	SBA Communications Corp		1,890
	1,570		Senior Housing Properties Trust		32
	112,034		Simon Property Group, Inc		19,273
	139,100		Spirit Realty Capital, Inc		1,409
	72,573		Tanger Factory Outlet Centers, Inc		2,378
	5,389		Taubman Centers, Inc		356
	21,044		Ventas, Inc		1,369
			TOTAL REAL ESTATE		173,646
RETAILING - 9.9%
	164,531		Advance Auto Parts, Inc		24,393
	916,720	*	Amazon.com, Inc		812,709
	585,000	*	ASOS plc		44,240
	4,377	*	Autonation, Inc		185
	49,814	*	AutoZone, Inc		36,018
	1,957		Bed Bath & Beyond, Inc		77
	406,100		Best Buy Co, Inc		19,960
	82,307	*	Burlington Stores, Inc		8,008
	324	*	Cabela’s, Inc		17
	1,167,415	*	Carmax, Inc		69,134
	765,152	*	Ctrip.com International Ltd (ADR)		37,607
	13,411		Dick’s Sporting Goods, Inc		653
	375,829		Dollar General Corp		26,207
	45,028	*	Dollar Tree, Inc		3,533
	931,672		Expedia, Inc		117,549
	76,932		Fast Retailing Co Ltd		24,209
	431,263		Foot Locker, Inc		32,263
	494,300		GameStop Corp (Class A)		11,146
	53,578		Gap, Inc		1,301
	27,502		Genuine Parts Co		2,541
	4,067,133	*,e	Groupon, Inc		15,984
	2,401,884		Home Depot, Inc		352,669
	7,344		L Brands, Inc		346
	2,639	*	Liberty Expedia Holdings, Inc		120
	1,746,599	*	Liberty Interactive Corp		34,967
	3,950	*	Liberty Ventures		176
	396,076	*	LKQ Corp		11,593
	1,041,990		Lowe’s Companies, Inc		85,662
	11,807	*	Michaels Cos, Inc		264
	254,150	*	Murphy USA, Inc		18,660
	839,605	*	NetFlix, Inc		124,102
	23,397	e	Nordstrom, Inc		1,090
	115,229	*	O’Reilly Automotive, Inc		31,093
	66,470	*	Priceline.com, Inc		118,314
	311,165		Ross Stores, Inc		20,496

243

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	26,890	*	Sally Beauty Holdings, Inc	$	550
	12,052		Signet Jewelers Ltd		835
	14,091		Target Corp		778
	315,000		Tiffany & Co		30,020
	620,247		TJX Companies, Inc		49,049
	27,379		Tractor Supply Co		1,888
	24,260	*	TripAdvisor, Inc		1,047
	11,642	*	Ulta Salon Cosmetics & Fragrance, Inc		3,321
	831,370	*	Urban Outfitters, Inc		19,753
	17,727	e	Williams-Sonoma, Inc		951
			TOTAL RETAILING		2,195,478
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.6%
	1,846,360	*	Advanced Micro Devices, Inc		26,865
	5,132		Analog Devices, Inc		421
	2,749,271		Applied Materials, Inc		106,947
	1,388,752		Broadcom Ltd		304,081
	5,687	*	Cree, Inc		152
	484,565		Intel Corp		17,478
	352,375		Kla-Tencor Corp		33,500
	765,227		Lam Research Corp		98,225
	312,184		Maxim Integrated Products, Inc		14,036
	225,509		Microchip Technology, Inc		16,638
	1,065,822	*	Micron Technology, Inc		30,802
	785,885		NVIDIA Corp		85,606
	6,274	*	ON Semiconductor Corp		97
	2,180	*	Qorvo, Inc		149
	303,190		Qualcomm, Inc		17,385
	132,683		Skyworks Solutions, Inc		13,000
	400,937		Texas Instruments, Inc		32,299
	16,395	*	Versum Materials, Inc		502
	15,524		Xilinx, Inc		899
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		799,082
SOFTWARE & SERVICES - 27.5%
	692,700		Accenture plc		83,041
	1,637,705		Activision Blizzard, Inc		81,656
	2,545,770	*	Adobe Systems, Inc		331,281
	58,809	*	Akamai Technologies, Inc		3,511
	15,441		Alliance Data Systems Corp		3,845
	445,312	*	Alphabet, Inc (Class A)		377,536
	899,278	*	Alphabet, Inc (Class C)		746,005
	356,691		Amdocs Ltd		21,754
	4,279	*	Ansys, Inc		457
	4,769	*	Atlassian Corp plc		143
	519,171	*	Autodesk, Inc		44,893
	991,780		Automatic Data Processing, Inc		101,548
	155,000	*	Baidu, Inc (ADR)		26,741
	6,185	*,e	Black Knight Financial Services, Inc		237
	323,955		Booz Allen Hamilton Holding Co		11,465
	23,021		Broadridge Financial Solutions, Inc		1,564
	57,552	*	Cadence Design Systems, Inc		1,807

244

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	189,048		CDK Global, Inc	$	12,290
	239,800	*	Check Point Software Technologies		24,618
	500,000	*	Cimpress NV		43,095
	386,817	*	Citrix Systems, Inc		32,257
	412,338	*	Cognizant Technology Solutions Corp (Class A)		24,542
	1,608	*	CommerceHub, Inc		25
	804	*	CommerceHub, Inc (Series A)		12
	6,443	*	CoStar Group, Inc		1,335
	450,311		CSRA, Inc		13,190
	181,324	*	Dell Technologies, Inc-VMware Inc		11,619
	6,503		DST Systems, Inc		797
	2,066,036	*	eBay, Inc		69,357
	335,685	*	Electronic Arts, Inc		30,050
	9,913	*	Euronet Worldwide, Inc		848
	5,299,986	*	Facebook, Inc		752,863
	220,041		Fidelity National Information Services, Inc		17,520
	2,432	*,e	FireEye, Inc		31
	501,371	*	First American Corp		20,416
	622,049	*	First Data Corp		9,642
	172,845	*	Fiserv, Inc		19,931
	298,504	*	FleetCor Technologies, Inc		45,202
	177,012	*	Fortinet, Inc		6,788
	102,639	*	Gartner, Inc		11,084
	451,839		Genpact Ltd		11,187
	264,600		Global Payments, Inc		21,348
	9,308	*	GoDaddy, Inc		353
	1,000,000	*	GrubHub, Inc		32,890
	15,138	*	Guidewire Software, Inc		853
	1,401,917	*	IAC/InterActiveCorp		103,349
	557,865		International Business Machines Corp		97,147
	2,981,792		Intuit, Inc		345,858
	15,040		Jack Henry & Associates, Inc		1,400
	383,143		Leidos Holdings, Inc		19,594
	61,202		LogMeIn, Inc		5,967
	13,563	*	Manhattan Associates, Inc		706
	2,086,455		MasterCard, Inc (Class A)		234,664
	3,373	*,e	Match Group, Inc		55
	14,759,442		Microsoft Corp		972,057
	94,500		Netease.com (ADR)		26,838
	34,115	*	Nuance Communications, Inc		590
	2,855	*	Nutanix, Inc		54
	2,244,025		Oracle Corp		100,106
	37,589	*,e	Pandora Media, Inc		444
	63,361		Paychex, Inc		3,732
	4,442,103	*	PayPal Holdings, Inc		191,099
	11,392	*	PTC, Inc		599
	530,765	*	Red Hat, Inc		45,911
	45,538		Sabre Corp		965
	2,972,899	*	salesforce.com, Inc		245,235
	776,346	*,g	Scout24 AG.		25,920
	451,352	*	ServiceNow, Inc		39,480
	26,943	*	Splunk, Inc		1,678

245

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	113,233	*	Square, Inc	$	1,957
	115,950		SS&C Technologies Holdings, Inc		4,105
	16,689		Symantec Corp		512
	72,377	*	Synopsys, Inc		5,220
	10,848	*	Tableau Software, Inc		537
	2,898,201		Tencent Holdings Ltd		83,496
	447,827	*	Teradata Corp		13,936
	33,396		Total System Services, Inc		1,785
	2,705	*,e	Twilio, Inc		78
	112,200	*	Twitter, Inc		1,677
	6,771	*	Tyler Technologies, Inc		1,046
	5,849	*,e	Ultimate Software Group, Inc		1,142
	30,640	*	Vantiv, Inc		1,965
	18,517	*,e	VeriSign, Inc		1,613
	5,183,981		Visa, Inc (Class A)		460,700
	288,557	*,e	VMware, Inc (Class A)		26,588
	97,369		Western Union Co		1,981
	7,787	*	WEX, Inc		806
	23,887	*	Workday, Inc		1,989
	81,911	*	Yelp, Inc		2,683
	6,710	*	Zillow Group, Inc		227
	14,079	*,e	Zillow Group, Inc (Class C)		474
			TOTAL SOFTWARE & SERVICES		6,129,592
TECHNOLOGY HARDWARE & EQUIPMENT - 5.9%
	59,229		Amphenol Corp (Class A)		4,215
	7,666,508	d	Apple, Inc		1,101,370
	7,554	*	Arista Networks, Inc		999
	380,976	*	ARRIS International plc		10,077
	157,224		CDW Corp		9,073
	1,698,895	*	Ciena Corp		40,111
	16,357		Cognex Corp		1,373
	637,636	*	CommScope Holding Co, Inc		26,596
	102,906	*	F5 Networks, Inc		14,671
	292,300	*	Finisar Corp		7,992
	9,815	*,e	Fitbit, Inc		58
	6,284	*	IPG Photonics Corp		759
	349,535	*	Lumentum Holdings, Inc		18,648
	105,229		Motorola, Inc		9,073
	17,313		National Instruments Corp		564
	459,073	*	NCR Corp		20,970
	262,295	*	Palo Alto Networks, Inc		29,555
	40,236	*	Trimble Navigation Ltd		1,288
	23,638	*	VeriFone Systems, Inc		443
	285,000		Western Digital Corp		23,521
	8,032	*	Zebra Technologies Corp (Class A)		733
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,322,089
TELECOMMUNICATION SERVICES - 0.8%
	680,100		AT&T, Inc		28,258
	326,900	e	CenturyTel, Inc		7,705
	1,517,474	*	T-Mobile US, Inc		98,014

246

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	992,866		Verizon Communications, Inc	$	48,402
	32,457	*	Zayo Group Holdings, Inc		1,068
			TOTAL TELECOMMUNICATION SERVICES		183,447
TRANSPORTATION - 1.8%
	172,857		Alaska Air Group, Inc		15,941
	32,792		Amerco, Inc		12,500
	15,071	*	Avis Budget Group, Inc		446
	27,791		CH Robinson Worldwide, Inc		2,148
	498,420		Delta Air Lines, Inc		22,907
	24,186		Expeditors International of Washington, Inc		1,366
	340,449		FedEx Corp		66,439
	4	*,e	Hertz Global Holdings, Inc		0	^
	17,967		J.B. Hunt Transport Services, Inc		1,648
	883	*	JetBlue Airways Corp		18
	7,733		Landstar System, Inc		662
	8,092		Old Dominion Freight Line		693
	603,794		Southwest Airlines Co		32,460
	600,000	*	Spirit Airlines, Inc		31,842
	1,593,984		Union Pacific Corp		168,835
	115,200	*	United Continental Holdings, Inc		8,138
	239,850		United Parcel Service, Inc (Class B)		25,736
			TOTAL TRANSPORTATION		391,779
UTILITIES - 0.0%
	7,453		Dominion Resources, Inc		578
			TOTAL UTILITIES		578
			TOTAL COMMON STOCKS		22,056,095
			(Cost $17,776,307)

PRINCIPAL			ISSUER	RATE			MATURITY DATE
SHORT-TERM INVESTMENTS - 1.4%
TREASURY DEBT - 0.8%
$	12,400,000	d	United States Treasury Bill		0.445%-0.729	%	04/13/17	12,398
	53,600,000	d	United States Treasury Bill		0.715		04/20/17	53,582
	95,000,000	d	United States Treasury Bill		0.501-0.741		04/27/17	94,954
	22,000,000	d	United States Treasury Bill		0.701		05/18/17	21,980
			TOTAL TREASURY DEBT					182,914

SHARES			COMPANY
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.6%
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.6%
	134,835,401	c	State Street Navigator Securities Lending Government Money Market Portfolio	134,835
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES	134,835
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED	134,835

247

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

	VALUE (000)
TOTAL SHORT-TERM INVESTMENTS	$	317,749
(Cost $317,746)
TOTAL INVESTMENTS - 100.5%		22,373,844
(Cost $18,094,053)
OTHER ASSETS & LIABILITIES, NET - (0.5)%		(117,107	)
NET ASSETS - 100.0%	$	22,256,737

Abbreviation(s):

ADR   American Depositary Receipt

*	Non-income producing
^	Amount represents less than $1,000.
c	Investments made with cash collateral received from securities on loan.
d	All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $132,308,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/17, the aggregate value of these securities was $53,957,000 or 0.2% of net assets.
	Cost amounts are in thousands.

248

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

COLLEGE RETIREMENT EQUITIES FUND

EQUITY INDEX ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2017

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.9%
AUTOMOBILES & COMPONENTS - 1.0%
	69,021	*	Adient plc	$	5,016
	56,324	*	American Axle & Manufacturing Holdings, Inc		1,058
	161,099		BorgWarner, Inc		6,732
	37,696		Cooper Tire & Rubber Co		1,672
	10,380	*	Cooper-Standard Holding, Inc		1,151
	111,547		Dana Holding Corp		2,154
	200,921		Delphi Automotive plc		16,172
	20,030	*	Dorman Products, Inc		1,645
	2,865,096		Ford Motor Co		33,350
	16,848	*	Fox Factory Holding Corp		483
	1,038,109		General Motors Co		36,707
	210,501		Gentex Corp		4,490
	26,543	*	Gentherm, Inc		1,042
	197,979		Goodyear Tire & Rubber Co		7,127
	134,380		Harley-Davidson, Inc		8,130
	13,693	*	Horizon Global Corp		190
	17,506		LCI Industries, Inc		1,747
	53,985		Lear Corp		7,643
	15,558		Metaldyne Performance Group, Inc		355
	36,302	*	Modine Manufacturing Co		443
	13,147	*	Motorcar Parts of America, Inc		404
	24,709		Spartan Motors, Inc		198
	15,087		Standard Motor Products, Inc		741
	20,247	*	Stoneridge, Inc		367
	2,693		Strattec Security Corp		75
	17,815		Superior Industries International, Inc		452
	40,207		Tenneco, Inc		2,510
	92,169	*,e	Tesla Motors, Inc		25,651
	33,978		Thor Industries, Inc		3,266
	15,398		Tower International, Inc		417
	3,298		Unique Fabricating, Inc		40
	25,274	*	Visteon Corp		2,476
	21,322		Winnebago Industries, Inc		624
	9,424	*,e	Workhorse Group, Inc		25
			TOTAL AUTOMOBILES & COMPONENTS		174,553
BANKS - 6.9%
	12,604		1st Source Corp		592
	5,171	e	Access National Corp		155
	4,570		ACNB Corp		132
	7,958	*	Allegiance Bancshares, Inc		296
	5,882		American National Bankshares, Inc		219
	24,903		Ameris Bancorp		1,148
	7,069	e	Ames National Corp		216
	7,714		Arrow Financial Corp		262

249

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	110,942		Associated Banc-Corp	$	2,707
	66,701		Astoria Financial Corp		1,368
	12,656	*	Atlantic Capital Bancshares, Inc		240
	35,106	e	Banc of California, Inc		727
	5,787		Bancfirst Corp		520
	21,466		Banco Latinoamericano de Exportaciones S.A. (Class E)		596
	63,774		Bancorpsouth, Inc		1,929
	41,404		Bank Mutual Corp		389
	7,584,075		Bank of America Corp		178,908
	31,772		Bank of Hawaii Corp		2,617
	3,864		Bank of Marin Bancorp		249
	9,084		Bank of NT Butterfield & Son Ltd		290
	64,145		Bank of the Ozarks, Inc		3,336
	15,980		BankFinancial Corp		232
	73,818		BankUnited		2,754
	3,897		Bankwell Financial Group, Inc		134
	22,254		Banner Corp		1,238
	11,016		Bar Harbor Bankshares		364
	604,817		BB&T Corp		27,035
	9,956		Bear State Financial, Inc		94
	54,253		Beneficial Bancorp, Inc		868
	21,508		Berkshire Hills Bancorp, Inc		775
	20,549		Blue Hills Bancorp, Inc		367
	27,830		BNC Bancorp		975
	45,284	*,e	BofI Holding, Inc		1,183
	19,135		BOK Financial Corp		1,498
	59,217		Boston Private Financial Holdings, Inc		971
	12,233		Bridge Bancorp, Inc		428
	54,590		Brookline Bancorp, Inc		854
	12,987		Bryn Mawr Bank Corp		513
	6,346	*	BSB Bancorp, Inc		179
	2,353		C&F Financial Corp		109
	11,436		Camden National Corp		504
	15,934		Capital Bank Financial Corp		692
	9,158		Capital City Bank Group, Inc		196
	105,428		Capitol Federal Financial		1,542
	22,480		Cardinal Financial Corp		673
	7,542		Carolina Financial Corp		226
	21,201	*	Cascade Bancorp		164
	54,668		Cathay General Bancorp		2,060
	33,881		Centerstate Banks of Florida, Inc		878
	17,227		Central Pacific Financial Corp		526
	6,214		Central Valley Community Bancorp		127
	2,883		Century Bancorp, Inc		175
	13,560		Charter Financial Corp		267
	48,539		Chemical Financial Corp		2,483
	2,189		Chemung Financial Corp		87
	148,171		CIT Group, Inc		6,361
	2,049,733		Citigroup, Inc		122,615
	9,568		Citizens & Northern Corp		223
	392,839		Citizens Financial Group, Inc		13,573
	7,739		City Holding Co		499
	19,650		Clifton Bancorp, Inc		318

250

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	9,772		CNB Financial Corp	$	234
	26,184		CoBiz, Inc		440
	5,854		Codorus Valley Bancorp, Inc		152
	42,696		Columbia Banking System, Inc		1,665
	129,571		Comerica, Inc		8,886
	62,219		Commerce Bancshares, Inc		3,494
	30,550	e	Community Bank System, Inc		1,680
	12,718		Community Trust Bancorp, Inc		582
	21,722		ConnectOne Bancorp, Inc		527
	3,700		County Bancorp, Inc		108
	12,656	*	CU Bancorp		502
	39,504		Cullen/Frost Bankers, Inc		3,515
	19,196	*	Customers Bancorp, Inc		605
	80,226		CVB Financial Corp		1,772
	23,810		Dime Community Bancshares		483
	22,108	*	Eagle Bancorp, Inc		1,320
	106,767		East West Bancorp, Inc		5,510
	6,481		Enterprise Bancorp, Inc		225
	14,785		Enterprise Financial Services Corp		627
	3,620	*	Equity Bancshares, Inc		115
	6,121		ESSA Bancorp, Inc		89
	55,323	*	Essent Group Ltd		2,001
	57,923		EverBank Financial Corp		1,128
	5,336		Farmers Capital Bank Corp		216
	18,150		Farmers National Banc Corp		261
	20,788	*	FCB Financial Holdings, Inc		1,030
	6,481		Federal Agricultural Mortgage Corp (Class C)		373
	15,456		Fidelity Southern Corp		346
	567,748		Fifth Third Bancorp		14,421
	10,211		Financial Institutions, Inc		336
	15,337		First Bancorp (NC)		449
	85,475	*	First Bancorp (Puerto Rico)		483
	6,485		First Bancorp, Inc		177
	23,093		First Busey Corp		679
	6,176		First Business Financial Services, Inc		160
	5,634		First Citizens Bancshares, Inc (Class A)		1,890
	66,434		First Commonwealth Financial Corp		881
	12,139		First Community Bancshares, Inc		303
	9,229	*	First Community Financial Partners, Inc		118
	13,926		First Connecticut Bancorp		345
	7,726		First Defiance Financial Corp		383
	44,691		First Financial Bancorp		1,227
	47,037	e	First Financial Bankshares, Inc		1,886
	8,954		First Financial Corp		425
	6,257		First Financial Northwest, Inc		111
	19,660	*	First Foundation, Inc		305
	20,000		First Hawaiian, Inc		598
	172,999		First Horizon National Corp		3,201
	4,089		First Internet Bancorp		121
	13,482		First Interstate Bancsystem, Inc		535
	29,933		First Merchants Corp		1,177
	4,469		First Mid-Illinois Bancshares, Inc		151

251

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	57,533		First Midwest Bancorp, Inc	$	1,362
	11,498	*,e	First NBC Bank Holding Co		46
	7,602	*	First Northwest Bancorp		118
	15,462		First of Long Island Corp		418
	108,227		First Republic Bank		10,153
	15,789	*	Flagstar Bancorp, Inc		445
	23,200		Flushing Financial Corp		623
	220,255		FNB Corp		3,275
	10,697	*	Franklin Financial Network, Inc		415
	126,801		Fulton Financial Corp		2,263
	9,802		German American Bancorp, Inc		464
	56,600		Glacier Bancorp, Inc		1,920
	7,809		Great Southern Bancorp, Inc		394
	43,982		Great Western Bancorp, Inc		1,865
	14,667	*	Green Bancorp, Inc		261
	2,003	e	Greene County Bancorp, Inc		47
	11,166		Guaranty Bancorp		272
	57,555		Hancock Holding Co		2,622
	23,963		Hanmi Financial Corp		737
	16,045		Heartland Financial USA, Inc		801
	16,751		Heritage Commerce Corp		236
	22,833		Heritage Financial Corp		565
	14,409		Heritage Oaks Bancorp		192
	55,915		Hilltop Holdings, Inc		1,536
	997		Hingham Institution for Savings		176
	4,264		Home Bancorp, Inc		144
	84,058		Home Bancshares, Inc		2,275
	15,022	*	HomeStreet, Inc		420
	16,046	*	HomeTrust Bancshares, Inc		377
	96,239		Hope Bancorp, Inc		1,845
	12,010		Horizon Bancorp		315
	801,542		Huntington Bancshares, Inc		10,733
	33,050		IBERIABANK Corp		2,614
	6,123	*,e	Impac Mortgage Holdings, Inc		76
	19,246		Independent Bank Corp (MA)		1,251
	17,558		Independent Bank Corp (MI)		363
	7,858		Independent Bank Group, Inc		505
	40,567		International Bancshares Corp		1,436
	219,896		Investors Bancorp, Inc		3,162
	2,686,390		JPMorgan Chase & Co		235,973
	69,276		Kearny Financial Corp		1,043
	802,266		Keycorp		14,264
	28,418		Lakeland Bancorp, Inc		557
	18,630		Lakeland Financial Corp		803
	6,780		LCNB Corp		162
	32,716		LegacyTexas Financial Group, Inc		1,305
	5,204	*	LendingTree, Inc		652
	14,926	e	Live Oak Bancshares, Inc		323
	111,052		M&T Bank Corp		17,183
	19,210		Macatawa Bank Corp		190
	16,944		MainSource Financial Group, Inc		558
	51,779		MB Financial, Inc		2,217
	13,586		MBT Financial Corp		154

252

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	12,428		Mercantile Bank Corp	$	428
	3,784		Merchants Bancshares, Inc		184
	41,025		Meridian Bancorp, Inc		751
	6,858		Meta Financial Group, Inc		607
	252,589	*	MGIC Investment Corp		2,559
	3,714		Middleburg Financial Corp		149
	2,960		Midland States Bancorp, Inc		102
	5,257		MidWestOne Financial Group, Inc		180
	3,816		MutualFirst Financial, Inc		120
	19,324		National Bank Holdings Corp		628
	5,351	e	National Bankshares, Inc		201
	6,167	*	National Commerce Corp		226
	25,594	*,e	Nationstar Mortgage Holdings, Inc		403
	32,725		NBT Bancorp, Inc		1,213
	350,170		New York Community Bancorp, Inc		4,892
	5,394	*	Nicolet Bankshares, Inc		255
	38,864	*	NMI Holdings, Inc		443
	36,323		Northfield Bancorp, Inc		655
	5,019		Northrim BanCorp, Inc		151
	69,442		Northwest Bancshares, Inc		1,169
	14,953		OceanFirst Financial Corp		421
	73,796	*	Ocwen Financial Corp		404
	33,903	e	OFG Bancorp		400
	6,461		Old Line Bancshares, Inc		184
	90,192		Old National Bancorp		1,565
	21,667		Old Second Bancorp, Inc		244
	10,957		Opus Bank		221
	26,521		Oritani Financial Corp		451
	5,318		Orrstown Financial Services, Inc		119
	14,467		Pacific Continental Corp		354
	11,579	*	Pacific Mercantile Bancorp		87
	19,968	*	Pacific Premier Bancorp, Inc		770
	85,767		PacWest Bancorp		4,568
	9,690		Park National Corp		1,019
	38,548		Park Sterling Bank		475
	11,582		Peapack Gladstone Financial Corp		343
	2,964		Penns Woods Bancorp, Inc		129
	9,540	*	PennyMac Financial Services, Inc		163
	13,423		Peoples Bancorp, Inc		425
	5,712		Peoples Financial Services Corp		239
	229,288		People’s United Financial, Inc		4,173
	9,341		People’s Utah Bancorp		247
	36,552	*	PHH Corp		465
	31,513		Pinnacle Financial Partners, Inc		2,094
	370,257		PNC Financial Services Group, Inc		44,520
	75,864		Popular, Inc		3,090
	8,859		Preferred Bank		475
	6,765		Premier Financial Bancorp, Inc		142
	58,098		PrivateBancorp, Inc		3,449
	49,181		Prosperity Bancshares, Inc		3,428
	3,260	*	Provident Bancorp, Inc		68
	4,497		Provident Financial Holdings, Inc		84

253

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	45,191		Provident Financial Services, Inc	$	1,168
	8,729		QCR Holdings, Inc		370
	158,112		Radian Group, Inc		2,840
	942,757		Regions Financial Corp		13,698
	29,870		Renasant Corp		1,186
	6,104		Republic Bancorp, Inc (Class A)		210
	23,825	*	Republic First Bancorp, Inc		198
	25,676		S&T Bancorp, Inc		888
	18,232		Sandy Spring Bancorp, Inc		747
	21,395	*	Seacoast Banking Corp of Florida		513
	32,848	e	ServisFirst Bancshares, Inc		1,195
	8,913		Shore Bancshares, Inc		149
	8,511		SI Financial Group, Inc		120
	8,919		Sierra Bancorp		245
	39,194	*	Signature Bank		5,816
	22,158		Simmons First National Corp (Class A)		1,222
	18,098		South State Corp		1,617
	4,079	*	Southern First Bancshares, Inc		133
	4,139		Southern Missouri Bancorp, Inc		147
	8,140		Southern National Bancorp of Virginia, Inc		138
	17,347		Southside Bancshares, Inc		582
	14,769		Southwest Bancorp, Inc		386
	26,403		State Bank & Trust Co		690
	88,560		Sterling Bancorp/DE		2,099
	16,305		Stock Yards Bancorp, Inc		663
	7,609		Stonegate Bank		358
	8,903		Suffolk Bancorp		360
	6,101	e	Summit Financial Group, Inc		131
	8,249		Sun Bancorp, Inc		201
	371,519		SunTrust Banks, Inc		20,545
	38,070	*	SVB Financial Group		7,084
	92,114		Synovus Financial Corp		3,779
	116,646		TCF Financial Corp		1,985
	8,286		Territorial Bancorp, Inc		258
	36,559	*	Texas Capital Bancshares, Inc		3,051
	52,879		TFS Financial Corp		879
	26,827	*	The Bancorp, Inc		137
	11,138		Tompkins Trustco, Inc		897
	41,087		TowneBank		1,331
	16,948		Trico Bancshares		602
	16,178	*	Tristate Capital Holdings, Inc		378
	10,668	*	Triumph Bancorp, Inc		275
	71,043		Trustco Bank Corp NY		558
	49,168		Trustmark Corp		1,563
	29,867		UMB Financial Corp		2,249
	161,706		Umpqua Holdings Corp		2,869
	31,837		Union Bankshares Corp		1,120
	2,885	e	Union Bankshares, Inc		124
	48,255	e	United Bankshares, Inc		2,039
	52,885		United Community Banks, Inc		1,464
	30,361		United Community Financial Corp		253
	36,948		United Financial Bancorp, Inc (New)		629
	19,117		Univest Corp of Pennsylvania		495

254

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	1,203,865		US Bancorp	$	61,999
	172,796		Valley National Bancorp		2,039
	6,183	*	Veritex Holdings, Inc		174
	19,235	*	Walker & Dunlop, Inc		802
	67,298		Washington Federal, Inc		2,228
	10,818		Washington Trust Bancorp, Inc		533
	5,982		WashingtonFirst Bankshares, Inc		168
	22,962		Waterstone Financial, Inc		419
	67,195		Webster Financial Corp		3,362
	3,372,103		Wells Fargo & Co		187,691
	30,103		WesBanco, Inc		1,147
	11,970		West Bancorporation, Inc		275
	18,981	e	Westamerica Bancorporation		1,060
	64,944	*	Western Alliance Bancorp		3,188
	10,697		Western New England Bancorp, Inc		112
	35,315		Wintrust Financial Corp		2,441
	144,782	*	WMIH Corp		210
	20,553		WSFS Financial Corp		944
	3,104	*,e	Xenith Bankshares, Inc		79
	149,549		Zions Bancorporation		6,281
			TOTAL BANKS		1,249,928
CAPITAL GOODS - 7.7%
	435,139		3M Co		83,255
	108,282		A.O. Smith Corp		5,540
	29,877		Aaon, Inc		1,056
	24,615		AAR Corp		828
	43,959		Actuant Corp (Class A)		1,158
	32,117		Acuity Brands, Inc		6,552
	24,758		Advanced Drainage Systems, Inc		542
	110,795	*	Aecom Technology Corp		3,943
	28,439	*	Aegion Corp		652
	46,010	*	Aerojet Rocketdyne Holdings, Inc		998
	14,335	*	Aerovironment, Inc		402
	50,527		AGCO Corp		3,041
	71,397		Air Lease Corp		2,767
	34,921		Aircastle Ltd		843
	6,904		Alamo Group, Inc		526
	21,082		Albany International Corp (Class A)		971
	71,508		Allegion plc		5,413
	4,493		Allied Motion Technologies, Inc		90
	104,849		Allison Transmission Holdings, Inc		3,781
	18,514		Altra Holdings, Inc		721
	13,776	*	Ameresco, Inc		90
	5,806	e	American Railcar Industries, Inc		239
	9,146	*,e	American Superconductor Corp		63
	10,171	*	American Woodmark Corp		934
	169,092		Ametek, Inc		9,145
	21,529		Apogee Enterprises, Inc		1,283
	26,937		Applied Industrial Technologies, Inc		1,666
	322,544		Arconic, Inc		8,496
	9,512		Argan, Inc		629

255

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	17,658	*	Armstrong Flooring, Inc	$	325
	28,807	*	Armstrong World Industries, Inc		1,327
	14,102		Astec Industries, Inc		867
	14,118	*	Astronics Corp		448
	19,364		AZZ, Inc		1,152
	33,400	*	Babcock & Wilcox Enterprises, Inc		312
	36,980		Barnes Group, Inc		1,899
	68,032		BE Aerospace, Inc		4,362
	43,906	*	Beacon Roofing Supply, Inc		2,158
	3,967	*,e	Blue Bird Corp		68
	40,522	*	BMC Stock Holdings, Inc		916
	439,421		Boeing Co		77,716
	35,415		Briggs & Stratton Corp		795
	51,345	*	Builders FirstSource, Inc		765
	69,405		BWX Technologies, Inc		3,304
	17,437	*	Caesarstone Sdot-Yam Ltd		632
	12,460	*	CAI International, Inc		196
	46,436		Carlisle Cos, Inc		4,941
	407,390		Caterpillar, Inc		37,790
	22,344	*	Chart Industries, Inc		781
	78,484		Chicago Bridge & Iron Co NV		2,413
	12,045		CIRCOR International, Inc		716
	73,519	*	Colfax Corp		2,886
	14,727		Columbus McKinnon Corp		366
	27,143		Comfort Systems USA, Inc		995
	25,603	*	Continental Building Products Inc		627
	35,538		Crane Co		2,659
	7,312	*	CSW Industrials, Inc		268
	18,660		Cubic Corp		985
	117,279		Cummins, Inc		17,733
	32,643		Curtiss-Wright Corp		2,979
	232,354		Deere & Co		25,294
	46,761	*	DigitalGlobe, Inc		1,531
	9,586		DMC Global, Inc		119
	94,050		Donaldson Co, Inc		4,281
	16,771		Douglas Dynamics, Inc		514
	114,025		Dover Corp		9,162
	8,048	*	Ducommun, Inc		232
	9,738	*	DXP Enterprises, Inc		369
	22,543	*,e	Dycom Industries, Inc		2,095
	340,356		Eaton Corp		25,237
	44,692		EMCOR Group, Inc		2,813
	476,629		Emerson Electric Co		28,531
	15,305		Encore Wire Corp		704
	11,608	*,e	Energous Corp		181
	24,905	*	Energy Recovery, Inc		207
	32,051		EnerSys		2,530
	12,394	*	Engility Holdings, Inc		359
	15,803		EnPro Industries, Inc		1,125
	87,319		Equifax, Inc		11,940
	18,556		ESCO Technologies, Inc		1,078
	21,694	*	Esterline Technologies Corp		1,867
	213,649		Fastenal Co		11,003

256

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	46,509		Federal Signal Corp	$	642
	96,500		Flowserve Corp		4,673
	103,400		Fluor Corp		5,441
	223,156		Fortive Corp		13,438
	113,402		Fortune Brands Home & Security, Inc		6,901
	34,098		Franklin Electric Co, Inc		1,468
	9,868		Freightcar America, Inc		124
	30,063	e	GATX Corp		1,833
	4,980	*	Gencor Industries, Inc		74
	48,390	*	Generac Holdings, Inc		1,804
	37,226	e	General Cable Corp		668
	180,620		General Dynamics Corp		33,812
	6,434,822		General Electric Co		191,758
	22,869	*	Gibraltar Industries, Inc		942
	16,574		Global Brass & Copper Holdings, Inc		570
	5,154	*	GMS, Inc		181
	14,132		Gorman-Rupp Co		444
	39,933		Graco, Inc		3,759
	7,763		Graham Corp		179
	29,395		Granite Construction, Inc		1,475
	44,924	*	Great Lakes Dredge & Dock Corp		180
	19,838	e	Greenbrier Cos, Inc		855
	26,499		Griffon Corp		653
	23,777		H&E Equipment Services, Inc		583
	8,975		Hardinge, Inc		101
	59,172	*	Harsco Corp		754
	26,381	*	HC2 Holdings, Inc		164
	145,889	*	HD Supply Holdings, Inc		6,000
	14,478		HEICO Corp		1,262
	27,927		HEICO Corp (Class A)		2,095
	17,889	*	Herc Holdings, Inc		875
	68,372		Hexcel Corp		3,730
	43,275		Hillenbrand, Inc		1,551
	561,629		Honeywell International, Inc		70,130
	40,778		Hubbell, Inc		4,895
	34,520		Huntington Ingalls		6,912
	4,796		Hurco Cos, Inc		149
	7,224		Hyster-Yale Materials Handling, Inc		407
	55,638		IDEX Corp		5,203
	5,334	*	IES Holdings, Inc		97
	217,501		Illinois Tool Works, Inc		28,812
	186,587		Ingersoll-Rand plc		15,173
	13,472		Insteel Industries, Inc		487
	60,728		ITT, Inc		2,491
	88,889		Jacobs Engineering Group, Inc		4,914
	21,706		John Bean Technologies Corp		1,909
	675,386		Johnson Controls International plc		28,447
	71,908		Joy Global, Inc		2,031
	8,084		Kadant, Inc		480
	19,992		Kaman Corp		962
	106,685		KBR, Inc		1,603
	55,197		Kennametal, Inc		2,165

257

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	24,548	*,e	KEYW Holding Corp	$	232
	38,579	*	KLX, Inc		1,724
	35,813	*	Kratos Defense & Security Solutions, Inc		279
	56,871		L3 Technologies, Inc		9,400
	4,456	*	Lawson Products, Inc		100
	13,681	*	Layne Christensen Co		121
	28,023		Lennox International, Inc		4,688
	45,300		Lincoln Electric Holdings, Inc		3,935
	7,711	e	Lindsay Corp		680
	188,690		Lockheed Martin Corp		50,493
	16,944		LSI Industries, Inc		171
	12,907	*	Lydall, Inc		692
	100,071		Manitowoc Co, Inc		570
	246,599		Masco Corp		8,382
	22,281	*	Masonite International Corp		1,766
	48,078	*	Mastec, Inc		1,926
	28,845	*	Mercury Systems, Inc		1,126
	60,412	*	Meritor, Inc		1,035
	41,334	*	Middleby Corp		5,640
	9,476	*	Milacron Holdings Corp		176
	7,280		Miller Industries, Inc		192
	23,587	*	Moog, Inc (Class A)		1,589
	75,826	*	MRC Global, Inc		1,390
	32,473		MSC Industrial Direct Co (Class A)		3,337
	39,255		Mueller Industries, Inc		1,344
	114,327		Mueller Water Products, Inc (Class A)		1,351
	10,993	*	MYR Group, Inc		451
	3,938	e	National Presto Industries, Inc		402
	38,145	*	Navistar International Corp		939
	19,754	*	NCI Building Systems, Inc		339
	7,962	*	Neff Corp		155
	14,675		NN, Inc		370
	42,241		Nordson Corp		5,189
	123,248		Northrop Grumman Corp		29,313
	79,518	*	NOW, Inc		1,349
	5,211	*	NV5 Holdings, Inc		196
	2,354		Omega Flex, Inc		113
	43,366		Orbital ATK, Inc		4,250
	19,593	*	Orion Marine Group, Inc		146
	53,964		Oshkosh Truck Corp		3,701
	85,118		Owens Corning, Inc		5,224
	252,717		Paccar, Inc		16,983
	98,477		Parker Hannifin Corp		15,788
	9,372	*	Patrick Industries, Inc		664
	123,383		Pentair plc		7,746
	36,380	*	PGT, Inc		391
	125,956	*,e	Plug Power, Inc		174
	15,949	*	Ply Gem Holdings, Inc		314
	7,077		Powell Industries, Inc		244
	1,801		Preformed Line Products Co		94
	28,783		Primoris Services Corp		668
	18,284	*	Proto Labs, Inc		934
	25,291		Quanex Building Products Corp		512

258

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	106,691	*	Quanta Services, Inc	$	3,959
	27,582		Raven Industries, Inc		801
	220,231		Raytheon Co		33,585
	16,634	*	RBC Bearings, Inc		1,615
	33,217		Regal-Beloit Corp		2,513
	61,005	*	Rexnord Corp		1,408
	96,529		Rockwell Automation, Inc		15,031
	95,149		Rockwell Collins, Inc		9,245
	73,396		Roper Industries, Inc		15,156
	4,597	*	Rush Enterprises, Inc		143
	21,510	*	Rush Enterprises, Inc (Class A)		712
	31,268		Simpson Manufacturing Co, Inc		1,347
	8,447	*	SiteOne Landscape Supply, Inc		409
	42,208		Snap-On, Inc		7,119
	7,959	*	Sparton Corp		167
	89,515		Spirit Aerosystems Holdings, Inc (Class A)		5,185
	30,406	*	SPX Corp		737
	26,058	*	SPX FLOW, Inc		904
	9,752		Standex International Corp		977
	109,792		Stanley Works		14,588
	16,194		Sun Hydraulics Corp		585
	47,039	*,e	Sunrun, Inc		254
	8,050		Supreme Industries, Inc		163
	38,585	*	Taser International, Inc		879
	25,120	*	Teledyne Technologies, Inc		3,177
	13,262		Tennant Co		963
	77,584		Terex Corp		2,436
	15,040		Textainer Group Holdings Ltd		230
	199,025		Textron, Inc		9,472
	7,401	*,e	The ExOne Company		75
	24,419	*	Thermon Group Holdings		509
	52,342		Timken Co		2,366
	33,155		Titan International, Inc		343
	11,613	*	Titan Machinery, Inc		178
	78,083		Toro Co		4,877
	37,115		TransDigm Group, Inc		8,171
	21,659	*	Trex Co, Inc		1,503
	34,233	*	Trimas Corp		710
	110,538		Trinity Industries, Inc		2,935
	22,450		Triton International Ltd		579
	36,497		Triumph Group, Inc		940
	28,503	*	Tutor Perini Corp		906
	64,518	*	United Rentals, Inc		8,068
	571,439		United Technologies Corp		64,121
	32,260	*	Univar, Inc		989
	14,766		Universal Forest Products, Inc		1,455
	64,802	*	USG Corp		2,061
	16,466		Valmont Industries, Inc		2,560
	7,860	*	Vectrus, Inc		176
	6,270	*	Veritiv Corp		325
	12,845	*	Vicor Corp		207
	41,124		W.W. Grainger, Inc		9,572

259

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	47,771	e	Wabash National Corp	$	988
	38,291	*	WABCO Holdings, Inc		4,496
	19,517		Watsco, Inc		2,794
	20,422		Watts Water Technologies, Inc (Class A)		1,273
	93,437	*	Welbilt, Inc		1,834
	44,920	*	Wesco Aircraft Holdings, Inc		512
	31,115	*	WESCO International, Inc		2,164
	62,694	e	Westinghouse Air Brake Technologies Corp		4,890
	3,392	*	Willis Lease Finance Corp		76
	38,996		Woodward Governor Co		2,649
	130,717		Xylem, Inc		6,565
			TOTAL CAPITAL GOODS		1,391,048
COMMERCIAL & PROFESSIONAL SERVICES - 0.8%
	41,289		ABM Industries, Inc		1,800
	37,820	*	Acacia Research (Acacia Technologies)		217
	77,675	*	ACCO Brands Corp		1,021
	11,519	*	Advanced Disposal Services, Inc		260
	31,285	*	Advisory Board Co		1,464
	7,288	*,e	Aqua Metals, Inc		142
	26,021	*	ARC Document Solutions, Inc		90
	6,166		Barrett Business Services, Inc		337
	33,472		Brady Corp (Class A)		1,294
	33,001		Brink’s Co		1,764
	29,675	*	Casella Waste Systems, Inc (Class A)		419
	35,493	*	CBIZ, Inc		481
	23,506		CEB, Inc		1,848
	18,496		Ceco Environmental Corp		194
	65,113		Cintas Corp		8,239
	38,764	*	Clean Harbors, Inc		2,156
	10,504	*,e	Cogint, Inc		49
	70,675	*	Copart, Inc		4,377
	84,474		Covanta Holding Corp		1,326
	7,013		CRA International, Inc		248
	34,722		Deluxe Corp		2,506
	26,172		Dun & Bradstreet Corp		2,825
	107,512	*,m	Dyax Corp		119
	20,052		Ennis, Inc		341
	28,344		Essendant, Inc		429
	19,672		Exponent, Inc		1,172
	9,375	*	Franklin Covey Co		189
	30,776	*	FTI Consulting, Inc		1,267
	9,864	*	GP Strategies Corp		250
	51,852		Healthcare Services Group		2,234
	14,300		Heidrick & Struggles International, Inc		377
	8,893	*	Heritage-Crystal Clean, Inc		122
	43,782		Herman Miller, Inc		1,381
	25,556	*	Hill International, Inc		106
	33,809		HNI Corp		1,558
	17,289	*	Huron Consulting Group, Inc		728
	14,961	*	ICF International, Inc		618
	27,969	*	Innerworkings, Inc		279
	11,954		Insperity, Inc		1,060

260

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	49,074		Interface, Inc	$	935
	101,843		KAR Auction Services, Inc		4,448
	20,372		Kelly Services, Inc (Class A)		445
	18,302		Kforce, Inc		435
	25,171		Kimball International, Inc (Class B)		415
	35,963		Knoll, Inc		856
	42,402		Korn/Ferry International		1,335
	19,156		LSC Communications, Inc		482
	47,094		Manpower, Inc		4,830
	23,595		Matthews International Corp (Class A)		1,596
	19,108		McGrath RentCorp		641
	80,085	*,m	Media General, Inc		0
	13,300	*	Mistras Group, Inc		284
	33,943		Mobile Mini, Inc		1,035
	22,823		MSA Safety, Inc		1,613
	8,734		Multi-Color Corp		620
	36,256	*	Navigant Consulting, Inc		829
	267,111		Nielsen NV		11,034
	38,425	*	On Assignment, Inc		1,865
	113,510		Pitney Bowes, Inc		1,488
	19,971		Quad Graphics, Inc		504
	172,064		Republic Services, Inc		10,807
	28,792		Resources Connection, Inc		482
	94,240		Robert Half International, Inc		4,602
	70,333		Rollins, Inc		2,611
	29,492	*	RPX Corp		354
	51,083		RR Donnelley & Sons Co		619
	12,140	*	SP Plus Corp		410
	61,807		Steelcase, Inc (Class A)		1,035
	60,743	*	Stericycle, Inc		5,035
	20,907	*	Team, Inc		566
	42,802		Tetra Tech, Inc		1,748
	39,266	*	TransUnion		1,506
	12,065	*	TRC Cos, Inc		211
	30,336	*	TriNet Group, Inc		877
	30,958	*	TrueBlue, Inc		847
	10,976		Unifirst Corp		1,553
	16,280		US Ecology, Inc		763
	112,591	*	Verisk Analytics, Inc		9,136
	15,178		Viad Corp		686
	5,586		VSE Corp		228
	26,743	*	WageWorks, Inc		1,934
	324,064		Waste Management, Inc		23,631
	33,820		West Corp		826
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		151,444
CONSUMER DURABLES & APPAREL - 1.4%
	15,286	*	Acushnet Holdings Corp		264
	39,523	*,e	American Outdoor Brands Corp		783
	7,681		Bassett Furniture Industries, Inc		207
	21,459	*	Beazer Homes USA, Inc		260
	65,344		Brunswick Corp		3,999

261

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	55,638		CalAtlantic Group, Inc	$	2,084
	69,841		Callaway Golf Co		773
	37,197		Carter’s, Inc		3,340
	6,619	*	Cavco Industries, Inc		770
	10,457	*	Century Communities, Inc		266
	204,773		Coach, Inc		8,463
	19,985		Columbia Sportswear Co		1,174
	56,978	*	CROCS, Inc		403
	6,879		CSS Industries, Inc		178
	6,895		Culp, Inc		215
	23,766	*	Deckers Outdoor Corp		1,420
	5,204	*	Delta Apparel, Inc		92
	250,331		DR Horton, Inc		8,339
	7,865		Escalade, Inc		101
	18,783		Ethan Allen Interiors, Inc		576
	3,991		Flexsteel Industries, Inc		201
	31,215	*,e	Fossil Group, Inc		545
	82,725		Garmin Ltd		4,228
	30,360	*	G-III Apparel Group Ltd		665
	74,136	*,e	GoPro, Inc		645
	9,827	*,e	Green Brick Partners, Inc		98
	280,007	e	Hanesbrands, Inc		5,813
	82,316		Hasbro, Inc		8,217
	20,645	*	Helen of Troy Ltd		1,945
	7,913		Hooker Furniture Corp		246
	93,175	*	Hovnanian Enterprises, Inc (Class A)		211
	34,721	*	Iconix Brand Group, Inc		261
	14,775	*	Installed Building Products Inc		779
	19,406	*	iRobot Corp		1,284
	13,358	*,e	Jakks Pacific, Inc		73
	3,583		Johnson Outdoors, Inc		131
	94,263	*	Kate Spade & Co		2,190
	60,650		KB Home		1,206
	36,137		La-Z-Boy, Inc		976
	96,430		Leggett & Platt, Inc		4,852
	7,350		Lennar Corp (B Shares)		307
	128,503		Lennar Corp (Class A)		6,578
	11,316	*,e	LGI Homes, Inc		384
	16,013		Libbey, Inc		233
	7,210		Lifetime Brands, Inc		145
	70,513	*	Lululemon Athletica, Inc		3,657
	16,714	*	M/I Homes, Inc		409
	13,092	*	Malibu Boats Inc		294
	8,407		Marine Products Corp		91
	246,470		Mattel, Inc		6,312
	6,163		MCBC Holdings, Inc		100
	30,607		MDC Holdings, Inc		920
	28,574	*	Meritage Homes Corp		1,052
	118,778	*	Michael Kors Holdings Ltd		4,527
	45,442	*	Mohawk Industries, Inc		10,428
	12,667		Movado Group, Inc		316
	3,180		Nacco Industries, Inc (Class A)		222
	22,756	*	Nautilus, Inc		415

262

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	6,504	*	New Home Co Inc	$	68
	345,920		Newell Rubbermaid, Inc		16,317
	976,448		Nike, Inc (Class B)		54,417
	2,531	*	NVR, Inc		5,333
	10,973		Oxford Industries, Inc		628
	8,860	*	Perry Ellis International, Inc		190
	58,574		Phillips-Van Heusen Corp		6,061
	44,774	e	Polaris Industries, Inc		3,752
	28,935		Pool Corp		3,453
	240,748		Pulte Homes, Inc		5,670
	42,390		Ralph Lauren Corp		3,460
	27,136	*,e	Sequential Brands Group, Inc		106
	94,686	*	Skechers U.S.A., Inc (Class A)		2,599
	44,237	*	Steven Madden Ltd		1,705
	13,899	e	Sturm Ruger & Co, Inc		744
	5,163		Superior Uniform Group, Inc		96
	24,241	*	Taylor Morrison Home Corp		517
	39,568	*,e	Tempur-Pedic International, Inc		1,838
	114,595	*	Toll Brothers, Inc		4,138
	28,661	*	TopBuild Corp		1,347
	109,987	*	TRI Pointe Homes, Inc		1,379
	36,963		Tupperware Corp		2,318
	135,799	*	Under Armour, Inc		2,485
	134,677	*,e	Under Armour, Inc (Class A)		2,664
	10,905	*	Unifi, Inc		310
	10,485	*	Universal Electronics, Inc		718
	16,444	*	Vera Bradley, Inc		153
	252,966		VF Corp		13,906
	12,128	*,e	Vince Holding Corp		19
	45,102	*	Vista Outdoor, Inc		929
	5,214		Weyco Group, Inc		146
	53,819		Whirlpool Corp		9,221
	19,386	*,e	William Lyon Homes, Inc		400
	71,476		Wolverine World Wide, Inc		1,785
	21,026	*	Zagg, Inc		151
			TOTAL CONSUMER DURABLES & APPAREL		253,686
CONSUMER SERVICES - 2.2%
	13,862	*	American Public Education, Inc		317
	179,185		ARAMARK Holdings Corp		6,606
	10,215	*	Ascent Media Corp (Series A)		144
	61,218	*	Belmond Ltd.		741
	17,134	*	BJ’s Restaurants, Inc		692
	83,985		Bloomin’ Brands, Inc		1,657
	14,693		Bob Evans Farms, Inc		953
	6,185	*	Bojangles’, Inc		127
	61,116	*	Boyd Gaming Corp		1,345
	13,548	*	Bridgepoint Education, Inc		144
	30,862	*	Bright Horizons Family Solutions		2,237
	34,614		Brinker International, Inc		1,522
	14,166	*	Buffalo Wild Wings, Inc		2,164
	34,686	*	Caesars Acquisition Co		534

263

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	38,423	*,e	Caesars Entertainment Corp	$	367
	8,227	*	Cambium Learning Group, Inc		40
	8,937		Capella Education Co		760
	46,334	*	Career Education Corp		403
	299,370		Carnival Corp		17,636
	12,748		Carriage Services, Inc		346
	27,792	*	Carrols Restaurant Group, Inc		393
	16,727	*	Century Casinos, Inc		126
	31,824		Cheesecake Factory		2,016
	54,819	*,e	Chegg, Inc		463
	20,976	*	Chipotle Mexican Grill, Inc (Class A)		9,345
	24,500		Choice Hotels International, Inc		1,534
	9,566		Churchill Downs, Inc		1,520
	12,474	*	Chuy’s Holdings, Inc		372
	47,371		ClubCorp Holdings, Inc		760
	5,623		Collectors Universe		147
	14,095	e	Cracker Barrel Old Country Store, Inc		2,245
	81,760		Darden Restaurants, Inc		6,841
	28,005	*	Dave & Buster’s Entertainment, Inc		1,711
	17,725	*	Del Frisco’s Restaurant Group, Inc		320
	16,464	*	Del Taco Restaurants, Inc		218
	53,144	*	Denny’s Corp		657
	48,007		DeVry Education Group, Inc		1,702
	12,802		DineEquity, Inc		697
	36,354		Domino’s Pizza, Inc		6,700
	68,211		Dunkin Brands Group, Inc		3,730
	14,501	*,e	El Pollo Loco Holdings, Inc		173
	20,875	*,e	Eldorado Resorts, Inc		395
	2,242	*	Empire Resorts, Inc		54
	44,382		Extended Stay America, Inc		707
	20,469	*	Fiesta Restaurant Group, Inc		495
	3,971	*	Fogo De Chao, Inc		64
	7,389		Golden Entertainment, Inc		98
	3,202		Graham Holdings Co		1,920
	32,198	*	Grand Canyon Education, Inc		2,306
	157,104		H&R Block, Inc		3,653
	8,405	*,e	Habit Restaurants, Inc		149
	38,607	*	Hilton Grand Vacations, Inc		1,106
	128,691		Hilton Worldwide Holdings, Inc		7,523
	97,806	*	Houghton Mifflin Harcourt Co		993
	21,973	*	Hyatt Hotels Corp		1,186
	83,898		ILG, Inc		1,758
	68,009		International Game Technology plc		1,612
	19,205		International Speedway Corp (Class A)		710
	13,700	*	Intrawest Resorts Holdings Inc		343
	18,491	*	Isle of Capri Casinos, Inc		487
	10,324	*	J Alexander’s Holdings, Inc		104
	23,513		Jack in the Box, Inc		2,392
	11,200	*,e	Jamba, Inc		101
	26,055	*	K12, Inc		499
	6,015	*,e	Kona Grill, Inc		38
	69,470	*	La Quinta Holdings, Inc		939
	270,501		Las Vegas Sands Corp		15,437

264

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	3,365		Liberty Tax, Inc	$	48
	10,890	*	Lindblad Expeditions Holdings, Inc		98
	13,511	*	Luby’s, Inc		42
	14,891		Marcus Corp		478
	237,924		Marriott International, Inc (Class A)		22,408
	16,563		Marriott Vacations Worldwide Corp		1,655
	612,596		McDonald’s Corp		79,399
	348,927		MGM Resorts International		9,561
	7,140	*	Monarch Casino & Resort, Inc		211
	2,378	*	Nathan’s Famous, Inc		149
	8,091	*,e	Noodles & Co		46
	112,841	*	Norwegian Cruise Line Holdings Ltd		5,724
	15,411	*,e	Panera Bread Co (Class A)		4,036
	20,085		Papa John’s International, Inc		1,608
	60,160	*	Penn National Gaming, Inc		1,109
	43,980	*	Pinnacle Entertainment, Inc		858
	21,053		Planet Fitness, Inc		406
	16,455	*	Potbelly Corp		229
	11,433	*	Red Lion Hotels Corp		81
	10,662	*	Red Robin Gourmet Burgers, Inc		623
	22,107		Red Rock Resorts, Inc		490
	30,479	*	Regis Corp		357
	124,991		Royal Caribbean Cruises Ltd		12,263
	46,223	*	Ruby Tuesday, Inc		130
	26,831		Ruth’s Chris Steak House, Inc		538
	37,197	*	Scientific Games Corp (Class A)		880
	51,334		SeaWorld Entertainment, Inc		938
	135,547		Service Corp International		4,186
	100,430	*	ServiceMaster Global Holdings, Inc		4,193
	11,550	*,e	Shake Shack, Inc		386
	53,284		Six Flags Entertainment Corp		3,170
	34,470		Sonic Corp		874
	38,204	*	Sotheby’s (Class A)		1,737
	9,984		Speedway Motorsports, Inc		188
	1,054,185		Starbucks Corp		61,554
	769	*	Steak N Shake Co		332
	7,659		Strayer Education, Inc		616
	48,860		Texas Roadhouse, Inc (Class A)		2,176
	28,716		Vail Resorts, Inc		5,511
	20,333	*	Weight Watchers International, Inc		317
	154,822		Wendy’s		2,107
	11,781		Wingstop, Inc		333
	77,942		Wyndham Worldwide Corp		6,570
	59,328		Wynn Resorts Ltd		6,800
	255,489	*	Yum China Holdings, Inc		6,949
	250,441		Yum! Brands, Inc		16,003
	14,098	*,e	Zoe’s Kitchen, Inc		261
			TOTAL CONSUMER SERVICES		394,102
DIVERSIFIED FINANCIALS - 4.1%
	40,483		Affiliated Managers Group, Inc		6,637
	21,134		AG Mortgage Investment Trust		381

265

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	246,292		AGNC Investment Corp	$	4,899
	329,397		Ally Financial, Inc		6,697
	42,959		Altisource Residential Corp		655
	557,758		American Express Co		44,124
	110,069		Ameriprise Financial, Inc		14,274
	740,363		Annaly Capital Management, Inc		8,225
	70,479		Anworth Mortgage Asset Corp		391
	61,613		Apollo Commercial Real Estate Finance, Inc		1,159
	22,112		Ares Commercial Real Estate Corp		296
	16,506	e	Arlington Asset Investment Corp (Class A)		233
	28,906	e	ARMOUR Residential REIT, Inc		656
	27,757		Artisan Partners Asset Management, Inc		766
	4,901		Associated Capital Group, Inc		177
	6,841		B. Riley Financial, Inc		103
	776,450		Bank of New York Mellon Corp		36,672
	160,048		BGC Partners, Inc (Class A)		1,818
	92,615		BlackRock, Inc		35,519
	355,819		Capital One Financial Corp		30,835
	71,072		Capstead Mortgage Corp		749
	60,239		CBOE Holdings, Inc		4,884
	866,815		Charles Schwab Corp		35,375
	132,524		Chimera Investment Corp		2,674
	250,444		CME Group, Inc		29,753
	15,440		Cohen & Steers, Inc		617
	10,942	*,e	Cowen Group, Inc		164
	6,269	*,e	Credit Acceptance Corp		1,250
	112,419		CYS Investments, Inc		894
	2,179		Diamond Hill Investment Group, Inc		424
	286,445		Discover Financial Services		19,590
	19,156	*	Donnelley Financial Solutions, Inc		370
	33,323		Dynex Capital, Inc		236
	207,162	*	E*TRADE Financial Corp		7,228
	81,116		Eaton Vance Corp		3,647
	19,334	*,e	Encore Capital Group, Inc		595
	18,647	*	Enova International, Inc		277
	28,885		Evercore Partners, Inc (Class A)		2,250
	38,445	*	Ezcorp, Inc (Class A)		313
	27,682		Factset Research Systems, Inc		4,565
	5,066		FBR & Co		91
	65,346		Federated Investors, Inc (Class B)		1,721
	39,058		Financial Engines, Inc		1,701
	35,793		FirstCash, Inc		1,759
	48,331	*	FNFV Group		640
	266,333		Franklin Resources, Inc		11,223
	23,847		Gain Capital Holdings, Inc		199
	4,901		GAMCO Investors, Inc (Class A)		145
	284,816		Goldman Sachs Group, Inc		65,428
	3,738		Great Ajax Corp		49
	33,057	*	Green Dot Corp		1,103
	22,433		Greenhill & Co, Inc		657
	26,910		Hannon Armstrong Sustainable Infrastructure Capital, Inc		544
	3,529		Hennessy Advisors, Inc		59
	8,431		Houlihan Lokey, Inc		290

266

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	47,028		Interactive Brokers Group, Inc (Class A)	$	1,633
	435,690		IntercontinentalExchange Group, Inc		26,085
	11,369	*	INTL FCStone, Inc		432
	301,988		Invesco Ltd		9,250
	88,593		Invesco Mortgage Capital, Inc		1,366
	25,877		Investment Technology Group, Inc		524
	39,530		iShares Russell 2000 Index Fund		5,435
	109,114		Janus Capital Group, Inc		1,440
	32,261	*	KCG Holdings, Inc		575
	28,349		Ladder Capital Corp		409
	73,441	*	Ladenburg Thalmann Financial Services, Inc		182
	94,587		Lazard Ltd (Class A)		4,350
	77,940		Legg Mason, Inc		2,814
	238,851	*	LendingClub Corp		1,311
	242,948		Leucadia National Corp		6,317
	63,483		LPL Financial Holdings, Inc		2,529
	10,830		Manning & Napier, Inc		62
	26,997		MarketAxess Holdings, Inc		5,062
	6,533		Marlin Business Services Corp		168
	5,352		Medley Management, Inc		44
	277,088		MFA Mortgage Investments, Inc		2,239
	12,795		Moelis & Co		493
	124,568		Moody’s Corp		13,957
	1,047,639		Morgan Stanley		44,881
	12,655		Morningstar, Inc		995
	63,475		MSCI, Inc (Class A)		6,169
	34,047		MTGE Investment Corp		570
	82,945		NASDAQ OMX Group, Inc		5,761
	223,145		Navient Corp		3,294
	14,990		Nelnet, Inc (Class A)		657
	187,248		New Residential Investment Corp		3,179
	72,745		New York Mortgage Trust, Inc		449
	18,457		NewStar Financial, Inc		195
	153,480		Northern Trust Corp		13,288
	29,274		OM Asset Management plc		443
	36,046	*,e	On Deck Capital, Inc		182
	38,494	*	OneMain Holdings, Inc		957
	7,363		Oppenheimer Holdings, Inc		126
	6,966		Owens Realty Mortgage, Inc		124
	49,860		PennyMac Mortgage Investment Trust		885
	17,372	*	Pico Holdings, Inc		243
	12,046		Piper Jaffray Cos		769
	13,025		PJT Partners, Inc		457
	33,753	*	PRA Group, Inc		1,119
	9,591		Pzena Investment Management, Inc (Class A)		94
	94,509		Raymond James Financial, Inc		7,207
	56,629		Redwood Trust, Inc		941
	8,577	*	Regional Management Corp		167
	22,197		Resource Capital Corp		217
	194,818		S&P Global, Inc		25,471
	16,951	*	Safeguard Scientifics, Inc		215
	81,224	*	Santander Consumer USA Holdings, Inc		1,082

267

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	92,504		SEI Investments Co	$	4,666
	5,338		Silvercrest Asset Management Group, Inc		71
	317,527	*	SLM Corp		3,842
	17,505		SPDR S&P MidCap 400 ETF Trust		5,469
	170,105		SPDR Trust Series 1		40,101
	176,456		Starwood Property Trust, Inc		3,984
	293,319		State Street Corp		23,351
	49,761	*	Stifel Financial Corp		2,497
	617,749		Synchrony Financial		21,189
	178,435		T Rowe Price Group, Inc		12,160
	187,170		TD Ameritrade Holding Corp		7,273
	226,129		Thomson Corp		9,776
	22,143		Tiptree Financial, Inc		162
	258,619		Two Harbors Investment Corp		2,480
	18,355		Virtu Financial, Inc		312
	4,259		Virtus Investment Partners, Inc		451
	151,871		Voya Financial, Inc		5,765
	62,904	e	Waddell & Reed Financial, Inc (Class A)		1,069
	28,538		Western Asset Mortgage Capital Corp		279
	5,409		Westwood Holdings Group, Inc		289
	84,317	e	WisdomTree Investments, Inc		766
	1,744	*,e	World Acceptance Corp		90
			TOTAL DIVERSIFIED FINANCIALS		748,837
ENERGY - 6.1%
	70,225	*	Abraxas Petroleum Corp		142
	1,730		Adams Resources & Energy, Inc		65
	23,232		Alon USA Energy, Inc		283
	411,583		Anadarko Petroleum Corp		25,518
	133,211	*	Antero Resources Corp		3,039
	280,300		Apache Corp		14,405
	51,391		Archrock, Inc		637
	14,064	e	Ardmore Shipping Corp		113
	47,265	*	Atwood Oceanics, Inc		450
	322,337		Baker Hughes, Inc		19,282
	36,170	*	Bill Barrett Corp		165
	26,221		Bristow Group, Inc		399
	341,979		Cabot Oil & Gas Corp		8,177
	23,456	*,e	California Resources Corp		353
	117,615	*	Callon Petroleum Co		1,548
	15,028	*,e	CARBO Ceramics, Inc		196
	40,960	*	Carrizo Oil & Gas, Inc		1,174
	147,239	*	Cheniere Energy, Inc		6,960
	449,095	*	Chesapeake Energy Corp		2,668
	1,383,296		Chevron Corp		148,524
	68,278		Cimarex Energy Co		8,159
	4,367	*	Clayton Williams Energy, Inc		577
	62,618	*	Clean Energy Fuels Corp		160
	104,456	*	Concho Resources, Inc		13,406
	916,202		ConocoPhillips		45,691
	169,243	*	Consol Energy, Inc		2,840
	12,994	*	Contango Oil & Gas Co		95
	64,271	*	Continental Resources, Inc		2,919

268

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	11,149	e	CVR Energy, Inc	$	224
	15,277	*	Dawson Geophysical Co		85
	42,034		Delek US Holdings, Inc		1,020
	266,127	*,e	Denbury Resources, Inc		687
	388,368		Devon Energy Corp		16,203
	66,927		DHT Holdings, Inc		299
	47,743	*,e	Diamond Offshore Drilling, Inc		798
	60,596	*	Diamondback Energy, Inc		6,285
	17,982	*	Dorian LPG Ltd		189
	28,933	*,e	Dril-Quip, Inc		1,578
	72,966	*	Energen Corp		3,972
	205,165		Ensco plc		1,836
	405,888		EOG Resources, Inc		39,594
	28,367	*,e	EP Energy Corp		135
	127,879		EQT Corp		7,813
	14,364	*	Era Group, Inc		190
	17,517		Evolution Petroleum Corp		140
	25,695	*	Exterran Corp		808
	27,258	*,e	Extraction Oil & Gas, Inc		506
	3,077,489		Exxon Mobil Corp		252,385
	66,615	*,e	Fairmount Santrol Holdings, Inc		488
	43,546	*	Forum Energy Technologies, Inc		901
	26,300		Frank’s International NV		278
	47,943		Frontline Ltd		323
	32,033		GasLog Ltd		492
	20,488	*	Gener8 Maritime, Inc		116
	9,836	*	Geospace Technologies Corp		160
	66,097		Golar LNG Ltd		1,846
	26,945		Green Plains Renewable Energy, Inc		667
	117,648	*	Gulfport Energy Corp		2,022
	634,647		Halliburton Co		31,231
	77,857	*	Helix Energy Solutions Group, Inc		605
	71,374	e	Helmerich & Payne, Inc		4,751
	209,403		Hess Corp		10,095
	120,104		HollyFrontier Corp		3,404
	23,510	*	Independence Contract Drilling, Inc		130
	8,744	*	International Seaways, Inc		167
	823	*	Isramco, Inc		96
	47,827	*,e	Jones Energy, Inc (Class A)		122
	1,425,609		Kinder Morgan, Inc		30,993
	115,749	*,e	Kosmos Energy LLC		771
	100,057	*	Laredo Petroleum Holdings, Inc		1,461
	630,083		Marathon Oil Corp		9,955
	388,000		Marathon Petroleum Corp		19,610
	60,990	*	Matador Resources Co		1,451
	19,934	*	Matrix Service Co		329
	180,710	*	McDermott International, Inc		1,220
	123,713		Murphy Oil Corp		3,537
	208,794		Nabors Industries Ltd		2,729
	281,302		National Oilwell Varco, Inc		11,277
	9,713	*	Natural Gas Services Group, Inc		253
	61,477		Navios Maritime Acq Corp		106

269

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	147,391	*	Newfield Exploration Co	$	5,440
	63,344	*	Newpark Resources, Inc		513
	193,267		Noble Corp plc		1,196
	317,190		Noble Energy, Inc		10,892
	68,002	e	Nordic American Tanker Shipping		556
	48,403	*,e	Northern Oil And Gas, Inc		126
	170,623	*	Oasis Petroleum, Inc		2,433
	568,080		Occidental Petroleum Corp		35,994
	73,330		Oceaneering International, Inc		1,986
	38,178	*	Oil States International, Inc		1,266
	155,126		Oneok, Inc		8,600
	26,237		Overseas Shipholding Group, Inc		101
	15,683	*	Pacific Ethanol, Inc		107
	10,734		Panhandle Oil and Gas, Inc (Class A)		206
	23,180	*,e	Par Pacific Holdings, Inc		382
	96,030	*	Parker Drilling Co		168
	163,983	*	Parsley Energy, Inc		5,331
	109,613		Patterson-UTI Energy, Inc		2,660
	71,772		PBF Energy, Inc		1,591
	40,095	*	PDC Energy, Inc		2,500
	9,723	*	PHI, Inc		116
	334,170		Phillips 66		26,473
	42,944	*	Pioneer Energy Services Corp		172
	120,314		Pioneer Natural Resources Co		22,406
	173,948	*	Questar Market Resources, Inc		2,211
	152,904		Range Resources Corp		4,450
	32,964	*	Renewable Energy Group, Inc		344
	4,186	*	Rex American Resources Corp		379
	113,969	*	Rice Energy, Inc		2,701
	9,601	*	RigNet, Inc		206
	26,446	*	Ring Energy, Inc		286
	93,726	*	Rowan Cos plc		1,460
	42,512	e	RPC, Inc		778
	72,096	*	RSP Permian, Inc		2,987
	39,750	*,e	Sanchez Energy Corp		379
	1,025,699		Schlumberger Ltd		80,107
	121,758		Scorpio Tankers, Inc		541
	11,768	*	SEACOR Holdings, Inc		814
	273,827	*,e	Seadrill Ltd		452
	48,551		SemGroup Corp		1,748
	45,041	e	Ship Finance International Ltd		662
	70,864		SM Energy Co		1,702
	12,316	*	Smart Sand, Inc		200
	359,770	*	Southwestern Energy Co		2,939
	136,776	*,e	SRC Energy, Inc		1,154
	111,107	*	Superior Energy Services		1,584
	121,379		Targa Resources Investments, Inc		7,271
	46,213	e	Teekay Corp		423
	85,424		Teekay Tankers Ltd (Class A)		175
	26,063	*	Tesco Corp		210
	88,102		Tesoro Corp		7,142
	61,337	*	Tetra Technologies, Inc		250
	250,444	*,e	Transocean Ltd (NYSE)		3,118

270

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	36,980	*	Unit Corp	$	893
	54,527		US Silica Holdings Inc		2,617
	344,996		Valero Energy Corp		22,870
	26,733	*,e	W&T Offshore, Inc		74
	724,687	*	Weatherford International Ltd		4,819
	59,385		Western Refining, Inc		2,083
	14,035	*	Westmoreland Coal Co		204
	149,893	*	Whiting Petroleum Corp		1,418
	33,684	*	Willbros Group, Inc		92
	554,935		Williams Cos, Inc		16,421
	51,116		World Fuel Services Corp		1,853
	284,313	*	WPX Energy, Inc		3,807
			TOTAL ENERGY		1,099,317
FOOD & STAPLES RETAILING - 1.4%
	19,849		Andersons, Inc		752
	28,759	e	Casey’s General Stores, Inc		3,228
	14,374	*,e	Chefs’ Warehouse Holdings, Inc		200
	795,193		CVS Health Corp		62,423
	10,217		Ingles Markets, Inc (Class A)		441
	707,530		Kroger Co		20,865
	6,410	*,e	Natural Grocers by Vitamin C		66
	27,978	*	Performance Food Group Co		666
	14,319		Pricesmart, Inc		1,320
	763,555	*	Rite Aid Corp		3,245
	17,661	*,e	Smart & Final Stores, Inc		214
	27,344		Spartan Stores, Inc		957
	103,685	*	Sprouts Farmers Market, Inc		2,397
	191,905	*	Supervalu, Inc		741
	378,652		Sysco Corp		19,660
	36,929	*	United Natural Foods, Inc		1,596
	33,013	*	US Foods Holding Corp		924
	4,843		Village Super Market (Class A)		128
	628,887		Walgreens Boots Alliance, Inc		52,229
	1,113,067		Wal-Mart Stores, Inc		80,230
	6,935		Weis Markets, Inc		414
	236,947		Whole Foods Market, Inc		7,042
			TOTAL FOOD & STAPLES RETAILING		259,738
FOOD, BEVERAGE & TOBACCO - 5.1%
	10,821		AdvancePierre Foods Holdings, Inc		337
	2,319		Alico, Inc		61
	1,445,323		Altria Group, Inc		103,225
	18,848	*,e	Amplify Snack Brands, Inc		158
	424,965		Archer Daniels Midland Co		19,565
	48,393	e	B&G Foods, Inc (Class A)		1,948
	44,222	*	Blue Buffalo Pet Products, Inc		1,017
	6,759	*	Boston Beer Co, Inc (Class A)		978
	40,474		Brown-Forman Corp		1,905
	133,811		Brown-Forman Corp (Class B)		6,179
	103,143		Bunge Ltd		8,175

271

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	10,841	e	Calavo Growers, Inc	$	657
	22,629	e	Cal-Maine Foods, Inc		833
	137,959		Campbell Soup Co		7,897
	3,512		Coca-Cola Bottling Co Consolidated		724
	2,885,162		Coca-Cola Co		122,446
	320,411		ConAgra Foods, Inc		12,925
	117,113		Constellation Brands, Inc (Class A)		18,981
	319,507		Costco Wholesale Corp		53,578
	7,653	*	Craft Brewers Alliance, Inc		102
	122,720	*	Darling International, Inc		1,782
	70,011		Dean Foods Co		1,376
	137,423		Dr Pepper Snapple Group, Inc		13,457
	5,320	*	Farmer Bros Co		188
	128,238		Flowers Foods, Inc		2,489
	23,973		Fresh Del Monte Produce, Inc		1,420
	15,781	*,e	Freshpet, Inc		174
	440,990		General Mills, Inc		26,023
	76,104	*	Hain Celestial Group, Inc		2,831
	104,240		Hershey Co		11,388
	199,780		Hormel Foods Corp		6,918
	52,645		Ingredion, Inc		6,340
	14,455	*,e	Inventure Foods, Inc		64
	11,326		J&J Snack Foods Corp		1,535
	85,788		J.M. Smucker Co		11,245
	5,780		John B. Sanfilippo & Son, Inc		423
	184,673		Kellogg Co		13,409
	434,968		Kraft Heinz Co		39,499
	108,161		Lamb Weston Holdings, Inc		4,549
	14,003		Lancaster Colony Corp		1,804
	19,323	*	Landec Corp		232
	3,603	*	Lifeway Foods, Inc		39
	8,386		Limoneira Co		175
	85,901		McCormick & Co, Inc		8,380
	137,192		Mead Johnson Nutrition Co		12,221
	9,193		Mgp Ingredients, Inc		499
	126,086		Molson Coors Brewing Co (Class B)		12,068
	1,108,143		Mondelez International, Inc		47,739
	310,077	*	Monster Beverage Corp		14,316
	8,574		National Beverage Corp		725
	15,084		Omega Protein Corp		302
	1,069,570		PepsiCo, Inc		119,642
	1,147,080		Philip Morris International, Inc		129,505
	43,650		Pilgrim’s Pride Corp		982
	85,273		Pinnacle Foods, Inc		4,935
	46,235	*	Post Holdings, Inc		4,047
	15,145	*	Primo Water Corp		206
	610,136		Reynolds American, Inc		38,451
	14,731		Sanderson Farms, Inc		1,530
	192		Seaboard Corp		801
	5,451	*	Seneca Foods Corp		197
	60,218		Snyder’s-Lance, Inc		2,427
	14,223	*,e	Synutra International, Inc		85
	14,839	e	Tootsie Roll Industries, Inc		554

272

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	40,589	*,e	TreeHouse Foods, Inc	$	3,436
	4,760	*	Turning Point Brands, Inc		74
	212,323		Tyson Foods, Inc (Class A)		13,103
	16,609		Universal Corp		1,175
	62,359		Vector Group Ltd		1,297
	122,974	*	WhiteWave Foods Co (Class A)		6,905
			TOTAL FOOD, BEVERAGE & TOBACCO		934,653
HEALTH CARE EQUIPMENT & SERVICES - 5.2%
	5,996	*,e	AAC Holdings, Inc		51
	16,624		Abaxis, Inc		806
	1,259,663		Abbott Laboratories		55,942
	29,347	*	Abiomed, Inc		3,674
	52,869	*,e	Acadia Healthcare Co, Inc		2,305
	58,290	*	Accuray, Inc		277
	20,426		Aceto Corp		323
	4,240	*	Addus HomeCare Corp		136
	249,547		Aetna Inc		31,830
	26,310	*	Air Methods Corp		1,131
	63,974	*	Alere, Inc		2,542
	53,060	*	Align Technology, Inc		6,087
	133,589	*	Allscripts Healthcare Solutions, Inc		1,694
	8,300	*	Almost Family, Inc		403
	21,596	*	Amedisys, Inc		1,103
	6,596	*,e	American Renal Associates Holdings, Inc		111
	121,078		AmerisourceBergen Corp		10,715
	34,893	*	AMN Healthcare Services, Inc		1,417
	9,253		Analogic Corp		702
	18,523	*	Angiodynamics, Inc		321
	10,943	*	Anika Therapeutics, Inc		475
	192,673		Anthem, Inc		31,864
	28,653	*,e	athenahealth, Inc		3,229
	21,089	*	AtriCure, Inc		404
	1,165		Atrion Corp		545
	8,607	*,e	Avinger, Inc		16
	18,090	*	AxoGen, Inc		189
	53,973		Bard (C.R.), Inc		13,414
	361,842		Baxter International, Inc		18,765
	154,243		Becton Dickinson & Co		28,294
	51,896	*,e	BioScrip, Inc		88
	19,708	*	BioTelemetry, Inc		571
	996,948	*	Boston Scientific Corp		24,794
	135,933	*	Brookdale Senior Living, Inc		1,826
	25,974		Cantel Medical Corp		2,081
	21,051	*	Capital Senior Living Corp		296
	242,655		Cardinal Health, Inc		19,789
	23,626	*	Cardiovascular Systems, Inc		668
	24,169	*,e	Castlight Health, Inc		88
	124,149	*	Centene Corp		8,847
	216,652	*	Cerner Corp		12,750
	71,510	*,e	Cerus Corp		318
	11,897		Chemed Corp		2,173

273

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	188,472		Cigna Corp	$	27,609
	11,529	*	Civitas Solutions, Inc		212
	87,364	*	Community Health Systems, Inc		775
	8,700	e	Computer Programs & Systems, Inc		244
	27,401	*,e	ConforMIS, Inc		143
	20,631		Conmed Corp		916
	34,789		Cooper Cos, Inc		6,954
	7,512	*	Corvel Corp		327
	9,376	*	Cotiviti Holdings, Inc		390
	22,090	*	Cross Country Healthcare, Inc		317
	23,064		CryoLife, Inc		384
	10,389	*	Cutera, Inc		215
	447,698	*	Danaher Corp		38,292
	116,425	*	DaVita, Inc		7,913
	168,778		Dentsply Sirona, Inc		10,538
	59,613	*	DexCom, Inc		5,051
	31,033	*	Diplomat Pharmacy, Inc		495
	155,180	*	Edwards Lifesciences Corp		14,598
	59,131	*,e	Endologix, Inc		428
	35,447		Ensign Group, Inc		666
	3,873	*	Entellus Medical, Inc		53
	84,226	*	Envision Healthcare Corp		5,165
	8,762	*,e	Evolent Health, Inc		195
	7,074	*	Exactech, Inc		178
	441,490	*	Express Scripts Holding Co		29,099
	28,070	*	Genesis Health Care, Inc		74
	30,765	*	GenMark Diagnostics, Inc		394
	12,233	*	Glaukos Corp		628
	51,975	*	Globus Medical, Inc		1,539
	38,562	*	Haemonetics Corp		1,564
	35,247	*	Halyard Health, Inc		1,343
	227,745	*	HCA Holdings, Inc		20,267
	32,162	*	HealthEquity, Inc		1,365
	65,205		Healthsouth Corp		2,791
	18,780	*	HealthStream, Inc		455
	60,006	*	Henry Schein, Inc		10,199
	48,728		Hill-Rom Holdings, Inc		3,440
	60,877	*	HMS Holdings Corp		1,238
	207,113	*	Hologic, Inc		8,813
	109,218		Humana, Inc		22,514
	10,885	*	ICU Medical, Inc		1,662
	64,854	*	Idexx Laboratories, Inc		10,027
	11,764	*	Inogen Inc		912
	43,464	*,e	Inovalon Holdings, Inc		548
	41,898	*	Insulet Corp		1,805
	22,691	*	Integer Holding Corp		912
	44,740	*	Integra LifeSciences Holdings Corp		1,885
	27,895	*	Intuitive Surgical, Inc		21,381
	23,110		Invacare Corp		275
	19,324	*,e	InVivo Therapeutics Holdings Corp		78
	2,271	*,e	iRadimed Corp		20
	5,587	*	IRIDEX Corp		66
	18,489	*	K2M Group Holdings, Inc		379

274

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	61,383		Kindred Healthcare, Inc	$	513
	74,390	*	Laboratory Corp of America Holdings		10,673
	7,415		Landauer, Inc		361
	9,523		LeMaitre Vascular, Inc		235
	9,839	*	LHC Group, Inc		530
	29,927	*	LifePoint Hospitals, Inc		1,960
	18,203	*	Magellan Health Services, Inc		1,257
	29,924	*	Masimo Corp		2,791
	156,545		McKesson Corp		23,209
	39,014	*	Medidata Solutions, Inc		2,251
	67,894	*	MEDNAX, Inc		4,710
	1,036,159		Medtronic plc		83,473
	31,965		Meridian Bioscience, Inc		441
	32,366	*	Merit Medical Systems, Inc		935
	31,755	*	Molina Healthcare, Inc		1,448
	7,753		National Healthcare Corp		553
	5,598		National Research Corp		110
	24,197	*	Natus Medical, Inc		950
	26,800	*	Neogen Corp		1,757
	17,633	*	Nevro Corp		1,652
	38,458	*,e	Nobilis Health Corp		65
	37,361	*,e	Novocure Ltd		303
	36,380	*	NuVasive, Inc		2,717
	45,234	*	NxStage Medical, Inc		1,214
	27,483	*	Omnicell, Inc		1,117
	36,642	*	OraSure Technologies, Inc		474
	12,159	*	Orthofix International NV		464
	48,050		Owens & Minor, Inc		1,663
	14,688	*	Oxford Immunotec Global plc		228
	61,845	e	Patterson Cos, Inc		2,797
	18,741	*,e	Penumbra, Inc		1,564
	22,536	*	PharMerica Corp		527
	30,743	*	Premier, Inc		979
	10,213	*	Providence Service Corp		454
	37,773	*	Quality Systems, Inc		576
	105,165		Quest Diagnostics, Inc		10,326
	21,781	*	Quidel Corp		493
	21,841	*	Quorum Health Corp		119
	25,914	*	RadNet, Inc		153
	102,647		Resmed, Inc		7,388
	37,335	*,e	Rockwell Medical, Inc		234
	38,631	*	RTI Biologics, Inc		155
	9,992	*,e	Second Sight Medical Products, Inc		12
	77,335	*	Select Medical Holdings Corp		1,032
	21,089	*,e	Senseonics Holdings, Inc		38
	30,482	*	Spectranetics Corp		888
	26,141	*	Staar Surgical Co		256
	249,333		Stryker Corp		32,825
	13,353	*	Surgery Partners, Inc		260
	11,439	*	SurModics, Inc		275
	15,157	*,e	Teladoc, Inc		379
	32,425		Teleflex, Inc		6,282

275

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	59,665	*,e	Tenet Healthcare Corp	$	1,057
	23,599	*	Tivity Health, Inc		687
	47,535	*,e	TransEnterix, Inc		58
	18,039	*	Triple-S Management Corp (Class B)		317
	697,779		UnitedHealth Group, Inc		114,443
	42,895		Universal American Corp		428
	63,572		Universal Health Services, Inc (Class B)		7,912
	9,158		US Physical Therapy, Inc		598
	2,349		Utah Medical Products, Inc		146
	28,449	*	Varex Imaging Corp		956
	69,859	*	Varian Medical Systems, Inc		6,366
	56,676	*	VCA Antech, Inc		5,186
	69,222	*	Veeva Systems, Inc		3,550
	15,934	*	Vocera Communications, Inc		396
	32,655	*	WellCare Health Plans, Inc		4,579
	52,038		West Pharmaceutical Services, Inc		4,247
	76,096	*	Wright Medical Group NV		2,368
	25,871	*	Zeltiq Aesthetics, Inc		1,439
	136,133		Zimmer Holdings, Inc		16,623
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		948,207
HOUSEHOLD & PERSONAL PRODUCTS - 1.7%
	323,551	*	Avon Products, Inc		1,424
	4,290	*,e	Central Garden & Pet Co		159
	24,471	*	Central Garden and Pet Co (Class A)		850
	185,644		Church & Dwight Co, Inc		9,258
	97,162		Clorox Co		13,100
	641,220		Colgate-Palmolive Co		46,931
	338,633		Coty, Inc		6,139
	43,691	*	Edgewell Personal Care Co		3,196
	46,250		Energizer Holdings, Inc		2,578
	157,776		Estee Lauder Cos (Class A)		13,378
	54,206	*,e	Herbalife Ltd		3,152
	91,121	*	HRG Group, Inc		1,760
	12,258		Inter Parfums, Inc		448
	259,237		Kimberly-Clark Corp		34,123
	4,694	*	Lifevantage Corp		25
	8,647		Medifast, Inc		384
	5,685	e	Natural Health Trends Corp		164
	5,868		Nature’s Sunshine Products, Inc		59
	40,942		Nu Skin Enterprises, Inc (Class A)		2,274
	6,693		Nutraceutical International Corp		209
	3,981		Oil-Dri Corp of America		148
	6,476	e	Orchids Paper Products Co		155
	1,884,198		Procter & Gamble Co		169,295
	8,319	*	Revlon, Inc (Class A)		232
	18,325		Spectrum Brands, Inc		2,547
	6,864	*	USANA Health Sciences, Inc		395
	10,350		WD-40 Co		1,128
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		313,511

276

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
INSURANCE - 4.2%
	297,968		Aflac, Inc	$	21,579
	11,198	*	Alleghany Corp		6,883
	65,031		Allied World Assurance Co Holdings Ltd		3,453
	274,860		Allstate Corp		22,398
	18,406	*	AMBAC Financial Group, Inc		347
	59,335		American Equity Investment Life Holding Co		1,402
	48,186		American Financial Group, Inc		4,598
	749,366		American International Group, Inc		46,783
	5,469		American National Insurance Co		645
	13,468		Amerisafe, Inc		874
	65,442		Amtrust Financial Services, Inc		1,208
	194,107		Aon plc		23,039
	84,604	*	Arch Capital Group Ltd		8,018
	23,095		Argo Group International Holdings Ltd		1,566
	130,135		Arthur J. Gallagher & Co		7,358
	43,239		Aspen Insurance Holdings Ltd		2,251
	41,493		Assurant, Inc		3,970
	98,710		Assured Guaranty Ltd		3,663
	18,971	*	Athene Holding Ltd		948
	8,461	*	Atlas Financial Holdings, Inc		115
	67,951		Axis Capital Holdings Ltd		4,555
	6,904		Baldwin & Lyons, Inc (Class B)		169
	1,397,608	*	Berkshire Hathaway, Inc (Class B)		232,953
	4,749		Blue Capital Reinsurance Holdings Ltd		92
	86,667		Brown & Brown, Inc		3,616
	342,714		Chubb Ltd		46,695
	112,100		Cincinnati Financial Corp		8,101
	32,879	*,e	Citizens, Inc (Class A)		244
	19,762		CNA Financial Corp		873
	132,357		Conseco, Inc		2,713
	11,609	e	Crawford & Co (Class B)		116
	7,812		Donegal Group, Inc (Class A)		138
	13,558	*	eHealth, Inc		163
	6,754		EMC Insurance Group, Inc		189
	24,104		Employers Holdings, Inc		915
	6,955	*	Enstar Group Ltd		1,330
	17,977		Erie Indemnity Co (Class A)		2,206
	29,692		Everest Re Group Ltd		6,942
	8,273		FBL Financial Group, Inc (Class A)		541
	10,321		Federated National Holding Co		180
	12,400	e	Fidelity & Guaranty Life		345
	80,939		First American Financial Corp		3,179
	194,828		FNF Group		7,587
	368,772	*	Genworth Financial, Inc (Class A)		1,519
	6,929	*	Global Indemnity Ltd		267
	20,683	*	Greenlight Capital Re Ltd (Class A)		457
	7,438	*	Hallmark Financial Services		82
	31,429		Hanover Insurance Group, Inc		2,830
	269,597		Hartford Financial Services Group, Inc		12,959
	6,789	e	HCI Group, Inc		309
	18,411		Heritage Insurance Holdings, Inc		235
	29,606		Horace Mann Educators Corp		1,215

277

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	5,951		Independence Holding Co	$	111
	8,975		Infinity Property & Casualty Corp		857
	1,119		Investors Title Co		177
	10,696		James River Group Holdings Ltd		458
	32,110		Kemper Corp		1,281
	163,485		Lincoln National Corp		10,700
	208,252		Loews Corp		9,740
	43,759		Maiden Holdings Ltd		613
	10,146	*	Markel Corp		9,901
	382,039		Marsh & McLennan Cos, Inc		28,229
	95,769	*	MBIA, Inc		811
	20,342	e	Mercury General Corp		1,241
	682,992		Metlife, Inc		36,076
	35,673		National General Holdings Corp		848
	1,551		National Western Life Group, Inc		472
	16,676		Navigators Group, Inc		905
	161,467		Old Republic International Corp		3,307
	17,609		OneBeacon Insurance Group Ltd (Class A)		282
	6,329	*,e	Patriot National, Inc		18
	37,136		Primerica, Inc		3,053
	198,757		Principal Financial Group		12,543
	37,307		ProAssurance Corp		2,248
	430,429		Progressive Corp		16,864
	319,439		Prudential Financial, Inc		34,078
	47,454		Reinsurance Group of America, Inc (Class A)		6,026
	31,205		RenaissanceRe Holdings Ltd		4,514
	30,938		RLI Corp		1,857
	11,093		Safety Insurance Group, Inc		778
	42,211		Selective Insurance Group, Inc		1,990
	11,039		State Auto Financial Corp		303
	21,827		State National Cos, Inc		314
	16,901		Stewart Information Services Corp		747
	44,037	*	Third Point Reinsurance Ltd		533
	89,962		Torchmark Corp		6,931
	213,843		Travelers Cos, Inc		25,777
	14,056	*,e	Trupanion, Inc		200
	16,104		United Fire & Casualty Co		689
	12,682		United Insurance Holdings Corp		202
	16,346		Universal Insurance Holdings, Inc		400
	176,533		UnumProvident Corp		8,278
	55,625		Validus Holdings Ltd		3,137
	71,089		W.R. Berkley Corp		5,021
	3,474		White Mountains Insurance Group Ltd		3,057
	181,086		XL Group Ltd		7,218
			TOTAL INSURANCE		757,598
MATERIALS - 3.4%
	22,177		A. Schulman, Inc		697
	22,501	*	AdvanSix, Inc		615
	16,379	*	AgroFresh Solutions, Inc		72
	144,394		Air Products & Chemicals, Inc		19,535
	228,124	*	AK Steel Holding Corp		1,640
	83,129		Albemarle Corp		8,782

278

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	107,514		Alcoa Corp	$	3,698
	81,466	e	Allegheny Technologies, Inc		1,463
	20,501		American Vanguard Corp		340
	4,440		Ampco-Pittsburgh Corp		62
	46,295		Aptargroup, Inc		3,564
	46,088		Ashland Global Holdings, Inc		5,706
	63,609		Avery Dennison Corp		5,127
	121,805	*	Axalta Coating Systems Ltd		3,922
	23,190		Balchem Corp		1,911
	125,748		Ball Corp		9,338
	69,866		Bemis Co, Inc		3,414
	94,210	*	Berry Plastics Group, Inc		4,576
	29,817	*	Boise Cascade Co		796
	43,691		Cabot Corp		2,618
	39,299		Calgon Carbon Corp		574
	34,250		Carpenter Technology Corp		1,278
	108,347		Celanese Corp (Series A)		9,735
	36,798	*	Century Aluminum Co		467
	169,311		CF Industries Holdings, Inc		4,969
	5,158		Chase Corp		492
	133,935		Chemours Co		5,157
	47,225	*	Chemtura		1,577
	12,556	*	Clearwater Paper Corp		703
	161,710	*	Cliffs Natural Resources, Inc		1,328
	23,538	*	Codexis, Inc		113
	131,927	*,e	Coeur Mining, Inc		1,066
	85,866		Commercial Metals Co		1,643
	24,865	e	Compass Minerals International, Inc		1,687
	98,051	*	Crown Holdings, Inc		5,192
	8,022		Deltic Timber Corp		627
	47,043		Domtar Corp		1,718
	827,180		Dow Chemical Co		52,559
	34,706		Eagle Materials, Inc		3,371
	109,907		Eastman Chemical Co		8,880
	192,399		Ecolab, Inc		24,115
	647,177		EI du Pont de Nemours & Co		51,988
	55,318	*	Ferro Corp		840
	47,286		Ferroglobe plc		488
	40,724	*,e	Flotek Industries, Inc		521
	97,276		FMC Corp		6,769
	10,806	*	Forterra, Inc		211
	984,047	*	Freeport-McMoRan Copper & Gold, Inc (Class B)		13,147
	17,819		FutureFuel Corp		253
	52,340	*	GCP Applied Technologies, Inc		1,709
	39,231	*,e	Gold Resource Corp		177
	236,879		Graphic Packaging Holding Co		3,049
	20,286		Greif, Inc (Class A)		1,118
	37,440		H.B. Fuller Co		1,930
	1,617	*	Handy & Harman Ltd		44
	7,923		Hawkins, Inc		388
	9,402		Haynes International, Inc		358
	54,162	*	Headwaters, Inc		1,272

279

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	266,380		Hecla Mining Co	$	1,409
	146,965		Huntsman Corp		3,607
	30,403	*	Ingevity Corp		1,850
	15,371		Innophos Holdings, Inc		830
	18,027		Innospec, Inc		1,167
	59,224		International Flavors & Fragrances, Inc		7,849
	292,536		International Paper Co		14,855
	13,103		Kaiser Aluminum Corp		1,047
	62,146		Kapstone Paper and Packaging Corp		1,436
	7,156		KMG Chemicals, Inc		330
	15,231	*	Koppers Holdings, Inc		645
	21,628	*	Kraton Polymers LLC		669
	14,288		Kronos Worldwide, Inc		235
	104,108	*	Louisiana-Pacific Corp		2,584
	15,120	*,e	LSB Industries, Inc		142
	242,878		LyondellBasell Industries AF S.C.A		22,148
	47,207		Martin Marietta Materials, Inc		10,303
	14,781		Materion Corp		496
	25,740		Minerals Technologies, Inc		1,972
	322,555		Monsanto Co		36,513
	257,110		Mosaic Co		7,502
	15,401	*	Multi Packaging Solutions International Ltd		276
	18,118		Myers Industries, Inc		287
	12,153		Neenah Paper, Inc		908
	5,243		NewMarket Corp		2,376
	394,716		Newmont Mining Corp		13,010
	230,525		Nucor Corp		13,767
	121,769		Olin Corp		4,003
	6,559		Olympic Steel, Inc		122
	32,453	*	Omnova Solutions, Inc		321
	119,497	*	Owens-Illinois, Inc		2,435
	69,449		Packaging Corp of America		6,363
	32,454		PH Glatfelter Co		706
	143,921	*	Platform Specialty Products Corp		1,874
	61,942		PolyOne Corp		2,112
	197,219		PPG Industries, Inc		20,724
	211,086		Praxair, Inc		25,035
	9,804		Quaker Chemical Corp		1,291
	31,957	e	Rayonier Advanced Materials, Inc		430
	18,294	*	Real Industry, Inc		52
	51,675		Reliance Steel & Aluminum Co		4,135
	48,353		Royal Gold, Inc		3,387
	96,743		RPM International, Inc		5,324
	8,418	*	Ryerson Holding Corp		106
	19,399		Schnitzer Steel Industries, Inc (Class A)		401
	22,501		Schweitzer-Mauduit International, Inc		932
	33,262		Scotts Miracle-Gro Co (Class A)		3,106
	145,870		Sealed Air Corp		6,357
	31,510		Sensient Technologies Corp		2,497
	59,434		Sherwin-Williams Co		18,436
	30,199		Silgan Holdings, Inc		1,793
	73,849		Sonoco Products Co		3,908
	58,429		Southern Copper Corp (NY)		2,097

280

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	174,027		Steel Dynamics, Inc	$	6,049
	13,671		Stepan Co		1,077
	90,832	*	Stillwater Mining Co		1,569
	67,439	*	Summit Materials, Inc		1,666
	48,451	*	SunCoke Energy, Inc		434
	225,143		Tahoe Resources, Inc		1,808
	29,755	*	TimkenSteel Corp		563
	15,246	*	Trecora Resources		169
	19,671		Tredegar Corp		345
	19,262		Trinseo S.A.		1,292
	47,159		Tronox Ltd		870
	2,124	*	UFP Technologies, Inc		55
	1,357		United States Lime & Minerals, Inc		107
	113,508		United States Steel Corp		3,838
	10,188	*,e	US Concrete, Inc		658
	57,413		Valspar Corp		6,369
	25,496	e	Valvoline, Inc		626
	98,368		Vulcan Materials Co		11,851
	28,083		Westlake Chemical Corp		1,855
	185,895		WestRock Co		9,672
	33,320		Worthington Industries, Inc		1,502
	52,361		WR Grace & Co		3,650
			TOTAL MATERIALS		611,574
MEDIA - 3.1%
	22,295		AMC Entertainment Holdings, Inc		701
	44,802	*	AMC Networks, Inc		2,629
	3,583		Cable One, Inc		2,237
	265,828		CBS Corp (Class B)		18,438
	57,360	*,e	Central European Media Enterprises Ltd (Class A) (NASDAQ)		178
	146,877	*	Charter Communications, Inc		48,076
	78,739		Cinemark Holdings, Inc		3,491
	28,047		Clear Channel Outdoor Holdings, Inc (Class A)		170
	3,551,107		Comcast Corp (Class A)		133,486
	772	*,e	Daily Journal Corp		165
	111,235	*	Discovery Communications, Inc (Class A)		3,236
	162,226	*	Discovery Communications, Inc (Class C)		4,593
	160,944	*	DISH Network Corp (Class A)		10,218
	18,269	e	Entercom Communications Corp (Class A)		261
	50,932		Entravision Communications Corp (Class A)		316
	20,620	*,e	Eros International plc		212
	44,238	*	EW Scripps Co (Class A)		1,037
	86,657		Gannett Co, Inc		726
	34,321	*	Global Eagle Entertainment, Inc		110
	46,930	*	Gray Television, Inc		681
	6,780	*	Hemisphere Media Group, Inc		80
	43,669	*	Imax Corp		1,485
	297,277		Interpublic Group of Cos, Inc		7,304
	33,017		John Wiley & Sons, Inc (Class A)		1,776
	7,655	*	Liberty Braves Group (Class A)		183
	25,374	*	Liberty Braves Group (Class C)		600
	18,006	*	Liberty Broadband Corp (Class A)		1,532

281

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	75,264	*	Liberty Broadband Corp (Class C)	$	6,503
	19,139	*,e	Liberty Media Group (Class A)		626
	33,752	*,e	Liberty Media Group (Class C)		1,153
	67,298	*	Liberty SiriusXM Group (Class A)		2,619
	135,948	*	Liberty SiriusXM Group (Class C)		5,272
	35,031	*,e	Lions Gate Entertainment Corp (Class A)		930
	78,192	*	Lions Gate Entertainment Corp (Class B)		1,906
	96,974	*	Live Nation, Inc		2,945
	9,932	*	Loral Space & Communications, Inc		391
	14,330	*	Madison Square Garden Co		2,862
	37,799		MDC Partners, Inc		355
	26,535		Meredith Corp		1,714
	40,739	*	MSG Networks, Inc		951
	46,358		National CineMedia, Inc		586
	29,023		New Media Investment Group, Inc		412
	83,356		New York Times Co (Class A)		1,200
	283,916		News Corp		3,691
	86,319		News Corp (Class B)		1,165
	33,357		Nexstar Broadcasting Group, Inc (Class A)		2,340
	173,829		Omnicom Group, Inc		14,986
	15,910	*,e	Radio One, Inc		53
	12,373	*	Reading International, Inc		192
	60,087	e	Regal Entertainment Group (Class A)		1,357
	3,654		Saga Communications, Inc		187
	19,984		Scholastic Corp		851
	61,043		Scripps Networks Interactive (Class A)		4,784
	49,336		Sinclair Broadcast Group, Inc (Class A)		1,998
	1,321,277	e	Sirius XM Holdings, Inc		6,805
	161,282		TEGNA, Inc		4,132
	579,483		Time Warner, Inc		56,621
	81,058		Time, Inc		1,568
	5,104	*	Townsquare Media, Inc		62
	57,786		Tribune Co		2,154
	19,202	*,e	tronc, Inc		267
	808,385		Twenty-First Century Fox, Inc		26,184
	357,708		Twenty-First Century Fox, Inc (Class B)		11,368
	7,706		Viacom, Inc		376
	254,275		Viacom, Inc (Class B)		11,854
	1,199,125		Walt Disney Co		135,969
	27,047		World Wrestling Entertainment, Inc (Class A)		601
			TOTAL MEDIA		563,911
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.1%
	1,190,066		AbbVie, Inc		77,545
	70,913	*,e	Acadia Pharmaceuticals, Inc		2,438
	16,937	*,e	Accelerate Diagnostics, Inc		410
	20,273	*	Acceleron Pharma, Inc		537
	28,364	*,e	AcelRx Pharmaceuticals, Inc		89
	86,253	*	Achillion Pharmaceuticals, Inc		363
	6,392	*	Aclaris Therapeutics, Inc		191
	31,389	*	Acorda Therapeutics, Inc		659
	12,735	*,e	Adamas Pharmaceuticals, Inc		223
	26,641	*	Aduro Biotech, Inc		286

282

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	26,299	*,e	Advaxis, Inc	$	215
	14,848	*	Adverum Biotechnologies, Inc		40
	20,806	*	Aerie Pharmaceuticals, Inc		944
	18,157	*	Aevi Genomic Medicine, Inc		34
	56,789	*,e	Agenus, Inc		214
	7,692	*	Agile Therapeutics, Inc		25
	241,663		Agilent Technologies, Inc		12,777
	22,963	*,e	Agios Pharmaceuticals, Inc		1,341
	19,631	*,e	Aimmune Therapeutics, Inc		427
	26,366	*	Akebia Therapeutics, Inc		243
	62,292	*	Akorn, Inc		1,500
	17,375	*,e	Albany Molecular Research, Inc		244
	34,164	*,e	Alder Biopharmaceuticals, Inc		711
	161,444	*	Alexion Pharmaceuticals, Inc		19,573
	109,475	*	Alkermes plc		6,404
	246,667		Allergan plc		58,934
	54,942	*	Alnylam Pharmaceuticals, Inc		2,816
	25,493	*	AMAG Pharmaceuticals, Inc		575
	554,254		Amgen, Inc		90,937
	106,521	*	Amicus Therapeutics, Inc		759
	25,774	*	Amphastar Pharmaceuticals, Inc		374
	34,224	*,e	Ampio Pharmaceuticals, Inc		27
	23,093	*,e	Anavex Life Sciences Corp		133
	5,767	*,e	ANI Pharmaceuticals, Inc		286
	26,005	*,e	Anthera Pharmaceuticals, Inc		11
	9,076	*	Applied Genetic Technologies Corp		63
	12,007	*	Aptevo Therapeutics, Inc		25
	619	*,e	AquaBounty Technologies, Inc		7
	22,162	*,e	Aratana Therapeutics, Inc		117
	22,973	*	Ardelyx, Inc		291
	179,094	*	Arena Pharmaceuticals, Inc		261
	126,892	*	Array Biopharma, Inc		1,134
	39,456	*,e	Arrowhead Research Corp		73
	17,138	*,e	Asterias Biotherapeutics, Inc		58
	17,368	*	Atara Biotherapeutics, Inc		357
	52,762	*,e	Athersys, Inc		90
	3,387	*,e	Avexis, Inc		257
	18,230	*,e	Axovant Sciences Ltd		272
	7,312	*	Axsome Therapeutics, Inc		28
	15,642	*,e	Bellicum Pharmaceuticals, Inc		193
	53,741	*	BioCryst Pharmaceuticals, Inc		451
	161,844	*	Biogen Idec, Inc		44,251
	126,546	*	BioMarin Pharmaceutical, Inc		11,108
	59,746	*,e	Bio-Path Holdings, Inc		49
	15,517	*	Bio-Rad Laboratories, Inc (Class A)		3,093
	3,856	*	Biospecifics Technologies Corp		211
	28,168		Bio-Techne Corp		2,863
	37,736	*	BioTime, Inc		130
	80,988	*	Bioverativ, Inc		4,411
	30,604	*	Bluebird Bio, Inc		2,782
	14,832	*	Blueprint Medicines Corp		593
	1,227,498		Bristol-Myers Squibb Co		66,751

283

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	77,306		Bruker BioSciences Corp	$	1,804
	23,380	*	Cambrex Corp		1,287
	19,366	*,e	Cara Therapeutics Inc		356
	74,481	*	Catalent, Inc		2,109
	569,013	*	Celgene Corp		70,802
	73,063	*,e	Celldex Therapeutics, Inc		264
	7,210	*	Cellular Biomedicine Group, Inc		85
	30,752	*,e	Cempra, Inc		115
	35,378	*	Charles River Laboratories International, Inc		3,182
	18,304	*	ChemoCentryx, Inc		133
	30,594	*	Chimerix, Inc		195
	21,144	*	ChromaDex Corp		57
	8,028	*	Cidara Therapeutics, Inc		63
	23,470	*	Clovis Oncology, Inc		1,494
	21,791	*	Coherus Biosciences, Inc		461
	9,867	*,e	Collegium Pharmaceutical, Inc		99
	11,239	*	Concert Pharmaceuticals Inc		192
	54,169	*	Corcept Therapeutics, Inc		594
	84,568	*	Curis, Inc		235
	25,879	*	Cytokinetics, Inc		333
	15,216	*	CytomX Therapeutics, Inc		263
	41,833	*,e	CytRx Corp		19
	44,278	*	Depomed, Inc		556
	18,177	*	Dermira, Inc		620
	8,535	*	Dimension Therapeutics, Inc		15
	84,059	*	Durect Corp		88
	28,496	*,e	Dynavax Technologies Corp		170
	6,368	*,e	Eagle Pharmaceuticals, Inc		528
	12,202	*	Edge Therapeutics, Inc		111
	5,311	*,e	Editas Medicine, Inc		119
	17,506	*,e	Egalet Corp		89
	2,424	*	Eiger BioPharmaceuticals, Inc		28
	722,256		Eli Lilly & Co		60,749
	24,015	*	Emergent Biosolutions, Inc		697
	11,786	*	Enanta Pharmaceuticals, Inc		363
	152,236	*	Endo International plc		1,699
	33,769	*	Endocyte, Inc		87
	27,058	*	Enzo Biochem, Inc		226
	29,818	*,e	Epizyme, Inc		511
	9,694	*	Esperion Thereapeutics, Inc		342
	77,791	*,e	Exact Sciences Corp		1,837
	166,602	*	Exelixis, Inc		3,610
	38,418	*	FibroGen, Inc		947
	19,800	*	Five Prime Therapeutics, Inc		716
	7,262	*	Flex Pharma, Inc		32
	19,463	*,e	Flexion Therapeutics Inc		524
	20,851	*	Fluidigm Corp		119
	24,951	*,e	Fortress Biotech, Inc		92
	8,878	*,e	Foundation Medicine, Inc		286
	6,476	*,e	Galena Biopharma, Inc		4
	12,920	*	Genomic Health, Inc		407
	114,325	*,e	Geron Corp		260
	974,960		Gilead Sciences, Inc		66,219

284

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	12,106	*	Global Blood Therapeutics, Inc	$	446
	7,728	*	GlycoMimetics Inc		42
	79,065	*,e	Halozyme Therapeutics, Inc		1,025
	23,400	*,e	Heron Therapeutics, Inc		351
	4,132	*	Heska Corp		434
	118,653	*	Horizon Pharma plc		1,754
	62,986	*,e	Idera Pharmaceuticals, Inc		156
	22,215	*	Ignyta, Inc		191
	108,454	*	Illumina, Inc		18,507
	8,484	*,e	Immune Design Corp		58
	65,469	*,e	Immunogen, Inc		253
	69,521	*,e	Immunomedics, Inc		450
	53,162	*	Impax Laboratories, Inc		672
	30,663	*	INC Research Holdings, Inc		1,406
	120,847	*	Incyte Corp		16,154
	36,466	*	Infinity Pharmaceuticals, Inc		118
	63,139	e	Innoviva, Inc		873
	13,739	*,e	Inotek Pharmaceuticals Corp		27
	49,160	*,e	Inovio Pharmaceuticals, Inc		325
	45,452	*	Insmed, Inc		796
	17,481	*,e	Insys Therapeutics, Inc		184
	4,943	*,e	Intellia Therapeutics, Inc		70
	12,146	*,e	Intercept Pharmaceuticals, Inc		1,374
	18,642	*	Intersect ENT, Inc		320
	25,348	*,e	Intra-Cellular Therapies, Inc		412
	41,392	*,e	Intrexon Corp		820
	15,922	*	Invitae Corp		176
	89,084	*,e	Ionis Pharmaceuticals, Inc		3,581
	95,014	*,e	Ironwood Pharmaceuticals, Inc		1,621
	2,026,961		Johnson & Johnson		252,458
	46,335	*,e	Juno Therapeutics, Inc		1,028
	17,078	*	Karyopharm Therapeutics, Inc		219
	59,203	*,e	Keryx Biopharmaceuticals, Inc		365
	28,782	*,e	Kite Pharma, Inc		2,259
	8,512	*,e	La Jolla Pharmaceutical Co		254
	19,506	*,e	Lannett Co, Inc		436
	30,110	*,e	Lexicon Pharmaceuticals, Inc		432
	13,029	*	Ligand Pharmaceuticals, Inc (Class B)		1,379
	34,093	*	Lion Biotechnologies, Inc		254
	11,696	*,e	Lipocine, Inc		46
	9,258	*	Loxo Oncology, Inc		390
	31,134		Luminex Corp		572
	23,459	*	MacroGenics, Inc		436
	81,217	*	Mallinckrodt plc		3,620
	46,650	*,e	MannKind Corp		69
	49,764	*,e	Medicines Co		2,433
	22,034	*,e	MediciNova, Inc		132
	5,025	*	Medpace Holdings, Inc		150
	2,047,734		Merck & Co, Inc		130,113
	90,592	*,e	Merrimack Pharmaceuticals, Inc		279
	19,507	*	Mettler-Toledo International, Inc		9,342
	79,969	*,e	MiMedx Group, Inc		762

285

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	12,264	*	Minerva Neurosciences, Inc	$	99
	7,201	*	Mirati Therapeutics, Inc		37
	44,870	*	Momenta Pharmaceuticals, Inc		599
	339,469	*	Mylan NV		13,236
	8,608	*	MyoKardia, Inc		113
	51,524	*,e	Myriad Genetics, Inc		989
	10,862	*	NanoString Technologies, Inc		216
	12,660	*,e	NantKwest, Inc		45
	19,889	*	Natera, Inc		176
	96,260	*	Nektar Therapeutics		2,259
	38,546	*	NeoGenomics, Inc		304
	10,102	*,e	Neos Therapeutics, Inc		73
	63,342	*	Neurocrine Biosciences, Inc		2,743
	14,869	*	NewLink Genetics Corp		358
	197,987	*,e	Novavax, Inc		253
	13,115	*,e	Ocular Therapeutix, Inc		122
	29,642	*,e	Omeros Corp		448
	12,341	*	OncoMed Pharmaceuticals, Inc		114
	22,405	*	Ophthotech Corp		82
	238,337	*,e	Opko Health, Inc		1,907
	60,008	*,e	Organovo Holdings, Inc		191
	18,209	*	Otonomy, Inc		223
	31,664	*,e	OvaScience, Inc		59
	55,440	*	Pacific Biosciences of California, Inc		287
	27,071	*	Pacira Pharmaceuticals, Inc		1,234
	9,271	*	Paratek Pharmaceuticals, Inc		178
	36,119	*	Parexel International Corp		2,279
	25,000	*	Patheon NV		658
	120,653		PDL BioPharma, Inc		274
	80,589	*	PerkinElmer, Inc		4,679
	102,293		Perrigo Co plc		6,791
	12,158	*	Pfenex, Inc		71
	4,418,311		Pfizer, Inc		151,150
	43,415		PharmAthene, Inc		35
	12,927		Phibro Animal Health Corp		363
	36,240	*	Portola Pharmaceuticals, Inc		1,420
	17,808	*	PRA Health Sciences, Inc		1,162
	38,233	*	Prestige Brands Holdings, Inc		2,124
	51,583	*	Progenics Pharmaceuticals, Inc		487
	4,860	*	Protagonist Therapeutics, Inc		62
	5,062	*	Proteostasis Therapeutics, Inc		40
	25,750	*,e	Prothena Corp plc		1,437
	25,096	*	PTC Therapeutics, Inc		247
	20,506	*	Puma Biotechnology, Inc		763
	162,074	*	QIAGEN NV		4,695
	104,304	*	Quintiles Transnational Holdings, Inc		8,400
	23,135	*	Radius Health, Inc		894
	4,072	*,e	Reata Pharmaceuticals, Inc		92
	57,123	*	Regeneron Pharmaceuticals, Inc		22,136
	15,571	*	REGENXBIO, Inc		301
	29,873	*,e	Regulus Therapeutics, Inc		49
	23,464	*	Repligen Corp		826
	25,726	*	Retrophin, Inc		475

286

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	15,494	*	Revance Therapeutics, Inc	$	322
	66,996	*	Rigel Pharmaceuticals, Inc		222
	22,182	*	Sage Therapeutics, Inc		1,576
	52,234	*	Sangamo Biosciences, Inc		272
	36,209	*,e	Sarepta Therapeutics, Inc		1,072
	38,141	*	Sciclone Pharmaceuticals, Inc		374
	71,265	*	Seattle Genetics, Inc		4,480
	13,345	*,e	Seres Therapeutics, Inc		150
	20,814	*,e	Sorrento Therapeutics, Inc		82
	14,246	*	Spark Therapeutics, Inc		760
	47,540	*	Spectrum Pharmaceuticals, Inc		309
	12,168	*,e	Stemline Therapeutics, Inc		104
	18,349	*,e	Sucampo Pharmaceuticals, Inc (Class A)		202
	34,621	*	Supernus Pharmaceuticals, Inc		1,084
	2,800	*	Syndax Pharmaceuticals, Inc		38
	131,372	*,e	Synergy Pharmaceuticals, Inc		612
	54,879	*,e	Synthetic Biologics, Inc		35
	7,419	*,e	T2 Biosystems, Inc		39
	29,885	*,e	Teligent, Inc		233
	20,993	*	TESARO, Inc		3,230
	26,726	*	Tetraphase Pharmaceuticals, Inc		246
	26,551	*,e	TG Therapeutics, Inc		309
	98,667	*,e	TherapeuticsMD, Inc		710
	29,259	*	Theravance Biopharma, Inc		1,077
	289,810		Thermo Fisher Scientific, Inc		44,515
	13,797	*,e	Titan Pharmaceuticals, Inc		46
	6,981	*,m	Tobira Therapeutics, Inc		96
	7,534	*,e	Tokai Pharmaceuticals, Inc		6
	32,080	*,e	Trevena, Inc		118
	17,931	*,e	Trovagene, Inc		21
	26,573	*	Ultragenyx Pharmaceutical, Inc		1,801
	32,934	*	United Therapeutics Corp		4,459
	26,593	*	Vanda Pharmaceuticals, Inc		372
	10,409	*	Veracyte, Inc		96
	20,135	*	Versartis, Inc		430
	181,159	*	Vertex Pharmaceuticals, Inc		19,810
	16,565	*,e	Vital Therapies, Inc		66
	8,673	*	Voyager Therapeutics, Inc		115
	57,722	*	VWR Corp		1,628
	56,360	*	Waters Corp		8,810
	5,620	*,e	WaVe Life Sciences Pte Ltd		155
	8,356	*	XBiotech, Inc		138
	23,768	*	Xencor Inc		569
	12,439	*	Zafgen, Inc		58
	90,754	*,e	ZIOPHARM Oncology, Inc		575
	331,318		Zoetis, Inc		17,682
	14,763	*	Zogenix, Inc		160
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1,465,940
REAL ESTATE - 4.0%
	52,319		Acadia Realty Trust		1,573
	16,903		Agree Realty Corp		811

287

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	34,159		Alexander & Baldwin, Inc	$	1,521
	1,574		Alexander’s, Inc		680
	64,858		Alexandria Real Estate Equities, Inc		7,168
	8,343	*,e	Altisource Portfolio Solutions S.A.		307
	28,646		American Assets Trust,Inc		1,199
	96,842		American Campus Communities, Inc		4,609
	130,151		American Homes 4 Rent		2,988
	312,373		American Tower Corp		37,966
	115,722		Apartment Investment & Management Co (Class A)		5,132
	107,624		Apple Hospitality REIT, Inc		2,056
	22,700		Armada Hoffler Properties, Inc		315
	20,771		Ashford Hospitality Prime, Inc		220
	61,750		Ashford Hospitality Trust, Inc		393
	7,072	*,e	AV Homes, Inc		116
	101,923		AvalonBay Communities, Inc		18,713
	13,459		Bluerock Residential Growth REIT, Inc		166
	113,039		Boston Properties, Inc		14,967
	127,370		Brandywine Realty Trust		2,067
	141,963		Brixmor Property Group, Inc		3,047
	64,335		Camden Property Trust		5,176
	61,176		Care Capital Properties, Inc		1,644
	42,178		CareTrust REIT, Inc		709
	29,192		CatchMark Timber Trust Inc		336
	124,137		CBL & Associates Properties, Inc		1,184
	219,391	*	CBRE Group, Inc		7,633
	62,949		Cedar Realty Trust, Inc		316
	28,285		Chatham Lodging Trust		559
	44,088		Chesapeake Lodging Trust		1,056
	13,323		City Office REIT, Inc		162
	407,652		Colony NorthStar, Inc		5,263
	47,997		Colony Starwood Homes		1,629
	92,725		Columbia Property Trust, Inc		2,063
	9,586		Community Healthcare Trust, Inc		229
	3,235		Consolidated-Tomoka Land Co		173
	86,682		CoreCivic, Inc		2,724
	9,299	e	CorEnergy Infrastructure Trust, Inc		314
	24,799		Coresite Realty		2,233
	69,853		Corporate Office Properties Trust		2,312
	205,587		Cousins Properties, Inc		1,700
	266,366		Crown Castle International Corp		25,158
	131,589		CubeSmart		3,416
	54,639		CyrusOne, Inc		2,812
	65,501		DCT Industrial Trust, Inc		3,152
	227,125		DDR Corp		2,846
	148,119		DiamondRock Hospitality Co		1,652
	112,814		Digital Realty Trust, Inc		12,002
	104,001		Douglas Emmett, Inc		3,994
	256,864		Duke Realty Corp		6,748
	55,010		DuPont Fabros Technology, Inc		2,728
	17,274		Easterly Government Properties, Inc		342
	23,492		EastGroup Properties, Inc		1,727
	48,917		Education Realty Trust, Inc		1,998
	89,883		Empire State Realty Trust, Inc		1,855

288

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	46,901		Entertainment Properties Trust	$	3,453
	55,451		Equinix, Inc		22,201
	90,071	*	Equity Commonwealth		2,812
	58,881		Equity Lifestyle Properties, Inc		4,537
	263,335		Equity Residential		16,385
	48,297		Essex Property Trust, Inc		11,182
	89,496		Extra Space Storage, Inc		6,658
	8,777		Farmland Partners, Inc		98
	52,442		Federal Realty Investment Trust		7,001
	100,810		FelCor Lodging Trust, Inc		757
	82,257		First Industrial Realty Trust, Inc		2,190
	42,783		First Potomac Realty Trust		440
	169,880		Forest City Realty Trust, Inc		3,700
	25,631	*	Forestar Group, Inc		350
	44,705		Four Corners Property Trust, Inc		1,021
	72,511		Franklin Street Properties Corp		880
	4,942	*	FRP Holdings, Inc		198
	134,416		Gaming and Leisure Properties, Inc		4,492
	54,016		Geo Group, Inc		2,505
	18,198		Getty Realty Corp		460
	427,695		GGP, Inc		9,914
	15,436		Gladstone Commercial Corp		319
	41,745	*,e	Global Net Lease, Inc		1,005
	51,670	e	Government Properties Income Trust		1,081
	103,258		Gramercy Property Trust		2,716
	347,379		HCP, Inc		10,866
	76,928		Healthcare Realty Trust, Inc		2,500
	100,396		Healthcare Trust of America, Inc		3,158
	31,185		Hersha Hospitality Trust		586
	27,225		HFF, Inc (Class A)		753
	71,216		Highwoods Properties, Inc		3,499
	118,720		Hospitality Properties Trust		3,743
	536,882		Host Marriott Corp		10,018
	26,825	*	Howard Hughes Corp		3,145
	84,555		Hudson Pacific Properties		2,929
	29,912		Independence Realty Trust, Inc		280
	90,609		Investors Real Estate Trust		537
	64,629	*	Invitation Homes, Inc		1,411
	192,234		Iron Mountain, Inc		6,857
	53,599	*	iStar Financial, Inc		632
	33,300		Jones Lang LaSalle, Inc		3,711
	61,074		Kennedy-Wilson Holdings, Inc		1,356
	67,058		Kilroy Realty Corp		4,834
	297,898		Kimco Realty Corp		6,581
	60,886		Kite Realty Group Trust		1,309
	60,834		Lamar Advertising Co		4,547
	78,833		LaSalle Hotel Properties		2,282
	162,758		Lexington Realty Trust		1,624
	109,119		Liberty Property Trust		4,207
	33,914		Life Storage, Inc		2,785
	27,155		LTC Properties, Inc		1,301
	107,468		Macerich Co		6,921

289

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	67,066		Mack-Cali Realty Corp	$	1,807
	9,904	*	Marcus & Millichap, Inc		243
	205,740	e	Medical Properties Trust, Inc		2,652
	84,302		Mid-America Apartment Communities, Inc		8,577
	46,125		Monmouth Real Estate Investment Corp (Class A)		658
	121,396		Monogram Residential Trust, Inc		1,210
	27,658		National Health Investors, Inc		2,009
	109,441		National Retail Properties, Inc		4,774
	25,850		National Storage Affiliates Trust		618
	55,714		New Senior Investment Group, Inc		568
	14,395		NexPoint Residential Trust, Inc		348
	42,262		NorthStar Realty Europe Corp		490
	136,847		Omega Healthcare Investors, Inc		4,515
	9,027		One Liberty Properties, Inc		211
	101,625		Outfront Media, Inc		2,698
	133,994		Paramount Group, Inc		2,172
	83,547		Park Hotels & Resorts, Inc		2,145
	31,089		Parkway, Inc		618
	53,141	e	Pebblebrook Hotel Trust		1,552
	52,388		Pennsylvania REIT		793
	99,449		Physicians Realty Trust		1,976
	107,121		Piedmont Office Realty Trust, Inc		2,290
	30,172		Potlatch Corp		1,379
	16,337		Preferred Apartment Communities, Inc		216
	388,040		Prologis, Inc		20,132
	14,667		PS Business Parks, Inc		1,683
	109,722		Public Storage, Inc		24,019
	34,553		QTS Realty Trust, Inc		1,684
	69,475	*	Quality Care Properties, Inc		1,310
	62,959		RAIT Investment Trust		201
	57,913		Ramco-Gershenson Properties		812
	92,432		Rayonier, Inc		2,620
	13,117		Re/Max Holdings, Inc		780
	108,646		Realogy Holdings Corp		3,237
	191,583		Realty Income Corp		11,405
	106,435		Regency Centers Corp		7,066
	73,323		Retail Opportunities Investment Corp		1,542
	173,060		Retail Properties of America, Inc		2,496
	48,113		Rexford Industrial Realty, Inc		1,084
	90,156		RLJ Lodging Trust		2,120
	5,123		RMR Group, Inc		254
	32,495		Ryman Hospitality Properties		2,009
	47,769		Sabra Healthcare REIT, Inc		1,334
	6,582		Saul Centers, Inc		406
	91,873	*	SBA Communications Corp		11,059
	45,730		Select Income REIT		1,179
	174,669		Senior Housing Properties Trust		3,537
	18,501	e	Seritage Growth Properties		798
	28,907		Silver Bay Realty Trust Corp		621
	228,236		Simon Property Group, Inc		39,263
	72,261		SL Green Realty Corp		7,704
	354,302		Spirit Realty Capital, Inc		3,589
	33,773	*	St. Joe Co		576

290

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	50,811	*	STAG Industrial, Inc	$	1,271
	112,095		STORE Capital Corp		2,677
	4,495		Stratus Properties, Inc		123
	65,192		Summit Hotel Properties, Inc		1,042
	49,498		Sun Communities, Inc		3,976
	147,821		Sunstone Hotel Investors, Inc		2,266
	70,998		Tanger Factory Outlet Centers, Inc		2,327
	43,997		Taubman Centers, Inc		2,905
	10,268	*	Tejon Ranch Co		225
	31,885		Terreno Realty Corp		893
	34,663		Tier REIT, Inc		602
	13,643	*	Trinity Place Holdings, Inc		100
	197,090		UDR, Inc		7,146
	15,857		UMH Properties, Inc		241
	90,140		Uniti Group, Inc		2,330
	9,264		Universal Health Realty Income Trust		598
	66,647		Urban Edge Properties		1,753
	20,808		Urstadt Biddle Properties, Inc (Class A)		428
	251,154		Ventas, Inc		16,335
	718,252		VEREIT, Inc		6,098
	128,760		Vornado Realty Trust		12,916
	139,812		Washington Prime Group, Inc		1,215
	50,804		Washington REIT		1,589
	86,814		Weingarten Realty Investors		2,899
	265,618		Welltower, Inc		18,811
	548,600		Weyerhaeuser Co		18,641
	19,472		Whitestone REIT		269
	76,656		WP Carey, Inc		4,770
	79,064		Xenia Hotels & Resorts, Inc		1,350
			TOTAL REAL ESTATE		727,421
RETAILING - 5.0%
	18,290	*	1-800-FLOWERS.COM, Inc (Class A)		187
	48,207		Aaron’s, Inc		1,434
	51,631	e	Abercrombie & Fitch Co (Class A)		616
	51,959		Advance Auto Parts, Inc		7,703
	287,031	*	Amazon.com, Inc		254,465
	122,461		American Eagle Outfitters, Inc		1,718
	6,968	*	America’s Car-Mart, Inc		254
	14,849	*	Asbury Automotive Group, Inc		892
	157,653	*,e	Ascena Retail Group, Inc		672
	13,652	*	At Home Group, Inc		207
	48,275	*	Autonation, Inc		2,042
	21,598	*	AutoZone, Inc		15,616
	29,015	*	Barnes & Noble Education, Inc		278
	36,768		Barnes & Noble, Inc		340
	107,825		Bed Bath & Beyond, Inc		4,255
	204,689		Best Buy Co, Inc		10,060
	14,390	e	Big 5 Sporting Goods Corp		217
	33,402	e	Big Lots, Inc		1,626
	9,762	*,e	Boot Barn Holdings, Inc		97
	21,122	e	Buckle, Inc		393

291

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	8,786	*	Build-A-Bear Workshop, Inc	$	78
	52,052	*	Burlington Stores, Inc		5,064
	37,763	*	Cabela’s, Inc		2,006
	28,267		Caleres, Inc		747
	8,124		Camping World Holdings, Inc		262
	143,597	*	Carmax, Inc		8,504
	19,356		Cato Corp (Class A)		425
	95,824		Chico’s FAS, Inc		1,361
	13,847		Children’s Place Retail Stores, Inc		1,662
	11,556		Citi Trends, Inc		196
	11,400	*,e	Container Store Group, Inc		48
	34,312		Core-Mark Holding Co, Inc		1,070
	53,366		CST Brands, Inc		2,566
	32,976	*	Destination XL Group, Inc		94
	64,932		Dick’s Sporting Goods, Inc		3,160
	13,964		Dillard’s, Inc (Class A)		729
	206,542		Dollar General Corp		14,402
	167,177	*	Dollar Tree, Inc		13,117
	49,292		DSW, Inc (Class A)		1,019
	7,236	*,e	Duluth Holdings, Inc		154
	76,812	*	Etsy, Inc		816
	86,717		Expedia, Inc		10,941
	55,323	*	Express Parent LLC		504
	33,805		Finish Line, Inc (Class A)		481
	40,021	*	Five Below, Inc		1,733
	99,154		Foot Locker, Inc		7,418
	25,440	*	Francesca’s Holdings Corp		390
	27,215	e	Fred’s, Inc (Class A)		357
	13,967	*	FTD Cos, Inc		281
	56,382		GameStop Corp (Class A)		1,271
	164,788		Gap, Inc		4,003
	15,061	*	Genesco, Inc		835
	108,483		Genuine Parts Co		10,025
	50,651	e	GNC Holdings, Inc		373
	15,433		Group 1 Automotive, Inc		1,143
	273,128	*	Groupon, Inc		1,073
	44,451		Guess?, Inc		496
	16,062		Haverty Furniture Cos, Inc		391
	16,994	*,e	Hibbett Sports, Inc		501
	919,888		Home Depot, Inc		135,067
	24,109		HSN, Inc		894
	228,517	*,e	JC Penney Co, Inc		1,408
	12,718		Kirkland’s, Inc		158
	137,008		Kohl’s Corp		5,454
	177,833		L Brands, Inc		8,376
	12,586	*	Lands’ End, Inc		270
	39,468	*	Liberty Expedia Holdings, Inc		1,795
	329,671	*	Liberty Interactive Corp		6,600
	53,282	*	Liberty TripAdvisor Holdings, Inc		751
	59,202	*	Liberty Ventures		2,633
	16,930		Lithia Motors, Inc (Class A)		1,450
	222,202	*	LKQ Corp		6,504
	662,639		Lowe’s Companies, Inc		54,476

292

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	19,294	*,e	Lumber Liquidators, Inc	$	405
	229,133		Macy’s, Inc		6,791
	18,578	*	MarineMax, Inc		402
	69,469	*	Michaels Cos, Inc		1,555
	23,604	e	Monro Muffler, Inc		1,230
	26,054	*	Murphy USA, Inc		1,913
	301,542	*	NetFlix, Inc		44,571
	91,431	e	Nordstrom, Inc		4,258
	20,499		Nutri/System, Inc		1,138
	405,707		Office Depot, Inc		1,893
	12,772	*	Ollie’s Bargain Outlet Holdings, Inc		428
	69,719	*	O’Reilly Automotive, Inc		18,813
	8,893	*	Overstock.com, Inc		153
	17,507	*,e	Party City Holdco, Inc		246
	28,675		Penske Auto Group, Inc		1,342
	5,700	e	PetMed Express, Inc		115
	59,095		Pier 1 Imports, Inc		423
	36,478	*	Priceline.com, Inc		64,930
	38,310	e	Rent-A-Center, Inc		340
	28,484	*,e	Restoration Hardware Holdings, Inc		1,318
	291,057		Ross Stores, Inc		19,172
	107,246	*	Sally Beauty Holdings, Inc		2,192
	33,626	*	Select Comfort Corp		834
	10,447		Shoe Carnival, Inc		257
	25,881	*	Shutterfly, Inc		1,250
	51,090		Signet Jewelers Ltd		3,539
	20,728		Sonic Automotive, Inc (Class A)		416
	19,952	*,e	Sportsman’s Warehouse Holdings, Inc		95
	25,073	e	Stage Stores, Inc		65
	477,765		Staples, Inc		4,190
	21,273	e	Stein Mart, Inc		64
	36,113	e	Tailored Brands, Inc		540
	407,217		Target Corp		22,474
	81,351		Tiffany & Co		7,753
	24,339		Tile Shop Holdings, Inc		469
	6,790		Tilly’s, Inc		61
	486,715		TJX Companies, Inc		38,489
	96,551		Tractor Supply Co		6,659
	84,546	*	TripAdvisor, Inc		3,649
	32,864	*	Tuesday Morning Corp		123
	43,094	*	Ulta Salon Cosmetics & Fragrance, Inc		12,292
	64,021	*	Urban Outfitters, Inc		1,521
	17,699	*	Vitamin Shoppe, Inc		357
	23,281	*,e	Wayfair, Inc		943
	11,292	*	West Marine, Inc		108
	65,447	e	Williams-Sonoma, Inc		3,509
	1,945		Winmark Corp		220
	11,661	*	Zumiez, Inc		213
			TOTAL RETAILING		912,322
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.2%
	3,767	*,e	Acacia Communications, Inc		221

293

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	29,482	*	Advanced Energy Industries, Inc	$	2,021
	555,757	*	Advanced Micro Devices, Inc		8,086
	15,539	*	Alpha & Omega Semiconductor Ltd		267
	23,188	*,e	Ambarella, Inc		1,269
	73,241	*	Amkor Technology, Inc		849
	265,755		Analog Devices, Inc		21,779
	787,372		Applied Materials, Inc		30,629
	20,849	*	Axcelis Technologies, Inc		392
	277,540		Broadcom Ltd		60,770
	52,087		Brooks Automation, Inc		1,167
	17,924		Cabot Microelectronics Corp		1,373
	47,258	*	Cavium, Inc		3,386
	15,710	*	Ceva, Inc		558
	46,294	*	Cirrus Logic, Inc		2,810
	18,761		Cohu, Inc		346
	73,485	*	Cree, Inc		1,964
	229,885		Cypress Semiconductor Corp		3,163
	28,713	*	Diodes, Inc		690
	19,178	*	DSP Group, Inc		230
	105,554	*	Entegris, Inc		2,470
	28,026	*	Exar Corp		365
	54,056	*,e	First Solar, Inc		1,465
	47,336	*	Formfactor, Inc		561
	30,864	*	GigOptix, Inc		95
	5,612	*,e	Impinj, Inc		170
	29,376	*	Inphi Corp		1,434
	99,540	*	Integrated Device Technology, Inc		2,356
	3,489,918		Intel Corp		125,881
	16,725		IXYS Corp		243
	112,935		Kla-Tencor Corp		10,737
	50,517	*	Kopin Corp		207
	117,308		Lam Research Corp		15,058
	90,159	*	Lattice Semiconductor Corp		624
	23,787	*	MA-COM Technology Solutions		1,149
	302,002		Marvell Technology Group Ltd		4,609
	206,782		Maxim Integrated Products, Inc		9,297
	40,851	*	MaxLinear, Inc		1,146
	151,364		Microchip Technology, Inc		11,168
	761,258	*	Micron Technology, Inc		22,000
	80,866	*	Microsemi Corp		4,167
	39,433		MKS Instruments, Inc		2,711
	29,204		Monolithic Power Systems, Inc		2,690
	18,167	*	Nanometrics, Inc		553
	21,168	*,e	NeoPhotonics Corp Ltd		191
	3,184		NVE Corp		264
	377,014		NVIDIA Corp		41,068
	306,305	*	ON Semiconductor Corp		4,745
	20,605	*	PDF Solutions, Inc		466
	46,544	*	Photronics, Inc		498
	20,135		Power Integrations, Inc		1,324
	95,478	*	Qorvo, Inc		6,546
	1,085,398		Qualcomm, Inc		62,237
	84,186	*	Rambus, Inc		1,106

294

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	19,603	*	Rudolph Technologies, Inc	$	439
	49,258	*	Semtech Corp		1,665
	25,567	*	Sigma Designs, Inc		160
	30,261	*	Silicon Laboratories, Inc		2,226
	140,115		Skyworks Solutions, Inc		13,728
	42,585	*,e	SunPower Corp		260
	151,007		Teradyne, Inc		4,696
	744,742		Texas Instruments, Inc		59,996
	23,500	*	Ultra Clean Holdings		396
	21,651	*	Ultratech, Inc		641
	29,696	*	Veeco Instruments, Inc		886
	72,788	*	Versum Materials, Inc		2,227
	37,527	*	Xcerra Corp		334
	189,006		Xilinx, Inc		10,942
	37,115		Xperi Corp		1,260
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		581,427
SOFTWARE & SERVICES - 12.2%
	27,302	*	2U, Inc		1,083
	66,124	*	8x8, Inc		1,008
	32,215	*	A10 Networks, Inc		295
	460,852		Accenture plc		55,247
	86,241	*	ACI Worldwide, Inc		1,845
	412,636		Activision Blizzard, Inc		20,574
	32,107	*	Actua Corp		451
	57,158	*	Acxiom Corp		1,627
	355,228	*	Adobe Systems, Inc		46,226
	127,551	*	Akamai Technologies, Inc		7,615
	5,086	*,e	Alarm.com Holdings, Inc		156
	13,975	*	ALJ Regional Holdings, Inc		52
	40,290		Alliance Data Systems Corp		10,032
	216,114	*	Alphabet, Inc (Class A)		183,221
	218,664	*	Alphabet, Inc (Class C)		181,395
	11,882	*	Amber Road, Inc		92
	108,187		Amdocs Ltd		6,598
	15,720	*	American Software, Inc (Class A)		162
	32,146	*	Angie’s List, Inc		183
	64,274	*	Ansys, Inc		6,869
	7,274	*	Appfolio, Inc		198
	57,195	*	Aspen Technology, Inc		3,370
	18,526	*	Atlassian Corp plc		555
	6,972	*	Autobytel, Inc		87
	156,960	*	Autodesk, Inc		13,572
	338,066		Automatic Data Processing, Inc		34,615
	34,946	*	Bankrate, Inc		337
	16,098	*	Barracuda Networks, Inc		372
	59,668	*	Bazaarvoice, Inc		257
	9,345	*	Benefitfocus, Inc		261
	17,356	*,e	Black Knight Financial Services, Inc		665
	35,258		Blackbaud, Inc		2,703
	40,135	*	Blackhawk Network Holdings, Inc		1,630
	7,430	*,e	Blackline, Inc		221

295

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	30,473	*	Blucora, Inc	$	527
	84,561		Booz Allen Hamilton Holding Co		2,993
	29,562	*	Bottomline Technologies, Inc		699
	35,331	*	Box, Inc		576
	20,694	*	Brightcove, Inc		184
	83,779		Broadridge Financial Solutions, Inc		5,693
	21,331	*	BroadSoft, Inc		858
	216,421		CA, Inc		6,865
	17,838	*	CACI International, Inc (Class A)		2,092
	216,614	*	Cadence Design Systems, Inc		6,802
	40,638	*	Callidus Software, Inc		868
	13,412	*	Carbonite, Inc		272
	33,955	*	Cardtronics plc		1,587
	13,954	*	Care.com, Inc		175
	8,603		Cass Information Systems, Inc		569
	107,217		CDK Global, Inc		6,970
	15,814	*	ChannelAdvisor Corp		176
	18,524	*,e	Cimpress NV		1,597
	111,580	*	Citrix Systems, Inc		9,305
	446,446	*	Cognizant Technology Solutions Corp (Class A)		26,573
	19,734	*	CommerceHub, Inc		307
	9,867	*	CommerceHub, Inc (Series A)		153
	28,135	*	Commvault Systems, Inc		1,429
	102,849		Computer Sciences Corp		7,098
	150,003	*	Conduent, Inc		2,517
	67,630		Convergys Corp		1,430
	37,259	*	Cornerstone OnDemand, Inc		1,449
	23,490	*	CoStar Group, Inc		4,868
	24,883		CSG Systems International, Inc		941
	121,590		CSRA, Inc		3,561
	158,994	*	Dell Technologies, Inc-VMware Inc		10,188
	32,513	*	DHI Group, Inc		128
	5,437	*,e	Digimarc Corp		147
	23,440		DST Systems, Inc		2,871
	744,377	*	eBay, Inc		24,989
	18,276	e	Ebix, Inc		1,119
	211,877	*	Electronic Arts, Inc		18,967
	24,127	*	Ellie Mae, Inc		2,419
	43,380	*	Endurance International Group Holdings, Inc		341
	20,747	*	EnerNOC, Inc		125
	30,234	*	Envestnet, Inc		977
	35,527	*	EPAM Systems, Inc		2,683
	36,588	*	Euronet Worldwide, Inc		3,129
	48,388		EVERTEC, Inc		769
	9,749	*	EXA Corp		124
	24,918	*	ExlService Holdings, Inc		1,180
	1,655,292	*	Facebook, Inc		235,134
	22,237		Fair Isaac Corp		2,868
	241,246		Fidelity National Information Services, Inc		19,208
	112,549	*,e	FireEye, Inc		1,419
	67,170	*	First American Corp		2,735
	232,771	*	First Data Corp		3,608
	163,031	*	Fiserv, Inc		18,799

296

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	24,005	*	Five9, Inc	$	395
	67,800	*	FleetCor Technologies, Inc		10,267
	8,265		Forrester Research, Inc		329
	107,542	*	Fortinet, Inc		4,124
	58,172	*	Gartner, Inc		6,282
	104,657		Genpact Ltd		2,591
	23,742	*	Gigamon, Inc		844
	113,930		Global Payments, Inc		9,192
	5,647	*	Global Sources Ltd		47
	18,803	*,e	Globant S.A.		684
	88,947	*,e	Glu Mobile, Inc		202
	34,640	*	GoDaddy, Inc		1,313
	42,541	*,e	Gogo, Inc		468
	59,590	*	GrubHub, Inc		1,960
	18,192	*	GTT Communications, Inc		443
	13,242	*	Guidance Software, Inc		78
	51,316	*	Guidewire Software, Inc		2,891
	17,956		Hackett Group, Inc		350
	29,372	*	Hortonworks, Inc		288
	21,312	*	HubSpot, Inc		1,290
	52,417	*	IAC/InterActiveCorp		3,864
	21,130	*	Imperva, Inc		867
	24,668	*	Information Services Group, Inc		78
	7,972	*	Instructure, Inc		187
	649,964		International Business Machines Corp		113,185
	179,875		Intuit, Inc		20,864
	35,564		j2 Global, Inc		2,984
	57,374		Jack Henry & Associates, Inc		5,342
	40,906	*	Jive Software, Inc		176
	97,759		Leidos Holdings, Inc		4,999
	50,961	*	Limelight Networks, Inc		132
	19,090	*	Liquidity Services, Inc		153
	40,701	*	Liveperson, Inc		279
	37,856		LogMeIn, Inc		3,691
	51,281	*	Manhattan Associates, Inc		2,669
	18,418		Mantech International Corp (Class A)		638
	25,119		Marchex, Inc (Class B)		68
	710,125		MasterCard, Inc (Class A)		79,868
	24,371	*,e	Match Group, Inc		398
	46,952		MAXIMUS, Inc		2,920
	31,242	*	MeetMe, Inc		184
	5,582,232		Microsoft Corp		367,646
	6,844	*	MicroStrategy, Inc (Class A)		1,285
	10,993	*,e	MINDBODY, Inc		302
	22,456	*,e	Mitek Systems, Inc		149
	29,654	*	MobileIron, Inc		129
	14,483	*	Model N, Inc		151
	22,389	*	MoneyGram International, Inc		376
	29,292		Monotype Imaging Holdings, Inc		589
	3,876		NCI, Inc (Class A)		58
	18,746	*	NeuStar, Inc (Class A)		621
	16,291	*	New Relic, Inc		604

297

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	48,579		NIC, Inc	$	981
	165,822	*	Nuance Communications, Inc		2,870
	10,739	*	Numerex Corp		51
	8,974	*	Nutanix, Inc		168
	2,185,931		Oracle Corp		97,514
	163,222	*,e	Pandora Media, Inc		1,928
	7,197	*,e	Park City Group, Inc		89
	238,868		Paychex, Inc		14,069
	32,485	*,e	Paycom Software, Inc		1,868
	15,762	*	Paylocity Holding Corp		609
	835,322	*	PayPal Holdings, Inc		35,936
	24,918		Pegasystems, Inc		1,093
	25,493	*	Perficient, Inc		443
	8,684	*	PFSweb, Inc		57
	30,646	*	Planet Payment, Inc		122
	38,195		Progress Software Corp		1,110
	30,192	*	Proofpoint, Inc		2,245
	17,256	*	PROS Holdings, Inc		417
	85,331	*	PTC, Inc		4,484
	18,985	*	Q2 Holdings, Inc		662
	7,729		QAD, Inc (Class A)		215
	20,132	*	Qualys, Inc		763
	20,643	*	QuinStreet, Inc		81
	45,152	*	Quotient Technology, Inc		431
	14,504	*,e	Rapid7, Inc		217
	18,038	*	RealNetworks, Inc		87
	39,496	*	RealPage, Inc		1,378
	133,680	*	Red Hat, Inc		11,563
	6,528		Reis, Inc		117
	28,776	*	RetailMeNot, Inc		233
	8,995	*	Rightside Group Ltd		89
	43,553	*	RingCentral, Inc		1,233
	13,437	*	Rosetta Stone, Inc		131
	27,990	*	Rubicon Project, Inc		165
	151,223		Sabre Corp		3,204
	471,727	*	salesforce.com, Inc		38,913
	17,304		Sapiens International Corp NV		223
	32,302		Science Applications International Corp		2,403
	4,599	*	SecureWorks Corp		44
	117,075	*	ServiceNow, Inc		10,241
	46,932	*	ServiceSource International LLC		182
	14,547	*	Shutterstock, Inc		602
	26,176	*	Silver Spring Networks, Inc		296
	95,445	*	Splunk, Inc		5,945
	12,246	*	SPS Commerce, Inc		716
	38,308	*	Square, Inc		662
	120,989		SS&C Technologies Holdings, Inc		4,283
	11,844	*,e	Stamps.com, Inc		1,402
	29,262	*	Sykes Enterprises, Inc		860
	452,092		Symantec Corp		13,870
	30,290	*	Synchronoss Technologies, Inc		739
	104,303	*	Synopsys, Inc		7,523
	23,254		Syntel, Inc		391

298

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	40,894	*	Tableau Software, Inc	$	2,026
	62,894	*	Take-Two Interactive Software, Inc		3,728
	12,153	*	TechTarget, Inc		110
	20,400	*	TeleNav, Inc		176
	13,212		TeleTech Holdings, Inc		391
	95,609	*	Teradata Corp		2,975
	87,321		TiVo Corp		1,637
	121,370		Total System Services, Inc		6,488
	3,972	*	Trade Desk, Inc		148
	85,621		Travelport Worldwide Ltd		1,008
	36,314	*,e	TrueCar, Inc		562
	11,692	*,e	Twilio, Inc		338
	470,865	*,e	Twitter, Inc		7,039
	24,473	*	Tyler Technologies, Inc		3,783
	20,396	*,e	Ultimate Software Group, Inc		3,982
	38,674	*	Unisys Corp		540
	114,898	*	Vantiv, Inc		7,367
	7,614	*	Varonis Systems, Inc		242
	21,489	*	Vasco Data Security International		290
	45,384	*	Verint Systems, Inc		1,969
	69,195	*,e	VeriSign, Inc		6,028
	32,131	*,e	VirnetX Holding Corp		74
	21,946	*	Virtusa Corp		663
	1,408,964		Visa, Inc (Class A)		125,215
	59,283	*,e	VMware, Inc (Class A)		5,462
	27,469	*	WebMD Health Corp (Class A)		1,447
	32,723	*	Website Pros, Inc		632
	351,273		Western Union Co		7,148
	28,569	*	WEX, Inc		2,957
	86,519	*	Workday, Inc		7,205
	16,351	*	Workiva, Inc		256
	16,652	*	Xactly Corp		198
	19,259	*	XO Group, Inc		331
	640,938	*	Yahoo!, Inc		29,746
	49,133	*	Yelp, Inc		1,609
	60,059	*	Zendesk, Inc		1,684
	38,071	*	Zillow Group, Inc		1,287
	76,096	*,e	Zillow Group, Inc (Class C)		2,562
	47,197	*	Zix Corp		227
	565,694	*	Zynga, Inc		1,612
			TOTAL SOFTWARE & SERVICES		2,213,189
TECHNOLOGY HARDWARE & EQUIPMENT - 5.6%
	80,518	*,e	3D Systems Corp		1,205
	39,852		Adtran, Inc		827
	16,323	*,e	Aerohive Networks, Inc		69
	11,056	*	Agilysys, Inc		104
	221,247		Amphenol Corp (Class A)		15,746
	21,094	*	Anixter International, Inc		1,673
	4,039,313		Apple, Inc		580,288
	11,231	*,e	Applied Optoelectronics, Inc		631
	28,921	*	Arista Networks, Inc		3,825

299

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	139,939	*	ARRIS International plc	$	3,701
	66,366	*	Arrow Electronics, Inc		4,872
	24,161	*,e	Avid Technology, Inc		113
	92,405		Avnet, Inc		4,228
	34,410		AVX Corp		564
	20,748		Badger Meter, Inc		762
	7,316		Bel Fuse, Inc (Class B)		187
	30,967		Belden CDT, Inc		2,143
	39,122	*	Benchmark Electronics, Inc		1,244
	12,526		Black Box Corp		112
	299,301		Brocade Communications Systems, Inc		3,735
	26,799	*	CalAmp Corp		450
	28,887	*	Calix, Inc		209
	120,330		CDW Corp		6,944
	101,053	*	Ciena Corp		2,386
	3,713,695		Cisco Systems, Inc		125,523
	8,964	*	Clearfield, Inc		147
	60,271		Cognex Corp		5,060
	17,685	*	Coherent, Inc		3,637
	94,899	*	CommScope Holding Co, Inc		3,958
	11,551		Comtech Telecommunications Corp		170
	15,682	*	Control4 Corp		248
	699,847		Corning, Inc		18,896
	16,854		CPI Card Group, Inc		71
	29,620	*	Cray, Inc		649
	23,637		CTS Corp		503
	27,847		Daktronics, Inc		263
	47,853	e	Diebold, Inc		1,469
	18,652	*	Digi International, Inc		222
	36,841		Dolby Laboratories, Inc (Class A)		1,931
	13,533	*,e	Eastman Kodak Co		156
	32,770	*	EchoStar Corp (Class A)		1,866
	21,493	*	Electro Scientific Industries, Inc		150
	35,264	*	Electronics for Imaging, Inc		1,722
	18,982		EMCORE Corp		171
	4,639	*	ePlus, Inc		626
	79,396	*	Extreme Networks, Inc		596
	49,119	*	F5 Networks, Inc		7,003
	26,560	*	Fabrinet		1,116
	12,851	*	FARO Technologies, Inc		459
	76,718	*	Finisar Corp		2,097
	94,067	*,e	Fitbit, Inc		557
	101,102		Flir Systems, Inc		3,668
	67,185	*	Harmonic, Inc		400
	92,391		Harris Corp		10,280
	1,277,427		Hewlett Packard Enterprise Co		30,275
	1,269,771		HP, Inc		22,704
	43,712	*	II-VI, Inc		1,576
	21,661	*,e	Immersion Corp		188
	103,799	*	Infinera Corp		1,062
	26,955	*	Insight Enterprises, Inc		1,108
	26,730		InterDigital, Inc		2,307
	57,029	*	InvenSense, Inc		720

300

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	25,418	*	IPG Photonics Corp	$	3,068
	24,355	*	Itron, Inc		1,478
	47,261	*	Ixia		929
	137,065		Jabil Circuit, Inc		3,964
	274,300		Juniper Networks, Inc		7,634
	125,388	*	Keysight Technologies, Inc		4,532
	21,162	*	Kimball Electronics, Inc		359
	64,648	*,e	Knowles Corp		1,225
	10,929	*	KVH Industries, Inc		92
	16,323		Littelfuse, Inc		2,610
	37,299	*	Lumentum Holdings, Inc		1,990
	24,482	*,e	Maxwell Technologies, Inc		142
	1,988		Mesa Laboratories, Inc		244
	26,896		Methode Electronics, Inc		1,226
	121,234		Motorola, Inc		10,453
	11,234		MTS Systems Corp		618
	76,834		National Instruments Corp		2,502
	91,730	*	NCR Corp		4,190
	197,722		NetApp, Inc		8,275
	23,887	*	Netgear, Inc		1,184
	67,183	*	Netscout Systems, Inc		2,550
	45,808	*	Nimble Storage, Inc		573
	25,552	*	Novanta, Inc		678
	81,984	*,e	Oclaro, Inc		805
	12,827	*	OSI Systems, Inc		936
	64,548	*	Palo Alto Networks, Inc		7,273
	16,460		Park Electrochemical Corp		294
	8,216		PC Connection, Inc		245
	24,496		Plantronics, Inc		1,325
	25,402	*	Plexus Corp		1,468
	51,628	*	Pure Storage, Inc		507
	26,581	*	Radisys Corp		106
	13,791	*	Rogers Corp		1,184
	51,327	*	Sanmina Corp		2,084
	21,738	*	Scansource, Inc		853
	49,410	*	ShoreTel, Inc		304
	3,876		Silicom Ltd		193
	37,508	*	Sonus Networks, Inc		247
	37,383	*,e	Stratasys Ltd		766
	27,221	*	Super Micro Computer, Inc		690
	25,356	*	Synaptics, Inc		1,255
	21,522		SYNNEX Corp		2,409
	9,938		Systemax, Inc		110
	25,846	*	Tech Data Corp		2,427
	183,968	*	Trimble Navigation Ltd		5,889
	53,380	*	TTM Technologies, Inc		861
	19,221	*,e	Ubiquiti Networks, Inc		966
	30,627		Universal Display Corp		2,637
	28,420	*	USA Technologies, Inc		121
	84,224	*	VeriFone Systems, Inc		1,578
	36,943	*,e	Viasat, Inc		2,358
	173,185	*	Viavi Solutions, Inc		1,857

301

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	100,754		Vishay Intertechnology, Inc	$	1,657
	9,508	*	Vishay Precision Group, Inc		150
	209,551		Western Digital Corp		17,294
	720,030		Xerox Corp		5,285
	38,312	*	Zebra Technologies Corp (Class A)		3,496
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,019,718
TELECOMMUNICATION SERVICES - 2.2%
	4,544,981		AT&T, Inc		188,844
	7,918		ATN International, Inc		558
	27,406	*	Boingo Wireless, Inc		356
	393,053	e	CenturyTel, Inc		9,264
	29,963	*	Cincinnati Bell, Inc		530
	34,230		Cogent Communications Group, Inc		1,474
	38,388	e	Consolidated Communications Holdings, Inc		899
	16,551	*	Fairpoint Communications, Inc		275
	861,250	e	Frontier Communications Corp		1,843
	24,304	*	General Communication, Inc (Class A)		506
	280,242	*,e	Globalstar, Inc		448
	7,568	*	Hawaiian Telcom Holdco, Inc		173
	10,513		IDT Corp (Class B)		134
	60,764	*,e	Iridium Communications, Inc		586
	217,035	*	Level 3 Communications, Inc		12,419
	16,622	*	Lumos Networks Corp		294
	44,329	*	Orbcomm, Inc		423
	9,439	*	pdvWireless, Inc		206
	36,302		Shenandoah Telecom Co		1,018
	17,224		Spok Holdings, Inc		327
	563,564	*	Sprint Corp		4,892
	6,721	*,e	Straight Path Communications, Inc		242
	70,982		Telephone & Data Systems, Inc		1,882
	212,044	*	T-Mobile US, Inc		13,696
	9,529	*	US Cellular Corp		356
	3,006,912		Verizon Communications, Inc		146,587
	137,981	*	Vonage Holdings Corp		872
	134,628	e	Windstream Holdings, Inc		734
	121,065	*	Zayo Group Holdings, Inc		3,983
			TOTAL TELECOMMUNICATION SERVICES		393,821
TRANSPORTATION - 2.1%
	40,179	*	Air Transport Services Group, Inc		645
	88,863		Alaska Air Group, Inc		8,195
	9,679		Allegiant Travel Co		1,551
	4,641		Amerco, Inc		1,769
	392,244		American Airlines Group, Inc		16,592
	19,331		Arkansas Best Corp		503
	18,341	*	Atlas Air Worldwide Holdings, Inc		1,017
	57,117	*	Avis Budget Group, Inc		1,690
	20,049		Celadon Group, Inc		131
	104,022		CH Robinson Worldwide, Inc		8,040
	23,025		Copa Holdings S.A. (Class A)		2,585
	19,472		Costamare, Inc		130

302

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	8,672	*	Covenant Transportation Group, Inc	$	163
	698,824		CSX Corp		32,530
	536,667		Delta Air Lines, Inc		24,665
	21,969	*	Echo Global Logistics, Inc		469
	132,960		Expeditors International of Washington, Inc		7,511
	183,981		FedEx Corp		35,904
	22,919		Forward Air Corp		1,090
	41,033	*	Genesee & Wyoming, Inc (Class A)		2,784
	38,821	*	Hawaiian Holdings, Inc		1,803
	31,397		Heartland Express, Inc		629
	53,667	*,e	Hertz Global Holdings, Inc		941
	24,562	*	Hub Group, Inc (Class A)		1,140
	65,830		J.B. Hunt Transport Services, Inc		6,039
	239,760	*	JetBlue Airways Corp		4,941
	80,060		Kansas City Southern Industries, Inc		6,866
	39,101	*	Kirby Corp		2,759
	49,465		Knight Transportation, Inc		1,551
	31,224		Landstar System, Inc		2,674
	55,340		Macquarie Infrastructure Co LLC		4,459
	17,739		Marten Transport Ltd		416
	32,238		Matson, Inc		1,024
	218,394		Norfolk Southern Corp		24,454
	50,044		Old Dominion Freight Line		4,282
	2,470	*	PAM Transportation Services, Inc		40
	6,136		Park-Ohio Holdings Corp		221
	29,335	*	Radiant Logistics, Inc		147
	20,933	*	Roadrunner Transportation Services Holdings, Inc		144
	39,438		Ryder System, Inc		2,975
	18,094	*	Saia, Inc		802
	40,927	*,e	Scorpio Bulkers, Inc		377
	37,279		Skywest, Inc		1,277
	466,094		Southwest Airlines Co		25,057
	53,061	*	Spirit Airlines, Inc		2,816
	56,718	*	Swift Transportation Co, Inc		1,165
	620,930		Union Pacific Corp		65,769
	235,540	*	United Continental Holdings, Inc		16,639
	508,206		United Parcel Service, Inc (Class B)		54,530
	6,297		Universal Truckload Services, Inc		90
	7,128	*	USA Truck, Inc		52
	32,839		Werner Enterprises, Inc		860
	72,099	*	XPO Logistics, Inc		3,453
	23,809	*	YRC Worldwide, Inc		262
			TOTAL TRANSPORTATION		388,618
UTILITIES - 3.2%
	489,784		AES Corp		5,476
	36,666		Allete, Inc		2,483
	168,853		Alliant Energy Corp		6,688
	179,688		Ameren Corp		9,809
	364,032		American Electric Power Co, Inc		24,437
	29,456		American States Water Co		1,305
	132,288		American Water Works Co, Inc		10,288

303

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	128,721		Aqua America, Inc	$	4,138
	4,909		Artesian Resources Corp		160
	92,825	*	Atlantic Power Corp		246
	43,641		Atlantica Yield plc		915
	73,233		Atmos Energy Corp		5,785
	41,780		Avangrid, Inc		1,786
	45,672		Avista Corp		1,783
	38,044	e	Black Hills Corp		2,529
	35,650		California Water Service Group		1,278
	267,147	*	Calpine Corp		2,952
	320,765		Centerpoint Energy, Inc		8,843
	10,716		Chesapeake Utilities Corp		741
	203,302		CMS Energy Corp		9,096
	8,405		Connecticut Water Service, Inc		447
	229,341		Consolidated Edison, Inc		17,811
	10,961		Consolidated Water Co, Inc		128
	4,925		Delta Natural Gas Co, Inc		149
	456,632		Dominion Resources, Inc		35,421
	133,148		DTE Energy Co		13,596
	505,910		Duke Energy Corp		41,490
	85,842	*	Dynegy, Inc		675
	233,776		Edison International		18,611
	30,616		El Paso Electric Co		1,546
	127,868		Entergy Corp		9,713
	234,210		Eversource Energy		13,767
	654,773		Exelon Corp		23,559
	47,286	*,m	Ferroglobe plc		0
	312,527		FirstEnergy Corp		9,945
	9,378		Genie Energy Ltd		68
	6,410	e	Global Water Resources, Inc		56
	159,548		Great Plains Energy, Inc		4,662
	79,361		Hawaiian Electric Industries, Inc		2,643
	37,236		Idacorp, Inc		3,089
	144,429		MDU Resources Group, Inc		3,953
	26,250		MGE Energy, Inc		1,706
	11,759		Middlesex Water Co		434
	57,193		National Fuel Gas Co		3,410
	63,442		New Jersey Resources Corp		2,512
	342,348		NextEra Energy, Inc		43,947
	234,601		NiSource, Inc		5,581
	22,143		Northwest Natural Gas Co		1,309
	29,137		NorthWestern Corp		1,710
	234,043		NRG Energy, Inc		4,377
	22,472		NRG Yield, Inc (Class A)		391
	47,061		NRG Yield, Inc (Class C)		833
	147,340		OGE Energy Corp		5,154
	38,369		ONE Gas, Inc		2,594
	28,629		Ormat Technologies, Inc		1,634
	27,545		Otter Tail Corp		1,044
	42,747	e	Pattern Energy Group, Inc		860
	370,187		PG&E Corp		24,566
	73,587		Pinnacle West Capital Corp		6,136
	58,763		PNM Resources, Inc		2,174

304

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	60,606		Portland General Electric Co	$	2,692
	493,295		PPL Corp		18,444
	373,339		Public Service Enterprise Group, Inc		16,557
	96,341		SCANA Corp		6,296
	185,179		Sempra Energy		20,462
	12,005		SJW Corp		579
	58,642		South Jersey Industries, Inc		2,091
	733,890		Southern Co		36,533
	34,400		Southwest Gas Corp		2,852
	3,772	e	Spark Energy, Inc		120
	32,340		Spire, Inc		2,183
	65,781		TerraForm Global, Inc		316
	63,597		TerraForm Power, Inc		787
	128,103		UGI Corp		6,328
	10,272		Unitil Corp		462
	61,078		Vectren Corp		3,580
	15,334	*,e	Vivint Solar, Inc		43
	233,695		WEC Energy Group, Inc		14,169
	94,766		Westar Energy, Inc		5,143
	36,819		WGL Holdings, Inc		3,039
	378,136		Xcel Energy, Inc		16,808
	9,006		York Water Co		316
			TOTAL UTILITIES		572,239
			TOTAL COMMON STOCKS		18,126,802
			(Cost $9,034,168)
RIGHTS / WARRANTS - 0.0%
DIVERSIFIED FINANCIALS - 0.0%
	1,387	m	Emergent Capital, Inc		0
			TOTAL DIVERSIFIED FINANCIALS		0
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	10,743	m	Forest Laboratories, Inc CVR		10
	4,045	m	Omthera Pharmaceuticals, Inc		3
	28,951	m	Trius Therapeutics, Inc		0
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		13
SOFTWARE & SERVICES - 0.0%
	19,206	m	Gerber Scientific, Inc		0
			TOTAL SOFTWARE & SERVICES		0
			TOTAL RIGHTS / WARRANTS		13
			(Cost $1)

305

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
SHORT-TERM INVESTMENTS - 1.4%
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.4%
	256,716,365	c	State Street Navigator Securities Lending Government Money Market Portfolio	$	256,716
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES		256,716
			TOTAL SHORT-TERM INVESTMENTS		256,716
			(Cost $256,716)
			TOTAL INVESTMENTS - 101.3%		18,383,531
			(Cost $9,290,885)
			OTHER ASSETS & LIABILITIES, NET - (1.3)%		(232,173	)
			NET ASSETS - 100.0%	$	18,151,358

Abbreviation(s):

ETF	Exchange Traded Fund
REIT	Real Estate Investment Trust
SPDR	Standard & Poor’s Depository Receipts

*	Non-income producing
c	Investments made with cash collateral received from securities on loan.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $250,379,000.
m	Indicates a security that has been deemed illiquid.
	Cost amounts are in thousands.

306

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

COLLEGE RETIREMENT EQUITIES FUND

BOND MARKET ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2017

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
BANK LOAN OBLIGATIONS - 0.7%
CAPITAL GOODS - 0.0%
$	1,325,000	i	Avolon TLB Borrower  Luxembourg Sarl		3.730	%	01/20/22	$	1,342
	990,389	i	TransDigm, Inc		4.037		05/14/22		986
			TOTAL CAPITAL GOODS						2,328
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	1,000,000	i	B/E Aerospace Inc		4.000		12/16/21		999
	1,892,797	i	Trans Union LLC		3.482		04/09/23		1,903
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						2,902
CONSUMER DURABLES & APPAREL - 0.0%
	896,647	i	Hanesbrands, Inc		3.482		04/29/22		902
	100,000	i	Sabre GLBL, Inc		3.732		02/22/24		101
			TOTAL CONSUMER DURABLES & APPAREL						1,003
CONSUMER SERVICES - 0.0%
	500,000		1011778 BC / New Red Fin		3.309		02/17/24		500
	1,550,000	i	Boyd Gaming Corp		3.500		09/15/23		1,558
	3,704,370		Hilton Worldwide Finance LLC		2.982		10/25/23		3,730
	719,563	i	KFC Holding Co		2.976		06/16/23		723
			TOTAL CONSUMER SERVICES						6,511
DIVERSIFIED FINANCIALS - 0.0%
	200,000	i	Mallinckrodt International Finance S.A.		3.897		09/24/24		200
			TOTAL DIVERSIFIED FINANCIALS						200
ENERGY - 0.0%
	1,720,000	i	California Resources Corp		11.375		12/31/21		1,898
	2,500,000	i	Dynegy, Inc		4.250		06/27/23		2,505
	83,270	i	Granite Acquisition, Inc		5.147		12/17/21		84
	1,849,913	i	Granite Acquisition, Inc		5.147		12/19/21		1,864
			TOTAL ENERGY						6,351
FOOD & STAPLES RETAILING - 0.0%
	3,466,871	i	Albertsons LLC		3.982		08/22/21		3,481
	209,000	i	Albertsons LLC		4.302		06/22/23		210
			TOTAL FOOD & STAPLES RETAILING						3,691
FOOD, BEVERAGE & TOBACCO - 0.0%
	2,000,000	i	B&G Foods, Inc		3.232		11/02/22		2,015
			TOTAL FOOD, BEVERAGE & TOBACCO						2,015
HEALTH CARE EQUIPMENT & SERVICES - 0.2%
	3,479,403	i	Capsugel Holdings US, Inc		4.000		07/31/21		3,480
	1,500,000	i	Change Healthcare Holdings LLC		3.750		03/01/24		1,502
	289,404	i	CHS/Community Health Systems		4.048		01/27/21		285

307

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,653,250	i	DaVita HealthCare Partners, Inc		3.732	%	06/24/21	$	1,671
	1,995,000	i	Envision Healthcare Corp		4.150		12/01/23		2,010
	5,500,000	i	Tennessee Merger Sub, Inc		3.750		02/06/24		5,456
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						14,404
MATERIALS - 0.2%
	2,000,000	i	American Builders & Contractors Supply Co, Inc		3.732		10/31/23		2,003
	2,249,342	i	Berry Plastics Corp		3.500		10/01/22		2,262
	1,500,000	i	Berry Plastics Corp		3.520		01/19/24		1,509
	500,000	i	Ineos US Finance LLC		3.732		04/01/24		502
	2,784,521	i	Minerals Technologies, Inc		3.294		02/14/24		2,795
	1,426,622	i	PolyOne Corp		3.131		11/12/22		1,437
			TOTAL MATERIALS						10,508
MEDIA - 0.2%
	984,375	i	CSC Holdings LLC		3.943		10/11/24		982
	2,392,500	i	Lions Gate Entertainment Corp		3.982		12/08/23		2,405
	4,308,182	i	MTL Publishing LLC		3.580		08/19/22		4,321
	1,087,727	i	Nexstar Broadcasting, Inc		3.943		01/17/24		1,096
	105,455	i	Nexstar Broadcasting, Inc		3.943		01/17/24		106
	4,125,000	i	Outfront Media Capital LLC		3.178		03/18/24		4,147
	3,029,946	i	Virgin Media Bristol LLC		3.662		01/31/25		3,037
			TOTAL MEDIA						16,094
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	500,000	i	Endo Luxembourg Finance I Co Sarl		4.000		09/26/22		499
	3,523,846	i	Quintiles IMS, Inc		3.051		03/03/24		3,551
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						4,050
REAL ESTATE - 0.0%
	3,930,000	i	DTZ US Borrower LLC		4.304		11/04/21		3,950
	1,658,250	i	MGM Growth Properties LLC		3.482		04/25/23		1,665
			TOTAL REAL ESTATE						5,615
RETAILING - 0.0%
	1,977,017	i	Avis Budget Car Rental LLC		3.150		03/15/22		1,979
	2,830,049	i	PetSmart, Inc		4.020		03/11/22		2,699
			TOTAL RETAILING						4,678
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.0%
	1,492,500	i	Versum Materials, Inc		3.647		09/29/23		1,507
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						1,507
SOFTWARE & SERVICES - 0.1%
	1,697,794	i	CSRA, Inc		3.482		11/30/23		1,712
	4,500,000	i	First Data Corp		3.984		07/08/22		4,533
	127,307	i	SS&C European Holdings SARL		3.232		07/08/22		128
	1,489,238	i	SS&C Technologies, Inc		3.232		07/08/22		1,496
			TOTAL SOFTWARE & SERVICES						7,869
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	1,027,325	i	CommScope, Inc		3.482		12/29/22		1,081
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						1,081

308

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
TRANSPORTATION - 0.0%
$	2,550,000	i	American Airlines, Inc		3.412	%	12/14/23	$	2,553
	250,000	i	Vouvray US Finance, LLC		4.180		01/17/24		250
			TOTAL TRANSPORTATION						2,803
			TOTAL BANK LOAN OBLIGATIONS						93,610
			(Cost $93,199)
BONDS - 97.2%
CORPORATE BONDS - 35.9%
AUTOMOBILES & COMPONENTS - 0.5%
EUR	1,750,000	g	Adient Global Holdings Ltd		3.500		08/15/24		1,878
$	590,000	g	Adient Global Holdings Ltd		4.875		08/15/26		579
	960,000	g	Allison Transmission, Inc		5.000		10/01/24		970
	9,650,000	g	BMW US Capital LLC		2.000		04/11/21		9,458
EUR	500,000		Daimler AG.		0.875		01/12/21		546
$	4,050,000		Delphi Automotive plc		3.150		11/19/20		4,131
	3,175,000		Delphi Automotive plc		4.400		10/01/46		3,024
	4,600,000		Ford Motor Co		4.346		12/08/26		4,683
EUR	1,200,000	g	Gates Global LLC		5.750		07/15/22		1,303
$	185,000	g	Gates Global LLC		6.000		07/15/22		188
	6,950,000		General Motors Co		6.600		04/01/36		7,989
	4,975,000		General Motors Co		6.750		04/01/46		5,825
	1,775,000	g	Hyundai Capital America		2.000		07/01/19		1,759
	400,000	g	Hyundai Capital America		1.750		09/27/19		393
	2,425,000	g	Hyundai Capital America		2.600		03/19/20		2,425
	3,850,000	g	Hyundai Capital America		2.550		04/03/20		3,850
	4,775,000	g	Hyundai Capital Services, Inc		3.000		03/06/22		4,768
	200,000	g,o	IHO Verwaltungs GmbH		4.125		09/15/21		201
	200,000	g,o	IHO Verwaltungs GmbH		4.500		09/15/23		198
EUR	400,000	g	IHO Verwaltungs GmbH		3.750		09/15/26		434
$	8,675,000		Magna International, Inc		3.625		06/15/24		8,850
	600,000	g	Schaeffler Finance BV		4.750		05/15/23		617
	1,000,000		Tenneco, Inc		5.000		07/15/26		979
	175,000	g	ZF North America Capital, Inc		4.500		04/29/22		182
	1,000,000	g	ZF North America Capital, Inc		4.750		04/29/25		1,035
			TOTAL AUTOMOBILES & COMPONENTS						66,265
BANKS - 6.2%
	3,625,000	g,i	Akbank TAS		7.200		03/16/27		3,765
	6,950,000	g	ANZ New Zealand Int’l Ltd		2.125		07/28/21		6,762
	4,000,000	g	Banco de Bogota S.A.		6.250		05/12/26		4,175
	3,825,000	g	Banco Nacional de Comercio Exterior SNC		4.375		10/14/25		3,887
	5,000,000	g	Bank Nederlandse Gemeenten		2.625		04/28/21		5,085
	8,525,000		Bank of America Corp		6.000		09/01/17		8,678
	15,900,000		Bank of America Corp		2.151		11/09/20		15,754
	10,200,000		Bank of America Corp		3.875		08/01/25		10,380
	200,000		Bank of America Corp		4.250		10/22/26		203
	28,050,000		Bank of America Corp		3.248		10/21/27		26,698

309

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	10,825,000	i	Bank of America Corp		3.824	%	01/20/28	$	10,847
	6,075,000		Bank of America Corp		4.750		04/21/45		6,103
	500,000	g	Bank of Montreal		2.500		01/11/22		501
	25,000,000		Bank of Nova Scotia		2.125		09/11/19		25,115
	5,450,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd		2.350		09/08/19		5,466
	7,100,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd		3.250		09/08/24		7,088
	6,700,000		Barclays plc		3.650		03/16/25		6,524
	500,000		Barclays plc		5.200		05/12/26		512
	3,300,000	g	BNP Paribas S.A.		3.800		01/10/24		3,283
	3,200,000		Branch Banking & Trust Co		2.300		10/15/18		3,222
	7,500,000	g	Caixa Economica Federal		3.500		11/07/22		7,148
	11,850,000		Capital One Bank USA NA		2.950		07/23/21		11,943
	4,500,000		Capital One Bank USA NA		3.375		02/15/23		4,490
	50,075,000		Citigroup, Inc		3.200		10/21/26		47,794
	10,850,000	i	Citigroup, Inc		3.887		01/10/28		10,897
	175,000		Citigroup, Inc		4.650		07/30/45		183
	10,000,000	i	Citigroup, Inc		5.350		12/30/49		10,000
	2,775,000		Citizens Bank NA		2.550		05/13/21		2,759
	2,350,000		Citizens Financial Group, Inc		2.375		07/28/21		2,317
	6,875,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		3.950		11/09/22		7,054
	5,275,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		5.250		08/04/45		5,690
	13,700,000		Cooperatieve Rabobank UA		2.500		01/19/21		13,712
	17,725,000		Cooperatieve Rabobank UA		3.750		07/21/26		17,317
	4,825,000	g	Credit Agricole S.A.		2.500		04/15/19		4,854
	5,500,000	g	Credit Agricole S.A.		2.375		07/01/21		5,389
	10,875,000	g	Credit Agricole S.A.		3.375		01/10/22		10,874
	3,800,000	g	DBS Group Holdings Ltd		2.246		07/16/19		3,813
EUR	200,000		Deutsche Bank AG.		1.250		09/08/21		216
$	3,125,000		Discover Bank		3.100		06/04/20		3,187
	4,875,000		Discover Bank		3.200		08/09/21		4,936
EUR	1,000,000		FCE Bank plc		1.134		02/10/22		1,075
$	2,300,000	g	GTH Finance BV		7.250		04/26/23		2,530
	7,350,000	g	HSBC Bank plc		4.125		08/12/20		7,762
	20,525,000		HSBC Holdings plc		2.650		01/05/22		20,244
	13,075,000	i	HSBC Holdings plc		3.262		03/13/23		13,138
	250,000		HSBC Holdings plc		4.250		08/18/25		252
	11,825,000		HSBC Holdings plc		3.900		05/25/26		11,943
	3,825,000		HSBC Holdings plc		4.375		11/23/26		3,854
	6,450,000	i	HSBC Holdings plc		4.041		03/13/28		6,519
	100,000		HSBC Holdings plc		5.250		03/14/44		108
	5,000,000		HSBC USA, Inc		1.625		01/16/18		4,997
	3,150,000		Industrial & Commercial Bank of China Ltd		2.452		10/20/21		3,087
EUR	250,000		Intesa Sanpaolo S.p.A		3.500		01/17/22		296
$	400,000	g	Itau Unibanco Holding S.A.		5.125		05/13/23		409
	12,925,000		JPMorgan Chase & Co		2.750		06/23/20		13,092
	16,725,000		JPMorgan Chase & Co		2.295		08/15/21		16,550
	4,850,000		JPMorgan Chase & Co		2.700		05/18/23		4,744
	20,400,000		JPMorgan Chase & Co		3.200		06/15/26		19,805
	21,275,000		JPMorgan Chase & Co		2.950		10/01/26		20,226
	200,000		JPMorgan Chase & Co		4.950		06/01/45		211
	9,800,000	i	JPMorgan Chase & Co		4.260		02/22/48		9,783
	3,750,000	i	JPMorgan Chase & Co		5.150		12/30/49		3,783
	2,700,000		KeyBank NA		2.500		12/15/19		2,730
	3,325,000		Lloyds Banking Group plc		3.000		01/11/22		3,306

310

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	4,475,000	g	Macquarie Bank Ltd		2.600	%	06/24/19	$	4,519
	9,950,000		Manufacturers & Traders Trust Co		2.100		02/06/20		9,928
	13,050,000		Mitsubishi UFJ Financial Group, Inc		3.677		02/22/27		13,202
AUD	500,000		National Australia Bank Ltd		5.000		03/11/24		419
$	13,600,000		National Australia Bank Ltd		2.500		07/12/26		12,733
	1,500,000	g,i	Oversea-Chinese Banking Corp Ltd		4.000		10/15/24		1,540
	2,325,000	g	PKO Finance AB		4.630		09/26/22		2,448
	10,400,000		PNC Bank NA		2.200		01/28/19		10,471
	11,475,000		PNC Bank NA		2.250		07/02/19		11,558
	17,000,000		PNC Bank NA		2.600		07/21/20		17,161
	10,950,000		PNC Bank NA		2.700		11/01/22		10,866
	17,395,000		PNC Bank NA		2.950		01/30/23		17,459
	6,000,000		PNC Financial Services Group, Inc		3.900		04/29/24		6,223
	4,900,000	g,i	Rabobank Nederland NV		11.000		12/30/49		5,721
	12,000,000		Royal Bank of Canada		1.200		09/19/17		11,995
	40,000,000		Royal Bank of Canada		1.875		02/05/20		39,799
	15,000,000	g	Skandinaviska Enskilda Banken AB		1.375		05/29/18		14,944
	13,100,000	g	Skandinaviska Enskilda Banken AB		2.625		11/17/20		13,179
SEK	19,000,000		Skandinaviska Enskilda Banken AB		1.500		12/15/21		2,206
$	3,800,000		Sumitomo Mitsui Banking Corp		2.500		07/19/18		3,834
	6,650,000		Sumitomo Mitsui Banking Corp		2.450		01/16/20		6,676
	4,025,000		Sumitomo Mitsui Banking Corp		3.650		07/23/25		4,120
	13,875,000		Sumitomo Mitsui Financial Group, Inc		2.442		10/19/21		13,714
	6,850,000		SunTrust Banks, Inc		2.900		03/03/21		6,932
	5,700,000		SunTrust Banks, Inc		2.750		05/01/23		5,630
	5,000,000		Toronto-Dominion Bank		1.450		09/06/18		4,989
	13,700,000		Toronto-Dominion Bank		2.500		12/14/20		13,813
	2,350,000	i	Toronto-Dominion Bank		3.625		09/15/31		2,301
	500,000	g	Turkiye Halk Bankasi AS.		5.000		07/13/21		479
	2,350,000	g	Turkiye Is Bankasi		3.750		10/10/18		2,347
	2,775,000	g	Turkiye Is Bankasi		5.500		04/21/19		2,839
	800,000	g	Turkiye Is Bankasi		5.375		10/06/21		790
	2,100,000	g	Turkiye Is Bankasi		5.500		04/21/22		2,064
	7,100,000		Union Bank NA		2.125		06/16/17		7,115
	5,700,000		UnionBanCal Corp		3.500		06/18/22		5,836
	17,650,000		US Bank NA		2.800		01/27/25		17,327
	10,000,000	g	Westpac Banking Corp		1.850		11/26/18		10,040
AUD	600,000		Westpac Banking Corp		5.250		11/21/23		509
$	11,475,000		Westpac Banking Corp		2.700		08/19/26		10,915
	8,475,000	i	Westpac Banking Corp		4.322		11/23/31		8,563
			TOTAL BANKS						836,269
CAPITAL GOODS - 0.9%
	500,000	g	Alpek S.A. de C.V.		4.500		11/20/22		508
GBP	1,000,000		BAE Systems plc		4.125		06/08/22		1,414
EUR	1,000,000		Bayer AG.		1.875		01/25/21		1,133
$	2,075,000		Eaton Corp		4.000		11/02/32		2,100
	250,000		Eaton Corp		4.150		11/02/42		246
	4,350,000		Embraer Netherlands Finance BV		5.400		02/01/27		4,487
GBP	1,000,000		Glencore Finance Europe S.A.		6.500		02/27/19		1,370
$	1,500,000	g	Gold Fields Orogen Holding BVI Ltd		4.875		10/07/20		1,508
	1,300,000	g	Huntington Ingalls Industries, Inc		5.000		12/15/21		1,347
EUR	1,000,000		Illinois Tool Works, Inc		1.250		05/22/23		1,106

311

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	4,250,000		Ingersoll-Rand Luxembourg Finance S.A.		3.550	%	11/01/24	$	4,313
EUR	600,000		Johnson Controls International plc		1.000		09/15/23		637
$	8,350,000		Lockheed Martin Corp		2.500		11/23/20		8,407
	5,200,000		Lockheed Martin Corp		3.550		01/15/26		5,278
	200,000		Lockheed Martin Corp		4.700		05/15/46		217
	6,375,000	g	Molex Electronic Technologies LLC		2.878		04/15/20		6,417
	9,825,000	g	Molex Electronic Technologies LLC		3.900		04/15/25		9,760
	1,215,970	g	Odebrecht Offshore Drilling Finance Ltd		6.625		10/01/22		450
	1,653,800	g	Odebrecht Offshore Drilling Finance Ltd		6.750		10/01/22		612
	4,925,000	g	Parker-Hannifin Corp		3.250		03/01/27		4,905
	4,925,000		Rockwell Automation, Inc		2.050		03/01/20		4,907
	8,725,000	h	Rockwell Collins, Inc		3.500		03/15/27		8,728
	3,375,000		Roper Technologies, Inc		3.800		12/15/26		3,390
	11,300,000	g	Siemens Financieringsmaatschappij NV		1.700		09/15/21		10,893
	11,300,000	g	Siemens Financieringsmaatschappij NV		2.350		10/15/26		10,494
	350,000	g	Stena AB		7.000		02/01/24		327
	2,075,000		Textron, Inc		3.875		03/01/25		2,110
	12,950,000		Timken Co		3.875		09/01/24		12,732
	5,200,000	g	TSMC Global Ltd		1.625		04/03/18		5,187
	8,225,000		United Technologies Corp		3.750		11/01/46		7,720
			TOTAL CAPITAL GOODS						122,703
COMMERCIAL & PROFESSIONAL SERVICES - 0.7%
	1,250,000		AECOM		5.750		10/15/22		1,311
	4,875,000		AECOM		5.875		10/15/24		5,180
	7,175,000		Air Lease Corp		3.875		04/01/21		7,437
	10,275,000	g	Daimler Finance North America LLC		2.000		07/06/21		9,993
	13,800,000	g	Daimler Finance North America LLC		2.200		10/30/21		13,496
	3,250,000		Equifax, Inc		3.250		06/01/26		3,143
	10,290,000		Republic Services, Inc		3.800		05/15/18		10,514
	11,102,000		Republic Services, Inc		3.550		06/01/22		11,514
	6,625,000		Republic Services, Inc		3.200		03/15/25		6,600
	4,721,000		Republic Services, Inc		2.900		07/01/26		4,560
	2,000,000		United Rentals North America, Inc		4.625		07/15/23		2,060
	9,650,000		Waste Management, Inc		2.900		09/15/22		9,815
	6,725,000		Waste Management, Inc		2.400		05/15/23		6,603
	2,000,000		Waste Management, Inc		3.900		03/01/35		1,990
	2,225,000		Waste Management, Inc		4.100		03/01/45		2,230
EUR	850,000	g	XPO Logistics, Inc		5.750		06/15/21		948
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						97,394
CONSUMER DURABLES & APPAREL - 0.2%
$	3,000,000		Lennar Corp		4.500		11/15/19		3,086
	3,000,000		Lennar Corp		4.750		04/01/21		3,128
	3,850,000		Newell Rubbermaid, Inc		3.150		04/01/21		3,938
	2,875,000		Newell Rubbermaid, Inc		3.900		11/01/25		2,948
	6,175,000		Newell Rubbermaid, Inc		4.200		04/01/26		6,426
	500,000		PulteGroup, Inc		4.250		03/01/21		514
	1,000,000		PulteGroup, Inc		5.500		03/01/26		1,035
	6,900,000		PVH Corp		4.500		12/15/22		6,969
	2,625,000		Whirlpool Corp		3.700		03/01/23		2,703
EUR	1,125,000		Whirlpool Finance Luxembourg Sarl		1.250		11/02/26		1,190
			TOTAL CONSUMER DURABLES & APPAREL						31,937

312

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
CONSUMER SERVICES - 1.2%
$	1,425,000		ADT Corp		6.250	%	10/15/21	$	1,549
	1,390,000		ADT Corp		3.500		07/15/22		1,331
	11,000,000		Amherst College		4.100		11/01/45		11,289
EUR	430,000	g	Aramark International Finance Sarl		3.125		04/01/25		465
$	2,500,000	g	Aramark Services, Inc		5.000		04/01/25		2,575
	2,000,000		Aramark Services, Inc		4.750		06/01/26		2,012
	3,400,000	g	Arcos Dorados Holdings, Inc		5.875		04/04/27		3,427
	2,000,000		Duke University		3.199		10/01/38		1,820
	16,570,000		Duke University		3.299		10/01/46		14,679
	16,000,000		George Washington University		3.545		09/15/46		14,178
	1,000,000	g	Hilton Domestic Operating Co, Inc		4.250		09/01/24		987
	2,250,000	g	Hilton Worldwide Finance LLC		4.625		04/01/25		2,272
	1,840,000	g	International Game Technology		5.625		02/15/20		1,923
	1,610,000	g	International Game Technology		6.250		02/15/22		1,719
	1,610,000	g	International Game Technology		6.500		02/15/25		1,715
EUR	1,250,000		International Game Technology plc		4.750		02/15/23		1,439
$	5,000,000		Johns Hopkins University		4.083		07/01/53		5,121
	250,000		MGM Resorts International		4.625		09/01/26		242
	8,000,000		President and Fellows of Harvard College		3.529		10/01/31		8,053
	14,250,000		President and Fellows of Harvard College		3.619		10/01/37		14,253
	10,000,000		Princeton University		3.840		07/01/48		10,294
	5,000,000		Scientific Games International, Inc		6.250		09/01/20		4,738
	6,475,000		Service Corp International		5.375		05/15/24		6,736
	3,600,000	g	ServiceMaster Co LLC		5.125		11/15/24		3,690
	15,000,000		Smith College		4.620		07/01/45		16,799
	1,650,000		Trinity Acquisition plc		4.400		03/15/26		1,691
	6,600,000		Trustees of Dartmouth College		3.474		06/01/46		6,232
	21,000,000		University of Chicago		4.151		10/01/45		21,054
			TOTAL CONSUMER SERVICES						162,283
DIVERSIFIED FINANCIALS - 4.1%
	625,000		AerCap Ireland Capital Ltd		4.625		10/30/20		660
	500,000		AerCap Ireland Capital Ltd		5.000		10/01/21		535
	2,800,000		Aircastle Ltd		4.125		05/01/24		2,804
	2,000,000		American Express Centurion Bank		6.000		09/13/17		2,040
	13,050,000		American Express Credit Corp		2.700		03/03/22		13,037
	3,800,000	g,i	Banco Mercantil del Norte S.A.		5.750		10/04/31		3,719
	6,250,000	i	Bank of New York Mellon Corp (Step Bond)		1.969		06/20/17		6,258
	4,125,000		Bank of New York Mellon Corp		5.450		05/15/19		4,427
	400,000		Bank of New York Mellon Corp		4.150		02/01/21		425
	10,500,000		Bank of New York Mellon Corp		2.500		04/15/21		10,527
	11,550,000	g	Bayer US Finance LLC		2.375		10/08/19		11,628
	8,100,000	g	Bayer US Finance LLC		3.375		10/08/24		8,141
	5,000,000	g	BBVA Bancomer S.A.		6.750		09/30/22		5,600
	300,000	g,i	BBVA Bancomer S.A.		5.350		11/12/29		296
	10,525,000		Berkshire Hathaway, Inc		3.125		03/15/26		10,514
EUR	1,000,000		BHP Billiton Finance Ltd		0.750		10/28/22		1,078
$	9,800,000		Capital One Financial Corp		3.050		03/09/22		9,786
	9,800,000		Capital One Financial Corp		3.750		03/09/27		9,740
	7,175,000		Credit Suisse		2.300		05/28/19		7,200
	7,175,000	g	Credit Suisse Group AG.		3.574		01/09/23		7,161
	3,900,000	g	Credit Suisse Group AG.		4.282		01/09/28		3,881

313

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
EUR	1,250,000		Credit Suisse Group Funding Guernsey Ltd		1.250	%	04/14/22	$	1,352
$	7,700,000		Credit Suisse Group Funding Guernsey Ltd		3.800		06/09/23		7,728
	10,250,000		Credit Suisse Group Funding Guernsey Ltd		3.750		03/26/25		10,083
	3,340,000		Ford Motor Credit Co LLC		6.625		08/15/17		3,400
	6,600,000		Ford Motor Credit Co LLC		2.375		03/12/19		6,623
	13,600,000		Ford Motor Credit Co LLC		3.157		08/04/20		13,820
	16,975,000		Ford Motor Credit Co LLC		3.200		01/15/21		17,155
	35,825,000		Ford Motor Credit Co LLC		4.134		08/04/25		35,996
	5,228,000		GE Capital International Funding Co		4.418		11/15/35		5,521
	1,432,000		General Electric Capital Corp		5.875		01/14/38		1,806
	108,000		General Electric Capital Corp		6.875		01/10/39		153
	4,911,000		General Motors Financial Co, Inc		3.500		07/10/19		5,045
	3,158,000		General Motors Financial Co, Inc		3.200		07/13/20		3,212
	11,725,000		General Motors Financial Co, Inc		4.200		03/01/21		12,238
	17,625,000		General Motors Financial Co, Inc		3.200		07/06/21		17,690
	3,900,000		General Motors Financial Co, Inc		4.375		09/25/21		4,101
	5,000,000		General Motors Financial Co, Inc		3.450		04/10/22		5,024
	5,400,000		General Motors Financial Co, Inc		3.700		05/09/23		5,441
	500,000		General Motors Financial Co, Inc		4.300		07/13/25		508
EUR	1,250,000		General Motors Financial International BV		1.875		10/15/19		1,387
$	11,075,000		Goldman Sachs Group, Inc		2.375		01/22/18		11,136
EUR	700,000		Goldman Sachs Group, Inc		2.000		07/27/23		791
$	13,575,000		Goldman Sachs Group, Inc		3.500		01/23/25		13,522
	7,675,000		Goldman Sachs Group, Inc		4.800		07/08/44		8,116
	100,000		Goldman Sachs Group, Inc		5.150		05/22/45		105
	14,925,000		Goldman Sachs Group, Inc		4.750		10/21/45		15,742
	3,800,000	g	GrupoSura Finance S.A.		5.500		04/29/26		4,009
	1,725,000		Icahn Enterprises LP		5.875		02/01/22		1,751
	2,000,000	g	ICICI Bank Ltd		3.500		03/18/20		2,034
	2,000,000		ICICI Bank Ltd		3.125		08/12/20		2,019
	550,000		Intercontinental Exchange, Inc		2.750		12/01/20		559
	8,400,000		International Lease Finance Corp		3.875		04/15/18		8,564
	3,200,000		International Lease Finance Corp		5.875		04/01/19		3,410
	5,000,000		International Lease Finance Corp		5.875		08/15/22		5,562
	250,000		Jefferies Group, Inc		6.450		06/08/27		283
	1,625,000		Legg Mason, Inc		2.700		07/15/19		1,641
	2,400,000		Legg Mason, Inc		3.950		07/15/24		2,426
EUR	850,000	g	Lincoln Finance Ltd		6.875		04/15/21		969
$	425,000	g	LUKOIL International Finance BV		6.125		11/09/20		465
	2,050,000	g	LUKOIL International Finance BV		4.563		04/24/23		2,105
	2,975,000	g	LUKOIL International Finance BV		4.750		11/02/26		3,021
	21,500,000		Morgan Stanley		1.875		01/05/18		21,533
	24,800,000		Morgan Stanley		3.700		10/23/24		25,156
	23,475,000		Morgan Stanley		3.125		07/27/26		22,424
	8,225,000		Morgan Stanley		3.625		01/20/27		8,161
	300,000		Morgan Stanley		4.300		01/27/45		297
	3,800,000		National Rural Utilities Cooperative Finance Corp		10.375		11/01/18		4,303
	6,500,000	g	Nederlandse Waterschapsbank NV		1.875		03/13/19		6,527
	5,000,000	g	Nederlandse Waterschapsbank NV		1.875		04/14/22		4,883
	100,000	g	Park Aerospace Holdings Ltd		5.250		08/15/22		104
	100,000	g	Park Aerospace Holdings Ltd		5.500		02/15/24		104
	100,000		State Street Corp		4.375		03/07/21		107
	39,082,580		Tagua Leasing LLC		1.900		07/12/24		38,423
	2,000,000	g	Three Gorges Finance I Cayman Islands Ltd		2.300		06/02/21		1,961

314

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	6,800,000	g	UBS Group Funding Jersey Ltd		2.950	%	09/24/20	$	6,844
	11,600,000	g	UBS Group Funding Jersey Ltd		2.650		02/01/22		11,370
	21,000,000		Wells Fargo & Co		2.100		07/26/21		20,584
	10,825,000		Wells Fargo & Co		3.069		01/24/23		10,871
EUR	500,000		Wells Fargo & Co		1.375		10/26/26		532
$	150,000		Wells Fargo & Co		3.900		05/01/45		144
			TOTAL DIVERSIFIED FINANCIALS						550,298
ENERGY - 3.0%
	2,375,000		AmeriGas Partners LP		5.625		05/20/24		2,387
	2,050,000		AmeriGas Partners LP		5.875		08/20/26		2,040
	8,900,000		Anadarko Petroleum Corp		4.850		03/15/21		9,520
	4,200,000		Anadarko Petroleum Corp		5.550		03/15/26		4,661
	3,600,000		Apache Corp		3.250		04/15/22		3,618
	6,650,000		Ashland, Inc		4.750		08/15/22		6,883
	16,500,000		BP Capital Markets plc		1.375		05/10/18		16,455
	13,300,000		BP Capital Markets plc		2.315		02/13/20		13,410
	699,000	g	California Resources Corp		8.000		12/15/22		570
	478,000		California Resources Corp		6.000		11/15/24		335
	5,520,000		Canadian Natural Resources Ltd		3.900		02/01/25		5,564
	500,000		Cimarex Energy Co		5.875		05/01/22		515
	8,395,000		Cimarex Energy Co		4.375		06/01/24		8,720
	5,475,000		Concho Resources, Inc		5.500		04/01/23		5,650
	2,375,000	g	Crestwood Midstream Partners LP		5.750		04/01/25		2,425
	6,875,000		Devon Energy Corp		4.750		05/15/42		6,620
	3,300,000		Devon Energy Corp		5.000		06/15/45		3,310
	1,750,000		Dynegy, Inc		6.750		11/01/19		1,798
	5,800,000		Ecopetrol S.A.		5.375		06/26/26		5,932
	450,000		El Paso Pipeline Partners Operating Co LLC		4.700		11/01/42		408
	3,250,000		Enbridge Energy Partners LP		5.200		03/15/20		3,476
	3,375,000		Enbridge Energy Partners LP		4.375		10/15/20		3,557
	6,800,000		Enbridge Energy Partners LP		5.875		10/15/25		7,600
	5,475,000		EnCana Corp		3.900		11/15/21		5,593
	3,525,000		Enterprise Products Operating LLC		2.850		04/15/21		3,540
	10,450,000		Enterprise Products Operating LLC		3.750		02/15/25		10,509
	4,775,000		Enterprise Products Operating LLC		4.450		02/15/43		4,518
	7,500,000		Enterprise Products Operating LLC		5.100		02/15/45		7,831
	5,150,000		EOG Resources, Inc		4.150		01/15/26		5,380
	2,250,000		Exterran Partners LP		6.000		10/01/22		2,216
	4,750,000		Exxon Mobil Corp		2.222		03/01/21		4,759
	1,250,000		Ferrellgas Partners LP		6.500		05/01/21		1,187
	750,000		Ferrellgas Partners LP		6.750		01/15/22		709
	2,739,000		Husky Energy, Inc		3.950		04/15/22		2,837
	4,000,000		Husky Energy, Inc		4.000		04/15/24		4,061
	1,400,000		Magellan Midstream Partners LP		4.250		09/15/46		1,311
	5,030,000		Marathon Oil Corp		2.700		06/01/20		4,994
	4,075,000		Marathon Petroleum Corp		3.625		09/15/24		4,012
	2,625,000		Noble Energy, Inc		5.625		05/01/21		2,704
	900,000		Noble Energy, Inc		3.900		11/15/24		912
	1,850,000		Noble Energy, Inc		5.250		11/15/43		1,924
	2,000,000		NRG Energy, Inc		6.250		05/01/24		1,994
	10,850,000		ONE Gas, Inc		2.070		02/01/19		10,889
	3,500,000		ONE Gas, Inc		3.610		02/01/24		3,611

315

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,500,000	g	Pertamina Persero PT		4.875	%	05/03/22	$	3,711
	2,125,000	g	Pertamina Persero PT		4.300		05/20/23		2,194
	2,000,000		Petrobras Global Finance BV		8.375		05/23/21		2,262
	7,340,000		Petrobras Global Finance BV		6.125		01/17/22		7,696
	1,500,000		Petrobras Global Finance BV		8.750		05/23/26		1,736
	3,400,000		Petroleos Mexicanos		5.500		02/04/19		3,570
	6,750,000		Petroleos Mexicanos		6.375		02/04/21		7,322
	1,500,000		Petroleos Mexicanos		4.875		01/24/22		1,543
	225,000	g	Petroleos Mexicanos		5.375		03/13/22		236
EUR	375,000		Petroleos Mexicanos		1.875		04/21/22		387
$	12,000,000		Petroleos Mexicanos		1.950		12/20/22		11,903
	6,420,000		Petroleos Mexicanos		2.000		12/20/22		6,373
	9,000,000		Petroleos Mexicanos		3.500		01/30/23		8,576
	3,900,000		Petroleos Mexicanos		4.500		01/23/26		3,738
	1,800,000		Petroleos Mexicanos		6.875		08/04/26		1,998
	1,775,000	g	Petroleos Mexicanos		6.500		03/13/27		1,909
	4,500,000		Petroleos Mexicanos		6.500		06/02/41		4,455
	4,180,000		Petroleos Mexicanos		5.500		06/27/44		3,689
	1,400,000		Petroleos Mexicanos		5.625		01/23/46		1,247
	1,800,000		Petroleos Mexicanos		6.750		09/21/47		1,827
	5,225,000		Phillips 66		4.875		11/15/44		5,246
	614,000		Pioneer Natural Resources Co		7.500		01/15/20		695
	8,675,000		Pioneer Natural Resources Co		3.450		01/15/21		8,880
	6,850,000		Pioneer Natural Resources Co		4.450		01/15/26		7,209
	5,725,000		Plains All American Pipeline LP		3.600		11/01/24		5,541
	1,250,000		Plains All American Pipeline LP		4.500		12/15/26		1,275
	2,940,000		QEP Resources, Inc		5.375		10/01/22		2,896
	1,250,000		Questar Market Resources, Inc		6.875		03/01/21		1,328
	1,200,000	g	Raizen Fuels Finance S.A.		5.300		01/20/27		1,216
	3,335,000	g	Range Resources Corp		5.000		08/15/22		3,302
	1,200,000		Regency Energy Partners LP		4.500		11/01/23		1,231
	2,000,000	g	Reliance Holdings USA		4.500		10/19/20		2,121
	2,375,000	g	Reliance Holdings USA		5.400		02/14/22		2,591
	9,875,000	g	Sabine Pass Liquefaction LLC		4.200		03/15/28		9,725
	6,000,000		Shell International Finance BV		2.375		08/21/22		5,898
	4,875,000		Shell International Finance BV		3.250		05/11/25		4,922
EUR	750,000		Shell International Finance BV		1.875		09/15/25		863
$	6,825,000		Shell International Finance BV		4.000		05/10/46		6,561
	2,075,000		Statoil ASA		1.200		01/17/18		2,070
	5,300,000		Statoil ASA		2.450		01/17/23		5,225
	250,000		Suncor Energy, Inc		3.600		12/01/24		253
	10,800,000		Sunoco Logistics Partners Operations LP		5.350		05/15/45		10,529
	600,000	g	Targa Resources Partners LP		5.125		02/01/25		618
	2,000,000		Tesoro Corp		5.125		04/01/24		2,080
	8,000,000	g	Tesoro Corp		5.125		12/15/26		8,392
EUR	1,000,000		Total Capital International S.A.		2.500		03/25/26		1,209
$	3,400,000		TransCanada PipeLines Ltd		5.850		03/15/36		4,035
	2,750,000	i	TransCanada PipeLines Ltd		6.350		05/15/67		2,561
	2,500,000		Vale Overseas Ltd		6.250		08/10/26		2,716
	2,760,000		Vale Overseas Ltd		6.875		11/21/36		2,967
	350,000		WPX Energy, Inc		8.250		08/01/23		389
	2,400,000		WPX Energy, Inc		5.250		09/15/24		2,322
	400,000	g	YPF S.A.		8.500		03/23/21		438
	3,500,000	g	YPF S.A.		8.500		07/28/25		3,796
			TOTAL ENERGY						398,417

316

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
FOOD & STAPLES RETAILING - 0.9%
$	2,000,000	g	CK Hutchison International 16 Ltd		1.875	%	10/03/21	$	1,926
	3,300,000	g	CK Hutchison International 16 Ltd		2.750		10/03/26		3,120
	19,700,000		CVS Health Corp		2.800		07/20/20		20,028
	15,925,000		CVS Health Corp		2.125		06/01/21		15,619
	19,030,000		CVS Health Corp		3.875		07/20/25		19,606
	15,950,000		CVS Health Corp		2.875		06/01/26		15,210
	150,000		CVS Health Corp		5.125		07/20/45		165
	4,900,000		Ingles Markets, Inc		5.750		06/15/23		4,937
	2,275,000		SYSCO Corp		2.500		07/15/21		2,267
EUR	1,000,000		SYSCO Corp		1.250		06/23/23		1,082
$	8,250,000		Walgreen Co		4.400		09/15/42		7,944
	10,750,000		Walgreens Boots Alliance, Inc		2.700		11/18/19		10,893
	6,575,000		Walgreens Boots Alliance, Inc		2.600		06/01/21		6,582
	11,775,000		Walgreens Boots Alliance, Inc		3.800		11/18/24		12,015
	5,125,000		Walgreens Boots Alliance, Inc		3.450		06/01/26		4,996
	1,475,000		Walgreens Boots Alliance, Inc		4.650		06/01/46		1,467
			TOTAL FOOD & STAPLES RETAILING						127,857
FOOD, BEVERAGE & TOBACCO - 1.0%
	4,916,000	g	Anadolu Efes Biracilik Ve Malt Sanayii AS.		3.375		11/01/22		4,527
	13,700,000		Anheuser-Busch InBev Finance, Inc		2.650		02/01/21		13,802
	10,275,000		Anheuser-Busch InBev Finance, Inc		3.300		02/01/23		10,456
	18,175,000		Anheuser-Busch InBev Finance, Inc		3.650		02/01/26		18,377
	10,450,000		Anheuser-Busch InBev Finance, Inc		4.900		02/01/46		11,283
	14,775,000		Anheuser-Busch InBev Worldwide, Inc		2.500		07/15/22		14,601
	5,575,000		Anheuser-Busch InBev Worldwide, Inc		4.950		01/15/42		6,014
EUR	1,250,000		BAT Netherlands Finance BV		2.375		01/19/23		1,447
$	3,000,000	g	Corp Lindley S.A.		4.625		04/12/23		3,090
	2,000,000	g	Embotelladora Andina S.A.		5.000		10/01/23		2,160
EUR	1,250,000		Heineken NV		2.875		08/04/25		1,517
$	8,425,000	g	Heineken NV		3.500		01/29/28		8,469
	3,600,000	g	Heineken NV		4.350		03/29/47		3,607
	150,000		JM Smucker Co		4.375		03/15/45		150
	200,000		Kraft Heinz Foods Co		5.200		07/15/45		207
	213,000	g	Lamb Weston Holdings, Inc		4.625		11/01/24		217
	210,000	g	Lamb Weston Holdings, Inc		4.875		11/01/26		214
	4,115,000		Mead Johnson Nutrition Co		4.900		11/01/19		4,397
	3,650,000		Mead Johnson Nutrition Co		3.000		11/15/20		3,720
	18,075,000		PepsiCo, Inc		3.450		10/06/46		16,348
	6,850,000	g	Pernod-Ricard S.A.		4.250		07/15/22		7,235
	1,600,000		Philip Morris International, Inc		6.375		05/16/38		2,032
			TOTAL FOOD, BEVERAGE & TOBACCO						133,870
HEALTH CARE EQUIPMENT & SERVICES - 0.8%
	400,000		Becton Dickinson & Co		4.685		12/15/44		417
	1,175,000		CHS/Community Health Systems		6.250		03/31/23		1,199
	3,800,000		Covidien International Finance S.A.		3.200		06/15/22		3,884
	7,375,000		Express Scripts Holding Co		3.500		06/15/24		7,263
	20,975,000		Express Scripts Holding Co		3.400		03/01/27		19,753
	2,060,000		HCA, Inc		6.500		02/15/20		2,254

317

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	4,575,000		HCA, Inc		5.875	%	03/15/22	$	5,033
	2,500,000		HCA, Inc		4.500		02/15/27		2,500
	6,055,000		Johns Hopkins Health System Corp		3.837		05/15/46		5,922
	200,000		Laboratory Corp of America Holdings		3.600		02/01/25		198
EUR	500,000		McKesson Corp		1.500		11/17/25		538
GBP	250,000		McKesson Corp		3.125		02/17/29		323
$	10,450,000		McKesson Corp		4.883		03/15/44		10,785
	9,625,000		Medtronic, Inc		4.625		03/15/45		10,338
	5,000,000		New York and Presbyterian Hospital		3.563		08/01/36		4,671
	2,000,000		Tenet Healthcare Corp		4.375		10/01/21		2,000
	2,700,000		Thermo Fisher Scientific, Inc		2.400		02/01/19		2,723
	3,100,000		Thermo Fisher Scientific, Inc		3.300		02/15/22		3,161
	4,325,000		Thermo Fisher Scientific, Inc		3.150		01/15/23		4,333
	4,000,000		Thermo Fisher Scientific, Inc		2.950		09/19/26		3,808
	10,995,000		Zimmer Holdings, Inc		3.550		04/01/25		10,871
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						101,974
HOUSEHOLD & PERSONAL PRODUCTS - 0.1%
	7,175,000		Clorox Co		3.800		11/15/21		7,538
	4,900,000		Clorox Co		3.500		12/15/24		5,058
	4,525,000		Ecolab, Inc		1.450		12/08/17		4,520
	1,300,000		Ecolab, Inc		3.700		11/01/46		1,178
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						18,294
INSURANCE - 1.4%
	5,475,000		ACE INA Holdings, Inc		3.350		05/03/26		5,538
	350,000		ACE INA Holdings, Inc		4.350		11/03/45		368
	150,000		Aetna, Inc		4.125		06/01/21		159
	1,925,000		Aetna, Inc		6.625		06/15/36		2,514
	3,250,000		Aetna, Inc		4.125		11/15/42		3,197
	6,200,000		Allstate Corp		3.150		06/15/23		6,299
	2,700,000		American Financial Group, Inc		3.500		08/15/26		2,621
	7,825,000		American International Group, Inc		2.300		07/16/19		7,853
	11,850,000		American International Group, Inc		3.300		03/01/21		12,091
	2,500,000		American International Group, Inc		3.750		07/10/25		2,486
	5,500,000		Aon plc		3.500		06/14/24		5,491
	2,825,000		Aon plc		3.875		12/15/25		2,875
	100,000		Berkshire Hathaway Finance Corp		4.300		05/15/43		103
	19,230,000		Children’s Hospital Medic		4.268		05/15/44		19,828
	3,750,000		Chubb Corp		6.000		05/11/37		4,749
	1,390,000		Cigna Corp		5.125		06/15/20		1,507
	6,900,000		Cigna Corp		4.500		03/15/21		7,366
	3,525,000		CNA Financial Corp		3.950		05/15/24		3,617
	5,575,000	g	Five Corners Funding Trust		4.419		11/15/23		5,926
	4,900,000		Humana, Inc		3.850		10/01/24		5,016
	2,750,000		Humana, Inc		3.950		03/15/27		2,811
	3,300,000	g	Liberty Mutual Group, Inc		4.250		06/15/23		3,465
EUR	1,250,000		Liberty Mutual Group, Inc		2.750		05/04/26		1,419
$	500,000		Marsh & McLennan Cos, Inc		4.800		07/15/21		541
	7,300,000		Marsh & McLennan Cos, Inc		2.750		01/30/22		7,340
	1,600,000		Marsh & McLennan Cos, Inc		3.500		06/03/24		1,633
	1,365,000		Marsh & McLennan Cos, Inc		3.500		03/10/25		1,384
	3,225,000		Mercury General Corp		4.400		03/15/27		3,215
	4,325,000		Principal Financial Group, Inc		3.100		11/15/26		4,211

318

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	500,000		Progressive Corp		3.750	%	08/23/21	$	528
	8,050,000		Prudential Financial, Inc		7.375		06/15/19		8,974
	150,000		Prudential Financial, Inc		4.600		05/15/44		158
	3,000,000	g	Prudential Funding LLC		6.750		09/15/23		3,555
	2,425,000	g	Swiss Re Treasury US Corp		2.875		12/06/22		2,395
	4,250,000		Travelers Cos, Inc		5.800		05/15/18		4,447
	1,350,000		Travelers Cos, Inc		3.750		05/15/46		1,279
	6,650,000		UnitedHealth Group, Inc		3.750		07/15/25		6,944
	3,050,000		UnitedHealth Group, Inc		3.100		03/15/26		3,021
	4,675,000		UnitedHealth Group, Inc		3.450		01/15/27		4,741
	200,000		UnitedHealth Group, Inc		4.625		07/15/35		218
	13,075,000		UnitedHealth Group, Inc		4.250		04/15/47		13,366
	6,750,000		WellPoint, Inc		3.125		05/15/22		6,784
	500,000		Willis Group Holdings plc		5.750		03/15/21		549
	2,400,000		WR Berkley Corp		5.375		09/15/20		2,618
			TOTAL INSURANCE						185,200
MATERIALS - 1.4%
	4,875,000		Agrium, Inc		3.375		03/15/25		4,811
	2,925,000		Agrium, Inc		4.125		03/15/35		2,802
	11,200,000	g	Air Liquide Finance S.A.		1.750		09/27/21		10,804
	6,630,000		Air Products & Chemicals, Inc		4.375		08/21/19		7,027
	3,349,000		Albemarle Corp		5.450		12/01/44		3,707
	675,000		Alcoa, Inc		5.125		10/01/24		697
EUR	850,000		Axalta Coating Systems Dutch Holding BV		3.750		01/15/25		952
$	1,365,000		Ball Corp		5.000		03/15/22		1,440
EUR	250,000		Ball Corp		4.375		12/15/23		295
$	1,825,000		Barrick Gold Corp		3.850		04/01/22		1,911
	1,500,000		Barrick Gold Corp		4.100		05/01/23		1,608
	4,392,000		BHP Billiton Finance USA Ltd		5.000		09/30/43		4,930
	2,500,000		Blue Cube Spinco, Inc		9.750		10/15/23		2,994
	1,425,000		Blue Cube Spinco, Inc		10.000		10/15/25		1,721
	1,300,000		Celulosa Arauco y Constitucion S.A.		4.500		08/01/24		1,333
	1,475,000	g	Cemex SAB de C.V.		7.750		04/16/26		1,660
	3,550,000		Corning, Inc		1.450		11/15/17		3,547
	2,275,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.875		11/03/21		2,383
	2,375,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.000		07/17/22		2,385
	3,900,000	g	Corp Nacional del Cobre de Chile-CODELCO		4.500		09/16/25		4,106
	1,390,000		Crown Americas LLC		4.500		01/15/23		1,421
	1,875,000	g	Crown Americas LLC		4.250		09/30/26		1,804
	1,000,000		Eastman Chemical Co		5.500		11/15/19		1,083
	200,000		EI du Pont de Nemours & Co		2.800		02/15/23		198
	1,100,000	g	Eldorado Gold Corp		6.125		12/15/20		1,128
	3,060,000		Fibria Overseas Finance Ltd		5.500		01/17/27		3,067
	8,775,000	g	Georgia-Pacific LLC		2.539		11/15/19		8,844
	1,275,000	g	Glencore Funding LLC		4.125		05/30/23		1,299
	6,450,000	g	Glencore Funding LLC		4.625		04/29/24		6,700
	13,000,000	g	Glencore Funding LLC		4.000		03/27/27		12,824
	9,000,000		International Paper Co		3.000		02/15/27		8,412
	5,350,000	g	Inversiones CMPC S.A.		4.375		04/04/27		5,323
	3,200,000	g	Klabin Finance S.A.		5.250		07/16/24		3,219
	1,462,000		Lyondell Basell Industries NV		5.000		04/15/19		1,540
	2,400,000		Newmont Mining Corp		3.500		03/15/22		2,468

319

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	6,900,000		Newmont Mining Corp		4.875	%	03/15/42	$	6,933
	6,840,000		Nucor Corp		4.000		08/01/23		7,230
	1,350,000		Olin Corp		5.125		09/15/27		1,373
	2,860,000	g	Owens-Brockway Glass Container, Inc		5.375		01/15/25		2,903
	3,150,000		Packaging Corp of America		3.650		09/15/24		3,177
	3,575,000		Potash Corp of Saskatchewan, Inc		3.625		03/15/24		3,592
	159,000		Rio Tinto Finance USA Ltd		3.750		09/20/21		167
	600,000		Rio Tinto Finance USA plc		3.500		03/22/22		625
	5,000,000		Rock Tenn Co		3.500		03/01/20		5,131
	3,000,000		Rock Tenn Co		4.000		03/01/23		3,096
	6,625,000		RPM International, Inc		3.750		03/15/27		6,621
	625,000		RPM International, Inc		5.250		06/01/45		677
	1,370,000	g	Sealed Air Corp		5.250		04/01/23		1,439
	2,300,000	g	Severstal OAO Via Steel Capital S.A.		3.850		08/27/21		2,303
EUR	750,000	g	Silgan Holdings, Inc		3.250		03/15/25		796
$	3,575,000	g	St. Marys Cement, Inc Canada		5.750		01/28/27		3,563
	1,675,000		Steel Dynamics, Inc		5.125		10/01/21		1,727
	1,630,000		Teck Resources Ltd		3.750		02/01/23		1,583
	3,000,000	g	Union Andina de Cementos SAA		5.875		10/30/21		3,120
	9,800,000		Vulcan Materials Co		3.900		04/01/27		9,898
			TOTAL MATERIALS						186,397
MEDIA - 1.6%
	2,105,000		21st Century Fox America, Inc		7.625		11/30/28		2,777
	1,578,000		21st Century Fox America, Inc		6.550		03/15/33		1,920
	7,375,000		21st Century Fox America, Inc		6.900		08/15/39		9,413
GBP	675,000	g	AMC Entertainment Holdings, Inc		6.375		11/15/24		906
$	6,750,000		CBS Corp		2.300		08/15/19		6,775
	4,200,000		CBS Corp		2.900		01/15/27		3,911
	11,150,000		Charter Communications Operating LLC		3.579		07/23/20		11,475
	8,295,000		Charter Communications Operating LLC		4.464		07/23/22		8,735
	22,275,000		Charter Communications Operating LLC		4.908		07/23/25		23,521
	3,500,000		Cinemark USA, Inc		4.875		06/01/23		3,537
	18,200,000		Comcast Corp		3.200		07/15/36		16,181
	1,715,000	g	CSC Holdings LLC		5.500		04/15/27		1,743
	2,430,000	g	Gannett Co, Inc		4.875		09/15/21		2,466
	2,925,000	g	Gannett Co, Inc		5.500		09/15/24		2,994
	825,000		Grupo Televisa S.A.		6.000		05/15/18		861
	2,000,000		Grupo Televisa SAB		4.625		01/30/26		2,058
	2,675,000		Grupo Televisa SAB		5.000		05/13/45		2,439
	2,000,000		Lamar Media Corp		5.000		05/01/23		2,060
	2,000,000		Lamar Media Corp		5.375		01/15/24		2,065
	7,250,000	g	NBC Universal Enterprise, Inc		1.662		04/15/18		7,258
	7,700,000	g	NBC Universal Enterprise, Inc		1.974		04/15/19		7,717
	10,350,000		NBC Universal Media LLC		2.875		01/15/23		10,377
	3,735,000		Nielsen Finance LLC		4.500		10/01/20		3,800
	4,650,000		Outfront Media Capital LLC		5.250		02/15/22		4,813
	5,675,000		Time Warner Cable, Inc		5.875		11/15/40		6,023
	4,075,000		Time Warner Cable, Inc		4.500		09/15/42		3,701
	20,550,000		Time Warner, Inc		2.100		06/01/19		20,581
	19,575,000		Time Warner, Inc		3.600		07/15/25		19,353
	5,550,000		Time Warner, Inc		3.800		02/15/27		5,489
	150,000		Time Warner, Inc		4.850		07/15/45		146
	1,600,000	g	Time, Inc		5.750		04/15/22		1,664

320

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	5,000,000		Viacom, Inc		2.250	%	02/04/22	$	4,807
	5,075,000		Viacom, Inc		3.450		10/04/26		4,816
	675,000	g	Virgin Media Secured Finance plc		5.500		01/15/25		688
	5,775,000		Walt Disney Co		2.450		03/04/22		5,788
			TOTAL MEDIA						212,858
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.9%
	4,750,000		Abbott Laboratories		3.875		09/15/25		4,813
	19,450,000		Abbott Laboratories		3.750		11/30/26		19,423
	2,250,000		Abbott Laboratories		5.300		05/27/40		2,417
	16,950,000		AbbVie, Inc		2.500		05/14/20		17,064
	15,250,000		AbbVie, Inc		3.200		05/14/26		14,658
	33,025,000		Actavis Funding SCS		3.800		03/15/25		33,261
	9,500,000		Actavis Funding SCS		4.550		03/15/35		9,524
	400,000		Actavis Funding SCS		4.750		03/15/45		403
	5,200,000		Amgen, Inc		1.850		08/19/21		5,050
	8,600,000		Amgen, Inc		2.600		08/19/26		7,971
	7,500,000		Biogen, Inc		2.900		09/15/20		7,633
	9,775,000		Bristol-Myers Squibb Co		3.250		02/27/27		9,752
	7,450,000		Celgene Corp		2.875		08/15/20		7,563
	11,575,000		Celgene Corp		3.875		08/15/25		11,830
	9,850,000		Gilead Sciences, Inc		3.650		03/01/26		9,926
	8,675,000		Gilead Sciences, Inc		2.950		03/01/27		8,225
	200,000		Gilead Sciences, Inc		4.750		03/01/46		204
	9,375,000		Johnson & Johnson		2.950		03/03/27		9,373
	3,750,000		Johnson & Johnson		3.625		03/03/37		3,725
	4,100,000		Mylan NV		3.750		12/15/20		4,205
	7,225,000		Mylan NV		3.950		06/15/26		7,071
	19,225,000		Novartis Capital Corp		3.100		05/17/27		19,117
	6,850,000		Novartis Capital Corp		4.000		11/20/45		6,880
	500,000		Perrigo Finance plc		3.900		12/15/24		498
	2,850,000		Perrigo Finance plc		4.900		12/15/44		2,774
	8,225,000		Pfizer, Inc		4.125		12/15/46		8,230
	8,275,000	g	Roche Holdings, Inc		2.375		01/28/27		7,793
	1,650,000		Teva Pharmaceutical Finance Netherlands III BV		2.200		07/21/21		1,588
	9,825,000		Teva Pharmaceutical Finance Netherlands III BV		3.150		10/01/26		9,053
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						250,024
REAL ESTATE - 1.5%
	1,675,000		Alexandria Real Estate Equities, Inc		3.950		01/15/27		1,674
	2,300,000		Alexandria Real Estate Equities, Inc		3.950		01/15/28		2,293
	10,300,000		American Tower Corp		3.300		02/15/21		10,444
	4,350,000		American Tower Corp		3.500		01/31/23		4,375
EUR	750,000		American Tower Corp		1.375		04/04/25		793
$	2,418,000		American Tower Corp		4.400		02/15/26		2,501
	4,125,000		American Tower Corp		3.375		10/15/26		3,932
	3,525,000		AvalonBay Communities, Inc		2.900		10/15/26		3,354
	1,825,000		AvalonBay Communities, Inc		3.900		10/15/46		1,704
	300,000		Boston Properties LP		4.125		05/15/21		315
	5,575,000		Brandywine Operating Partnership LP		4.100		10/01/24		5,559
	4,500,000		Brixmor Operating Partnership LP		3.875		08/15/22		4,607
	5,800,000		Brixmor Operating Partnership LP		3.250		09/15/23		5,665
	5,825,000		Brixmor Operating Partnership LP		3.850		02/01/25		5,748

321

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,650,000		Brixmor Operating Partnership LP		4.125	%	06/15/26	$	2,666
	3,965,000		Camden Property Trust		4.625		06/15/21		4,227
	3,000,000		Camden Property Trust		2.950		12/15/22		2,954
	4,825,000		Crown Castle International Corp		2.250		09/01/21		4,690
	3,911,000		Crown Castle International Corp		4.875		04/15/22		4,207
	5,175,000		DCT Industrial Operating Partnership LP		4.500		10/15/23		5,422
	3,450,000		DDR Corp		3.625		02/01/25		3,319
	3,250,000		DDR Corp		4.250		02/01/26		3,230
	6,800,000		Developers Diversified Realty Corp		4.750		04/15/18		6,954
	3,460,000		Developers Diversified Realty Corp		7.875		09/01/20		4,002
	1,600,000		Duke Realty LP		3.250		06/30/26		1,551
	1,250,000		Equinix, Inc		5.375		01/01/22		1,316
	2,750,000		Equity One, Inc		3.750		11/15/22		2,828
	210,000		ERP Operating LP		4.625		12/15/21		226
	2,754,000		Essex Portfolio LP		3.375		01/15/23		2,758
	500,000		HCP, Inc		5.375		02/01/21		545
	2,775,000		Healthcare Realty Trust, Inc		5.750		01/15/21		3,041
	1,625,000		Healthcare Realty Trust, Inc		3.750		04/15/23		1,624
	6,600,000		Healthcare Realty Trust, Inc		3.875		05/01/25		6,536
	3,700,000		Healthcare Trust of America Holdings LP		3.375		07/15/21		3,752
	3,550,000		Healthcare Trust of America Holdings LP		3.700		04/15/23		3,559
	6,250,000		Healthcare Trust of America Holdings LP		3.500		08/01/26		6,010
	1,950,000		Highwoods Realty LP		3.875		03/01/27		1,928
	1,775,000		Host Hotels & Resorts LP		4.500		02/01/26		1,836
	2,800,000		Kimco Realty Corp		3.400		11/01/22		2,826
	2,500,000		Liberty Property LP		3.250		10/01/26		2,396
	5,224,000		Mid-America Apartments LP		4.300		10/15/23		5,512
	5,525,000		Mid-America Apartments LP		3.750		06/15/24		5,622
	4,300,000		Mid-America Apartments LP		4.000		11/15/25		4,412
	3,600,000		National Retail Properties, Inc		3.800		10/15/22		3,716
	5,425,000		National Retail Properties, Inc		3.300		04/15/23		5,424
	2,575,000		National Retail Properties, Inc		4.000		11/15/25		2,626
	3,000,000		National Retail Properties, Inc		3.600		12/15/26		2,959
	400,000		ProLogis LP		3.350		02/01/21		412
	7,225,000		Regency Centers LP		3.900		11/01/25		7,356
	1,500,000		Regency Centers LP		3.600		02/01/27		1,488
	122,000		Simon Property Group LP		4.375		03/01/21		130
	2,830,000	g	Trust F/1401		5.250		12/15/24		2,894
	450,000		Ventas Realty LP		4.125		01/15/26		456
	1,170,000		Weingarten Realty Investors		3.375		10/15/22		1,180
	4,800,000		Weingarten Realty Investors		3.500		04/15/23		4,807
	3,025,000		Weingarten Realty Investors		4.450		01/15/24		3,169
	3,950,000		Weingarten Realty Investors		3.850		06/01/25		3,956
	1,300,000		Weingarten Realty Investors		3.250		08/15/26		1,239
	13,475,000		Welltower, Inc		4.000		06/01/25		13,657
			TOTAL REAL ESTATE						208,382
RETAILING - 0.7%
	100,000		Amazon.com, Inc		4.950		12/05/44		113
	600,000		Asbury Automotive Group, Inc		6.000		12/15/24		620
	4,150,000		AutoNation, Inc		3.350		01/15/21		4,199
	4,425,000		AutoZone, Inc		3.250		04/15/25		4,330
	100,000		Best Buy Co, Inc		5.500		03/15/21		108
	6,525,000		Enable Midstream Partners LP		4.400		03/15/27		6,476

322

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	8,850,000		Home Depot, Inc		2.000	%	04/01/21	$	8,809
	8,725,000		Home Depot, Inc		3.350		09/15/25		8,972
	5,175,000		Home Depot, Inc		3.000		04/01/26		5,165
	14,125,000		Home Depot, Inc		2.125		09/15/26		13,105
	2,975,000		Home Depot, Inc		3.500		09/15/56		2,590
	3,150,000		L Brands, Inc		6.750		07/01/36		3,001
	3,150,000		Limited Brands, Inc		7.000		05/01/20		3,457
	6,600,000		Macy’s Retail Holdings, Inc		4.500		12/15/34		5,736
	7,575,000		O’Reilly Automotive, Inc		3.550		03/15/26		7,555
	5,050,000	g	Rolls-Royce plc		2.375		10/14/20		5,031
	1,850,000	g	Rolls-Royce plc		3.625		10/14/25		1,861
GBP	1,250,000		Rolls-Royce plc		3.375		06/18/26		1,715
$	5,800,000		Target Corp		2.500		04/15/26		5,420
	5,625,000		Target Corp		3.625		04/15/46		5,075
	150,000		Wal-Mart Stores, Inc		4.300		04/22/44		157
			TOTAL RETAILING						93,495
SOFTWARE & SERVICES - 0.6%
	4,175,000	g	Activision Blizzard, Inc		2.300		09/15/21		4,088
	4,350,000	g	Activision Blizzard, Inc		3.400		09/15/26		4,247
	20,350,000		Fidelity National Information Services, Inc		3.625		10/15/20		21,144
	800,000	g	IMS Health, Inc		5.000		10/15/26		803
	30,200,000		Microsoft Corp		2.400		08/08/26		28,554
	3,750,000		Microsoft Corp		4.100		02/06/37		3,856
	5,500,000		Microsoft Corp		4.250		02/06/47		5,636
	3,075,000		NCR Corp		4.625		02/15/21		3,145
	525,000		NCR Corp		5.875		12/15/21		547
	1,650,000	g	Open Text Corp		5.625		01/15/23		1,716
	13,600,000		Oracle Corp		1.900		09/15/21		13,367
			TOTAL SOFTWARE & SERVICES						87,103
TECHNOLOGY HARDWARE & EQUIPMENT - 0.8%
	3,475,000		Amphenol Corp		3.125		09/15/21		3,546
	10,450,000		Apple, Inc		3.350		02/09/27		10,548
	4,525,000		Apple, Inc		4.650		02/23/46		4,852
	8,150,000	g	Broadcom Corp		3.875		01/15/27		8,201
	19,750,000		Cisco Systems, Inc		1.850		09/20/21		19,367
	1,600,000	g	CommScope, Inc		5.000		06/15/21		1,644
	2,600,000	g	CommScope, Inc		5.500		06/15/24		2,689
	6,100,000	g	Diamond Finance Corp		3.480		06/01/19		6,253
	13,175,000	g	Diamond Finance Corp		4.420		06/15/21		13,776
	10,550,000	g	Diamond Finance Corp		6.020		06/15/26		11,523
	3,300,000		General Electric Co		5.250		12/06/17		3,384
	4,075,000		General Electric Co		4.125		10/09/42		4,156
	200,000		Koninklijke Philips NV		3.750		03/15/22		208
	6,525,000	g	Seagate HDD Cayman		4.250		03/01/22		6,460
	525,000	g	Sensata Technologies BV		5.625		11/01/24		547
	250,000	g	Sensata Technologies BV		5.000		10/01/25		252
	5,050,000		Tyco Electronics Group S.A.		2.375		12/17/18		5,095
	6,669,000		Tyco Electronics Group S.A.		3.500		02/03/22		6,871
EUR	1,000,000		Tyco Electronics Group S.A.		1.100		03/01/23		1,079
$	2,175,000		Tyco Electronics Group S.A.		3.700		02/15/26		2,222
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						112,673

323

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
TELECOMMUNICATION SERVICES - 1.5%
$	2,000,000		Alibaba Group Holding Ltd		2.500	%	11/28/19	$	2,011
	500,000		Alibaba Group Holding Ltd		3.600		11/28/24		504
EUR	1,500,000	g	Altice Luxembourg S.A.		7.250		05/15/22		1,692
$	21,350,000		AT&T, Inc		1.400		12/01/17		21,333
	8,450,000		AT&T, Inc		4.600		02/15/21		8,990
	8,800,000		AT&T, Inc		4.450		04/01/24		9,199
	27,775,000		AT&T, Inc		3.400		05/15/25		26,876
EUR	300,000		AT&T, Inc		3.500		12/17/25		373
$	9,000,000		AT&T, Inc		4.500		05/15/35		8,470
	6,525,000		AT&T, Inc		5.250		03/01/37		6,646
	200,000		AT&T, Inc		4.300		12/15/42		178
	150,000		AT&T, Inc		4.800		06/15/44		140
	4,525,000		AT&T, Inc		4.750		05/15/46		4,236
	6,525,000		AT&T, Inc		5.450		03/01/47		6,643
	4,400,000	g	Bharti Airtel International Netherlands BV		5.125		03/11/23		4,622
	17,300,000	g	Deutsche Telekom International Finance BV		1.950		09/19/21		16,710
EUR	875,000		Deutsche Telekom International Finance BV		0.625		04/03/23		932
$	4,000,000		Deutsche Telekom International Finance BV		8.750		06/15/30		5,841
	3,500,000	g	ENTEL Chile S.A.		4.875		10/30/24		3,614
	4,500,000	g	MTN Mauritius Investment Ltd		5.373		02/13/22		4,553
	3,500,000	g,q	Oi S.A.		5.750		02/10/22		1,120
	3,950,000		Orange S.A.		5.500		02/06/44		4,490
	2,125,000		Telefonica Emisiones SAU		4.103		03/08/27		2,139
	2,325,000		T-Mobile USA, Inc		6.375		03/01/25		2,505
	2,000,000	g	Turk Telekomunikasyon AS.		4.875		06/19/24		1,924
	9,275,000		Verizon Communications, Inc		3.450		03/15/21		9,526
	5,625,000		Verizon Communications, Inc		4.150		03/15/24		5,835
	30,520,000		Verizon Communications, Inc		4.272		01/15/36		28,180
	10,550,000		Verizon Communications, Inc		3.850		11/01/42		8,831
	3,350,000		Verizon Communications, Inc		4.125		08/15/46		2,890
	800,000		Verizon Communications, Inc		5.012		08/21/54		761
EUR	1,500,000	g	Virgin Media Finance plc		4.500		01/15/25		1,650
			TOTAL TELECOMMUNICATION SERVICES						203,414
TRANSPORTATION - 0.7%
$	3,300,000	g	Adani Ports & Special Economic Zone Ltd		3.950		01/19/22		3,338
	5,730,000	g	Asciano Finance Ltd		5.000		04/07/18		5,866
	4,500,000		Burlington Northern Santa Fe LLC		4.550		09/01/44		4,744
	72,000		Burlington Northern Santa Fe LLC		4.150		04/01/45		72
	6,525,000		Burlington Northern Santa Fe LLC		4.125		06/15/47		6,505
	9,200,000		Canadian Pacific Railway Co		2.900		02/01/25		9,020
	200,000		Canadian Pacific Railway Co		4.800		08/01/45		216
	150,000		CSX Corp		4.100		03/15/44		144
	15,775,000		CSX Corp		3.800		11/01/46		14,379
	9,250,000		Delta Air Lines, Inc		3.625		03/15/22		9,441
	5,375,000		FedEx Corp		3.250		04/01/26		5,326
	5,900,000		GATX Corp		5.200		03/15/44		6,020
	17,344,000		Kansas City Southern		2.350		05/15/20		17,182
	5,700,000		Kansas City Southern		4.950		08/15/45		5,733
	2,625,000		Northrop Grumman Corp		1.750		06/01/18		2,629
	6,975,000	g	Transnet SOC Ltd		4.000		07/26/22		6,679

324

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,500,000	g	TTX Co		3.600	%	01/15/25	$	3,534
			TOTAL TRANSPORTATION						100,828
UTILITIES - 4.2%
	1,650,000	g	AEP Transmission Co LLC		3.100		12/01/26		1,629
	1,650,000	g	AEP Transmission Co LLC		4.000		12/01/46		1,642
	408,000	i	AES Corp		4.055		06/01/19		408
	4,225,000		AES Corp		4.875		05/15/23		4,204
	1,500,000		AES Corp		5.500		03/15/24		1,523
	8,475,000		AGL Capital Corp		3.875		11/15/25		8,625
	2,125,000		AGL Capital Corp		4.400		06/01/43		2,089
	3,475,000		Alabama Power Co		4.150		08/15/44		3,473
	15,000,000		American Electric Power Co, Inc		1.650		12/15/17		14,996
	6,000,000		American Electric Power Co, Inc		2.950		12/15/22		6,030
	2,750,000		American Water Capital Corp		3.000		12/01/26		2,680
	2,375,000		American Water Capital Corp		4.000		12/01/46		2,409
	1,575,000	g	APT Pipelines Ltd		4.250		07/15/27		1,588
	5,500,000		Atmos Energy Corp		8.500		03/15/19		6,178
	6,225,000		Black Hills Corp		4.250		11/30/23		6,556
	1,575,000		Black Hills Corp		3.150		01/15/27		1,500
	4,750,000		Carolina Power & Light Co		5.300		01/15/19		5,048
	3,670,000		CenterPoint Energy Resources Corp		4.500		01/15/21		3,862
	3,550,000		CenterPoint Energy Resources Corp		6.250		02/01/37		4,093
	3,840,000	g	CEZ AS.		4.250		04/03/22		3,961
EUR	400,000		CEZ AS.		3.000		06/05/28		489
$	4,675,000		CMS Energy Corp		3.600		11/15/25		4,680
	3,425,000	g	Comision Federal de Electricidad		4.750		02/23/27		3,434
	4,200,000		Commonwealth Edison Co		5.900		03/15/36		5,171
	2,750,000		Connecticut Light & Power Co		5.500		02/01/19		2,925
	7,500,000		Consolidated Edison Co of New York, Inc		4.500		12/01/45		7,969
	6,800,000		Consolidated Edison Co of New York, Inc		3.850		06/15/46		6,529
	4,575,000		Consolidated Edison, Inc		2.000		05/15/21		4,494
	3,775,000		Dominion Resources, Inc		2.000		08/15/21		3,662
	5,775,000		Dominion Resources, Inc		4.700		12/01/44		5,950
	1,400,000		Duke Energy Carolinas LLC		4.300		06/15/20		1,495
	5,825,000		Duke Energy Corp		1.800		09/01/21		5,626
	8,675,000		Duke Energy Corp		2.650		09/01/26		8,050
	750,000		Duke Energy Corp		4.800		12/15/45		792
	5,950,000		Duke Energy Corp		3.750		09/01/46		5,362
	14,087,000		Duke Energy Florida Project Finance LLC		1.196		03/01/20		14,000
	5,000,000		Duke Energy Florida Project Finance LLC		1.731		09/01/22		4,854
	1,450,000		Duke Energy Ohio, Inc		3.800		09/01/23		1,528
	13,350,000	g	Electricite de France S.A.		2.350		10/13/20		13,341
	7,100,000	g,i	Electricite de France S.A.		5.625		12/30/49		6,967
	8,150,000		Energy Transfer Partners LP		4.050		03/15/25		8,072
	8,900,000		Energy Transfer Partners LP		4.750		01/15/26		9,158
	5,450,000		Energy Transfer Partners LP		5.950		10/01/43		5,641
	2,775,000		Energy Transfer Partners LP		5.150		03/15/45		2,610
	4,700,000		Enersis Americas S.A.		4.000		10/25/26		4,655
EUR	700,000		Engie S.A.		2.375		05/19/26		822
$	7,375,000		EnLink Midstream Partners LP		4.850		07/15/26		7,609
	1,675,000		EnLink Midstream Partners LP		5.050		04/01/45		1,577
	5,700,000		Entergy Corp		2.950		09/01/26		5,409

325

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,800,000	g	Equate Petrochemical BV		3.000	%	03/03/22	$	2,736
	2,450,000	g	Eskom Holdings SOC Ltd		5.750		01/26/21		2,461
	9,450,000		Exelon Generation Co LLC		3.400		03/15/22		9,526
	6,250,000	g	FirstEnergy Transmission LLC		4.350		01/15/25		6,494
	8,050,000	g	Fortis, Inc		3.055		10/04/26		7,553
	3,000,000		Georgia Power Co		5.400		06/01/40		3,344
	6,525,000		Great Plains Energy, Inc		3.900		04/01/27		6,579
	400,000	g	Hrvatska Elektroprivreda		5.875		10/23/22		423
EUR	1,000,000		Iberdrola International BV		1.125		04/21/26		1,051
$	5,000,000		Indiana Michigan Power Co		7.000		03/15/19		5,471
	2,650,000		Indiana Michigan Power Co		4.550		03/15/46		2,798
	2,725,000		Integrys Energy Group, Inc		4.170		11/01/20		2,879
	2,425,000		Interstate Power & Light Co		3.700		09/15/46		2,261
	3,000,000	g	Israel Electric Corp Ltd		5.625		06/21/18		3,116
	1,300,000	g	Israel Electric Corp Ltd		5.000		11/12/24		1,366
	1,000,000	g	Kansas Gas & Electric		6.700		06/15/19		1,098
	2,825,000		Kinder Morgan, Inc		9.000		02/01/19		3,160
EUR	1,000,000		Kinder Morgan, Inc		2.250		03/16/27		1,085
$	2,065,000		Kinder Morgan, Inc		5.300		12/01/34		2,078
	5,550,000		Kinder Morgan, Inc		5.000		03/01/43		5,267
	4,850,000		Kinder Morgan, Inc		5.400		09/01/44		4,795
	1,500,000	g	Korea Hydro & Nuclear Power Co Ltd		2.875		10/02/18		1,518
	5,000,000		LG&E and KU Energy LLC		3.750		11/15/20		5,187
	4,225,000	g	Listrindo Capital BV		4.950		09/14/26		4,119
	12,500,000		Mercy Health		3.382		11/01/25		12,239
	1,325,000		MidAmerican Energy Co		4.250		05/01/46		1,368
	4,240,000		MPLX LP		5.500		02/15/23		4,371
	6,262,000		MPLX LP		4.500		07/15/23		6,512
	3,800,000		MPLX LP		4.000		02/15/25		3,765
	3,775,000		MPLX LP		4.125		03/01/27		3,753
	3,850,000		MPLX LP		5.200		03/01/47		3,873
	2,800,000		Nevada Power Co		6.500		08/01/18		2,977
	3,335,000		Nevada Power Co		5.450		05/15/41		3,886
	168,000		NiSource Finance Corp		6.125		03/01/22		192
	3,700,000		NiSource Finance Corp		4.800		02/15/44		3,888
	3,375,000		Northeast Utilities		1.450		05/01/18		3,362
	2,000,000	g	Novolipetsk Steel via Steel Funding Ltd		4.500		06/15/23		2,033
	2,500,000		NTPC Ltd		5.625		07/14/21		2,752
	1,000,000		NTPC Ltd		4.750		10/03/22		1,067
EUR	250,000	g	OI European Group BV		3.125		11/15/24		266
$	7,100,000		Oncor Electric Delivery Co LLC		2.150		06/01/19		7,136
	1,280,000		Oncor Electric Delivery Co LLC		5.250		09/30/40		1,500
	8,170,000		Oncor Electric Delivery Co LLC		4.550		12/01/41		8,761
	3,900,000		Pacific Gas & Electric Co		8.250		10/15/18		4,270
	5,850,000		Pacific Gas & Electric Co		4.250		03/15/46		5,986
	2,750,000		Pacific Gas & Electric Co		4.000		12/01/46		2,715
	4,500,000	g	Perusahaan Gas Negara Persero Tbk PT		5.125		05/16/24		4,782
	1,750,000		Phillips 66 Partners LP		3.550		10/01/26		1,671
	1,600,000		Phillips 66 Partners LP		4.900		10/01/46		1,523
	750,000		Potomac Electric Power Co		7.900		12/15/38		1,108
	6,925,000		PPL Capital Funding, Inc		4.200		06/15/22		7,287
	2,000,000		PPL Electric Utilities Corp		3.000		09/15/21		2,048
	3,825,000		Progress Energy, Inc		7.050		03/15/19		4,178

326

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	8,800,000		Public Service Co of Oklahoma		5.150	%	12/01/19	$	9,429
	2,640,000		Public Service Electric & Gas Co		5.300		05/01/18		2,747
	2,850,000		Public Service Electric & Gas Co		3.800		03/01/46		2,815
	2,830,000	g	Rumo Luxembourg Sarl		7.375		02/09/24		2,915
	5,550,000		Sempra Energy		2.875		10/01/22		5,528
	14,950,000		Shire Acquisitions Investments Ireland DAC		3.200		09/23/26		14,275
	6,800,000		Southern Co		4.400		07/01/46		6,497
	2,000,000		Southern Co Gas Capital Corp		3.950		10/01/46		1,822
	8,250,000		Southern Power Co		2.500		12/15/21		8,062
	7,825,000		Southern Power Co		4.150		12/01/25		8,086
	2,300,000		Spectra Energy Partners LP		3.375		10/15/26		2,189
	7,150,000		Spectra Energy Partners LP		4.500		03/15/45		6,678
	5,300,000	g	Tengizchevroil Finance Co International Ltd		4.000		08/15/26		5,080
	600,000		TransAlta Corp		6.900		05/15/18		624
	3,250,000	g	Transportadora de Gas del Peru S.A.		4.250		04/30/28		3,274
	3,875,000	g	Transurban Finance Co Pty Ltd		4.125		02/02/26		3,993
	3,680,000		Virginia Electric & Power Co		2.950		01/15/22		3,749
	6,500,000		Virginia Electric & Power Co		3.500		03/15/27		6,633
	3,925,000		Virginia Electric & Power Co		4.000		11/15/46		3,860
	700,000		Western Gas Partners LP		4.000		07/01/22		719
	2,650,000		Western Gas Partners LP		3.950		06/01/25		2,623
	6,900,000		Western Gas Partners LP		4.650		07/01/26		7,106
	1,575,000		Western Gas Partners LP		5.450		04/01/44		1,618
	5,075,000		Williams Partners LP		3.600		03/15/22		5,147
	7,250,000		Williams Partners LP		4.500		11/15/23		7,587
	1,175,000		Williams Partners LP		4.900		01/15/45		1,131
	4,125,000		Wisconsin Power & Light Co		4.100		10/15/44		4,084
	2,975,000		Xcel Energy, Inc		3.350		12/01/26		2,974
	2,890,000		Xcel Energy, Inc		4.800		09/15/41		2,962
			TOTAL UTILITIES						565,206
			TOTAL CORPORATE BONDS						4,853,141
			(Cost $4,825,203)
GOVERNMENT BONDS -  43.6%
AGENCY SECURITIES - 1.4%
	10,545,801		AMAL Ltd		3.465		08/21/21		10,860
	5,500,000		Amber Circle Funding Ltd		3.250		12/04/22		5,549
	4,963,515		Export Lease Ten Co LLC		1.650		05/07/25		4,808
	14,345,000		Lutheran Medical Center		1.982		02/20/30		13,670
	10,682,587		Premier Aircraft Leasing		3.576		02/06/22		11,041
	10,000,000		Private Export Funding Corp (PEFCO)		2.250		12/15/17		10,074
	5,000,000		PEFCO		4.375		03/15/19		5,286
	7,240,000		PEFCO		1.450		08/15/19		7,215
	27,750,000		PEFCO		2.250		03/15/20		28,147
	35,000,000		PEFCO		4.300		12/15/21		38,258
	25,747,000		PEFCO		2.050		11/15/22		25,272
	1,260,938		Totem Ocean Trailer Express, Inc		4.514		12/18/19		1,300
	12,960,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		13,252
	2,694,000		US Department of Housing and Urban Development (HUD)		5.380		08/01/18		2,733
	9,640,000		Montefiore Medical Center		2.152		10/20/26		9,256
	10,500,000		Tunisia Government AID Bonds		1.416		08/05/21		10,194
			TOTAL AGENCY SECURITIES						196,915

327

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
FOREIGN GOVERNMENT BONDS - 5.5%
$	4,000,000	g	Abu Dhabi Government International Bond		3.125	%	05/03/26	$	4,000
	15,000,000		African Development Bank		1.375		12/17/18		14,983
	3,200,000	g	Argentine Republic Government International Bond		5.625		01/26/22		3,277
INR	135,000,000		Asian Development Bank		6.200		10/06/26		2,061
AUD	1,900,000		Australia Government International Bond		3.250		10/21/18		1,486
	1,700,000		Australia Government International Bond		5.750		05/15/21		1,486
	1,800,000		Australia Government International Bond		3.750		04/21/37		1,465
$	2,250,000	g	Banque Centrale de Tunisie S.A.		5.750		01/30/25		2,158
	2,000,000	g	Bermuda Government International Bond		4.854		02/06/24		2,107
	3,450,000	g	Bermuda Government International Bond		3.717		01/25/27		3,321
	6,000,000	g	Brazil Minas SPE via State of Minas Gerais		5.333		02/15/28		5,940
BRL	4,500,000		Brazil Notas do Tesouro Nacional Serie F		10.000		01/01/19		1,450
	5,750,000		Brazil Notas do Tesouro Nacional Serie F		10.000		01/01/21		1,849
$	4,250,000		Brazilian Government International Bond		4.250		01/07/25		4,186
	2,000,000		Brazilian Government International Bond		5.625		01/07/41		1,945
	500,000	g	Caisse d’Amortissement de la Dette Sociale		1.875		01/13/20		499
	5,000,000	g	Caisse d’Amortissement de la Dette Sociale		2.000		04/17/20		4,993
	1,850,000	g	Caisse d’Amortissement de la Dette Sociale		1.875		07/28/20		1,833
	4,000,000	g	Caisse d’Amortissement de la Dette Sociale		1.875		02/12/22		3,890
EUR	400,000		Caisse d’Amortissement de la Dette Sociale		1.375		11/25/24		449
CAD	2,865,000	g	Canada Housing Trust No		3.150		09/15/23		2,336
	1,460,000		Canadian Government International Bond		0.500		02/01/19		1,093
	1,400,000		Canadian Government International Bond		0.750		03/01/21		1,042
	600,000		Canadian Government International Bond		2.500		06/01/24		484
	1,255,000		Canadian Government International Bond		5.000		06/01/37		1,371
$	6,125,000		Colombia Government International Bond		2.625		03/15/23		5,888
	2,500,000		Colombia Government International Bond		4.500		01/28/26		2,637
	3,125,000		Colombia Government International Bond		6.125		01/18/41		3,562
	2,200,000		Colombia Government International Bond		5.000		06/15/45		2,207
COP	2,730,000,000		Colombian TES		7.000		05/04/22		981
$	3,500,000	g	Costa Rica Government International Bond		7.158		03/12/45		3,561
	20,200,000	g	CPPIB Capital, Inc		2.250		01/25/22		20,154
DKK	3,700,000		Denmark Government International Bond		1.500		11/15/23		582
	3,600,000		Denmark Government International Bond		1.750		11/15/25		580
$	1,100,000	g	Dominican Republic International Bond		6.875		01/29/26		1,205
	2,750,000	g	Ecuador Government International Bond		9.650		12/13/26		2,846
	1,850,000	g	Egypt Government International Bond		6.125		01/31/22		1,925
	5,750,000	g	Egypt Government International Bond		7.500		01/31/27		6,112
	1,450,000	g	El Salvador Government International Bond		8.625		02/28/29		1,497
	10,000,000		European Investment Bank		2.500		04/15/21		10,170
	250,000		European Investment Bank		3.250		01/29/24		262
SEK	12,330,000		European Investment Bank		1.250		05/12/25		1,394
$	3,500,000		European Investment Bank		4.875		02/15/36		4,350
	3,400,000	g	Export Credit Bank of Turkey		5.375		10/24/23		3,340
	2,000,000	g	Export-Import Bank of China		2.850		09/16/20		2,002
	2,075,000	g	Export-Import Bank of India		3.375		08/05/26		1,986
	8,950,000		Export-Import Bank of Korea		2.250		01/21/20		8,939
EUR	1,900,000		France Government Bond OAT		1.750		11/25/24		2,203
	4,000,000		France Government Bond OAT		1.500		05/25/31		4,336
	1,275,000		French Republic Government Bond OAT		0.250		11/25/26		1,271
	700,000	g	French Republic Government Bond OAT		1.750		06/25/39		746

328

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,600,000	g	Guatemala Government International Bond		4.500	%	05/03/26	$	3,587
EUR	1,100,000	g	Hellenic Republic Government International Bond		4.750		04/17/19		1,111
$	2,030,000	g	Honduras Government International Bond		7.500		03/15/24		2,230
	1,700,000	g	Honduras Government International Bond		6.250		01/19/27		1,721
HUF	250,000,000		Hungary Government Bond		7.500		11/12/20		1,056
$	15,200,000		Hydro Quebec		1.375		06/19/17		15,205
CAD	1,800,000		Hydro-Quebec		5.000		02/15/45		1,784
$	400,000		Indian Railway Finance Corp Ltd		3.917		02/26/19		411
EUR	1,000,000	g	Indonesia Government International Bond		2.625		06/14/23		1,118
$	400,000	g	Indonesia Government International Bond		4.125		01/15/25		411
	1,350,000	g	Indonesia Government International Bond		5.950		01/08/46		1,589
IDR	18,000,000,000		Indonesia Treasury Bond		8.250		07/15/21		1,417
AUD	900,000		Inter-American Development Bank		2.750		10/30/25		663
	1,300,000		International Bank for Reconstruction & Development		2.800		01/13/21		1,004
EUR	1,300,000		Ireland Government International Bond		3.900		03/20/23		1,684
	1,775,000		Ireland Government International Bond		1.000		05/15/26		1,895
	450,000		Ireland Government International Bond		2.000		02/18/45		473
ILS	4,900,000		Israel Government Bond-Fixed		6.250		10/30/26		1,848
	3,100,000		Israel Government Bond-Fixed		5.500		01/31/42		1,175
EUR	2,100,000		Italy Buoni Poliennali Del Tesoro		4.750		06/01/17		2,258
	1,200,000		Italy Buoni Poliennali Del Tesoro		0.450		06/01/21		1,270
	5,000,000		Italy Buoni Poliennali Del Tesoro		2.500		12/01/24		5,585
	2,170,000		Italy Buoni Poliennali Del Tesoro		2.200		06/01/27		2,317
$	5,310,000		Italy Government International Bond		6.875		09/27/23		6,166
	1,568,000	g,i	Ivory Coast Government International Bond (Step Bond)		5.750		12/31/32		1,456
	3,050,000		Jamaica Government International Bond		8.000		03/15/39		3,494
	8,000,000		Japan Bank for International Cooperation		2.375		04/20/26		7,670
	2,700,000	g	Japan Finance Organization for Municipalities		2.125		02/12/21		2,655
	4,000,000	g	Japan Finance Organization for Municipalities		2.125		04/13/21		3,937
JPY	113,000,000		Japan Finance Organization for Municipalities		0.450		03/14/25		1,044
	103,000,000		Japan Finance Organization for Municipalities		0.484		06/13/25		954
	140,000,000		Japan Finance Organization for Municipalities		0.020		03/13/26		1,246
	150,000,000		Japan Government Ten Year Bond		0.300		12/20/25		1,379
	440,000,000		Japan Government Ten Year Bond		0.100		09/20/26		3,972
	229,000,000		Japan Government Ten Year Bond		0.100		12/20/26		2,064
	350,000,000		Japan Government Thirty Year Bond		2.400		11/20/31		4,076
	350,000,000		Japan Government Thirty Year Bond		2.300		05/20/32		4,045
	300,000,000		Japan Government Thirty Year Bond		2.500		09/20/34		3,599
	530,000,000		Japan Government Twenty Year Bond		1.900		03/22/21		5,147
	400,000,000		Japan Government Twenty Year Bond		2.100		03/20/26		4,256
	120,000,000		Japan Government Twenty Year Bond		0.600		12/20/36		1,072
	100,000,000		Japan Government Two Year Bond		0.100		02/15/19		904
$	5,200,000	g	Kazakhstan Government International Bond		6.500		07/21/45		6,165
	18,750,000		KFW		2.625		01/25/22		19,162
EUR	1,025,000	g	Kingdom of Belgium Government Bond		1.900		06/22/38		1,162
$	4,500,000	g	Kommunalbanken AS.		1.375		06/08/17		4,502
	5,800,000	g,i	Kommunalbanken AS.		1.232		02/20/18		5,808
NOK	1,200,000		Kommunalbanken AS.		2.000		05/03/18		141
$	7,700,000	g	Kommunalbanken AS.		1.625		01/15/20		7,659
	1,925,000	g	Kommunalbanken AS.		1.375		10/26/20		1,886
	3,750,000	g	Kommunalbanken AS.		1.625		02/10/21		3,687
EUR	500,000		Kommunalbanken AS.		0.625		04/20/26		531
$	5,000,000	g	Kommuninvest I Sverige AB		2.000		11/12/19		5,030
SEK	13,300,000		Kommuninvest I Sverige AB		1.000		09/15/21		1,525

329

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,400,000		Korea Development Bank		1.500	%	01/22/18	$	2,395
	2,600,000		Korea Development Bank		2.500		03/11/20		2,610
	6,000,000	g	Korea Housing Finance Corp		1.625		09/15/18		5,964
	2,675,000	g	Korea Housing Finance Corp		2.000		10/11/21		2,584
KRW	580,000,000		Korea Treasury Bond		1.750		12/10/18		520
	3,920,000,000		Korea Treasury Bond		2.000		03/10/21		3,535
	4,200,000,000		Korea Treasury Bond		1.375		09/10/21		3,687
EUR	1,000,000		Kreditanstalt fuer Wiederaufbau		1.500		06/11/24		1,171
$	7,050,000	g	Kuwait International Government Bond		2.750		03/20/22		7,068
	6,682,000		Landwirtschaftliche Rentenbank		2.000		01/13/25		6,436
	1,700,000	g	Lithuania Government International Bond		7.375		02/11/20		1,934
	5,250,000	g	Lithuania Government International Bond		6.625		02/01/22		6,154
MXN	14,500,000		Mexican Bonos		8.000		12/07/23		816
	80,000,000		Mexican Bonos		5.750		03/05/26		3,911
$	4,797,000		Mexico Government International Bond		4.000		10/02/23		4,941
	5,000,000		Mexico Government International Bond		4.150		03/28/27		5,088
	8,400,000		Mexico Government International Bond		4.750		03/08/44		8,169
	1,200,000	g	Mongolia Government International Bond		4.125		01/05/18		1,195
	1,200,000	g	Morocco Government International Bond		5.500		12/11/42		1,278
	2,900,000	g	Municipality Finance plc		1.125		09/16/19		2,856
	4,500,000	g	Nacional Financiera SNC		3.375		11/05/20		4,565
	6,075,000	g	Namibia Government International Bond		5.250		10/29/25		6,127
EUR	820,000	g	Netherlands Government International Bond		2.000		07/15/24		996
	475,000	g	Netherlands Government International Bond		0.500		07/15/26		510
AUD	500,000		New South Wales Treasury Corp		4.000		04/08/21		407
	500,000		New South Wales Treasury Corp		4.000		05/20/26		416
NZD	700,000		New Zealand Government International Bond		4.500		04/15/27		545
$	525,000	g	Nigeria Government International Bond		7.875		02/16/32		547
NOK	13,000,000	g	Norway Government International Bond		2.000		05/24/23		1,587
$	3,700,000	g	Oman Government International Bond		6.500		03/08/47		3,917
	5,300,000		Panama Government International Bond		6.700		01/26/36		6,678
	865,000	g	Paraguay Government International Bond		4.700		03/27/27		876
	4,000,000	g	Perusahaan Penerbit SBSN Indonesia III		3.400		03/29/22		4,011
PEN	4,860,000	g	Peruvian Government International Bond		8.200		08/12/26		1,763
$	3,000,000		Peruvian Government International Bond		8.750		11/21/33		4,538
	2,250,000		Peruvian Government International Bond		5.625		11/18/50		2,680
	1,700,000		Philippine Government International Bond		3.700		03/01/41		1,688
	3,000,000		Philippine Government International Bond		3.700		02/02/42		2,972
	8,150,000		Poland Government International Bond		5.000		03/23/22		8,949
PLN	6,600,000		Poland Government International Bond		4.000		10/25/23		1,754
$	15,000,000	g	Province of Alberta Canada		1.000		06/21/17		14,994
	15,000,000		Province of British Columbia Canada		2.000		10/23/22		14,718
CAD	2,350,000		Province of British Columbia Canada		2.550		06/18/27		1,789
$	20,750,000		Province of Manitoba Canada		1.750		05/30/19		20,791
	10,000,000		Province of Manitoba Canada		3.050		05/14/24		10,255
	25,000,000		Province of Manitoba Canada		2.125		06/22/26		23,373
	20,000,000		Province of New Brunswick Canada		2.750		06/15/18		20,304
	8,835,000		Province of Quebec Canada		4.625		05/14/18		9,146
	22,500,000		Province of Quebec Canada		3.500		07/29/20		23,589
	6,000,000		Province of Quebec Canada		7.500		09/15/29		8,520
	3,350,000	g	Provincia de Buenos Aires		7.875		06/15/27		3,393
	2,000,000	g	Provincia de Mendoza Argentina		8.375		05/19/24		2,090
	2,400,000	g	Republic of Angola		9.500		11/12/25		2,475

330

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,000,000	g	Republic of Azerbaijan International Bond		4.750	%	03/18/24	$	2,013
	900,000	g	Republic of Ghana		7.875		08/07/23		871
	1,175,000		Republic of Hungary		6.250		01/29/20		1,287
	2,135,000	g	Republic of Paraguay		6.100		08/11/44		2,290
PLN	4,000,000		Republic of Poland Government International Bond		3.250		07/25/19		1,034
$	1,150,000	g	Republic of Serbia (Step Bond)		4.875		02/25/20		1,192
	726,660	i	Republic of Serbia		6.750		11/01/24		733
	4,500,000	g	Romanian Government International Bond		6.750		02/07/22		5,218
RUB	117,750,000		Russian Federal Bond - OFZ		7.000		01/25/23		2,014
	39,000,000		Russian Federal Bond - OFZ		7.000		08/16/23		663
$	3,250,000	g	Russian Foreign Bond - Eurobond		4.875		09/16/23		3,485
	1,500,000	g	Saudi Government International Bond		2.375		10/26/21		1,475
	4,000,000	g	Saudi Government International Bond		3.250		10/26/26		3,888
	4,000,000		South Africa Government International Bond		5.875		09/16/25		4,300
	2,450,000		South Africa Government International Bond		4.875		04/14/26		2,464
ZAR	12,200,000		South Africa Government International Bond		10.500		12/21/26		1,005
$	500,000		South Africa Government International Bond		4.300		10/12/28		469
ZAR	15,100,000		South Africa Government International Bond		8.750		01/31/44		1,019
$	3,625,000	g,h	Southern Gas Corridor CJSC		6.875		03/24/26		3,978
EUR	1,130,000	g	Spain Government International Bond		4.300		10/31/19		1,342
	1,020,000		Spain Government International Bond		0.400		04/30/22		1,084
	4,025,000	g	Spain Government International Bond		2.750		10/31/24		4,781
	1,000,000	g	Spain Government International Bond		4.200		01/31/37		1,348
$	3,000,000	g	Sri Lanka Government International Bond		5.750		01/18/22		3,083
	3,100,000	g	Sri Lanka Government International Bond		6.850		11/03/25		3,212
EUR	700,000		State of North Rhine-Westphalia		2.000		10/15/25		844
$	825,000		State Oil Co of the Azerbaijan Republic		4.750		03/13/23		800
	4,000,000		Svensk Exportkredit AB		1.125		04/05/18		3,990
	4,000,000		Svensk Exportkredit AB		1.750		03/10/21		3,941
SEK	4,400,000		Sweden Government International Bond		2.250		06/01/32		562
AUD	500,000		Treasury Corp of Victoria		6.000		06/15/20		428
	500,000		Treasury Corp of Victoria		3.000		10/20/28		376
$	2,575,000	g	Trinidad & Tobago Government International Bond		4.500		08/04/26		2,557
TRY	3,900,000		Turkey Government International Bond		7.100		03/08/23		903
$	7,000,000		Turkey Government International Bond		3.250		03/23/23		6,417
	5,750,000		Turkey Government International Bond		5.750		03/22/24		5,964
	4,150,000		Turkey Government International Bond		6.000		03/25/27		4,317
	950,000		Turkey Government International Bond		6.875		03/17/36		1,032
	3,975,000		Turkey Government International Bond		6.625		02/17/45		4,229
GBP	1,700,000		United Kingdom Gilt		1.750		07/22/19		2,210
	1,375,000		United Kingdom Gilt		1.500		01/22/21		1,800
	3,000,000		United Kingdom Gilt		2.750		09/07/24		4,291
	1,900,000		United Kingdom Gilt		4.750		12/07/30		3,388
	1,850,000		United Kingdom Gilt		4.250		03/07/36		3,301
	2,340,000		United Kingdom Gilt		1.500		07/22/47		2,787
$	2,352,945		Uruguay Government International Bond		4.375		10/27/27		2,456
	6,750,000		Uruguay Government International Bond		5.100		06/18/50		6,497
	2,625,000	g	Vietnam Government International Bond		4.800		11/19/24		2,678
	2,000,000	g	Zambia Government International Bond		8.970		07/30/27		2,090
			TOTAL FOREIGN GOVERNMENT BONDS						738,027
MORTGAGE BACKED - 20.1%
	26,000,000		Federal Home Loan Mortgage Corp (FHLMC)		3.500		03/15/28		26,825
	43,400,000		FHLMC		3.500		08/15/43		45,440

331

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	45,336,112		FHLMC		3.500	%	07/15/46	$	9,401
	46,660		Federal Home Loan Mortgage Corp Gold (FGLMC)		7.000		10/01/20		49
	11,689		FGLMC		7.000		05/01/23		13
	140,713		FGLMC		6.000		10/01/23		159
	104,216		FGLMC		6.000		11/01/23		118
	16,702,064		FGLMC		3.500		03/01/27		17,417
	30,023		FGLMC		8.000		01/01/31		34
	5,645		FGLMC		7.000		01/01/32		6
	51,043		FGLMC		8.000		02/01/32		53
	836,312		FGLMC		4.500		07/01/33		900
	1,842,312		FGLMC		5.500		12/01/33		2,070
	995,019		FGLMC		5.500		12/01/33		1,129
	5,654,003		FGLMC		7.000		12/01/33		6,627
	6,617,337		FGLMC		5.000		01/01/34		7,290
	1,839,793		FGLMC		4.500		10/01/34		1,977
	1,053,813		FGLMC		4.500		04/01/35		1,133
	1,902,620		FGLMC		7.000		05/01/35		2,201
	351,357		FGLMC		5.000		02/01/36		383
	9,937		FGLMC		6.500		05/01/36		11
	2,172,820		FGLMC		5.000		04/01/38		2,386
	1,750,528		FGLMC		5.000		07/01/39		1,907
	10,598,930	w	FGLMC		4.500		11/01/40		11,518
	11,728,235	w	FGLMC		4.500		12/01/40		12,748
	204,135		FGLMC		4.500		12/01/43		223
	121,015		FGLMC		4.500		02/01/44		132
	5,097,582		FGLMC		4.500		10/01/44		5,562
	2,640,882		FGLMC		4.500		11/01/44		2,882
	2,214,704		FGLMC		4.500		11/01/44		2,418
	1,794,388		FGLMC		4.500		12/01/44		1,959
	990,205		FGLMC		4.500		12/01/44		1,069
	10,187,045		FGLMC		3.500		04/01/45		10,482
	76,445,265		FGLMC		3.500		10/01/45		78,604
	67,730,195		FGLMC		4.000		12/01/45		71,615
	13,520,956		FGLMC		3.500		03/01/46		13,892
	8,389,277		FGLMC		4.000		05/01/46		8,868
	124,149,854		FGLMC		3.500		08/01/46		127,559
	8,223		Federal National Mortgage Association (FNMA)		8.000		03/01/23		8
	81,865		FNMA		8.000		07/01/24		94
	17,710		FNMA		9.000		11/01/25		20
	20,976,183		FNMA		2.500		07/01/31		21,003
	851,524		FNMA		2.500		07/01/31		853
	5,056,621		FNMA		2.500		08/01/31		5,063
	667,549		FNMA		2.500		10/01/31		669
	2,254,558		FNMA		2.500		10/01/31		2,257
	409,706		FNMA		2.500		11/01/31		410
	1,875,374		FNMA		2.500		11/01/31		1,878
	1,254,031		FNMA		2.500		11/01/31		1,256
	898,011		FNMA		2.500		11/01/31		899
	1,643,816		FNMA		2.500		11/01/31		1,646
	639,374		FNMA		2.500		12/01/31		640
	2,463,977		FNMA		2.500		12/01/31		2,467
	3,203,637		FNMA		2.500		12/01/31		3,208

332

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	850,418		FNMA		2.500	%	12/01/31	$	852
	1,135,986		FNMA		2.500		12/01/31		1,137
	42,036,623		FNMA		2.500		01/01/32		42,078
	26,876,849		FNMA		3.500		02/01/32		28,083
	71,000,000	h	FNMA		3.000		05/25/32		72,681
	1,044,506		FNMA		6.500		07/01/32		1,215
	92,159		FNMA		7.000		07/01/32		101
	153,828		FNMA		7.000		07/01/32		164
	7,411,038		FNMA		5.000		06/01/33		8,128
	872,331		FNMA		4.500		10/01/33		940
	16,682,459		FNMA		5.000		10/01/33		18,286
	2,118,372		FNMA		5.000		11/01/33		2,363
	96,827		FNMA		5.000		11/01/33		107
	881,137		FNMA		5.000		03/01/34		966
	7,123,503		FNMA		5.500		03/01/34		7,977
	6,320,316		FNMA		5.500		02/01/35		7,075
	1,524,183		FNMA		4.500		05/01/35		1,642
	10,082,973		FNMA		5.000		05/01/35		11,032
	4,499,829		FNMA		5.000		10/01/35		4,923
	3,862,711		FNMA		5.000		02/01/36		4,226
	40,953		FNMA		6.500		03/01/37		47
	2,334,684		FNMA		5.500		08/01/37		2,614
	1,269,650		FNMA		6.000		09/01/37		1,472
	1,113,241		FNMA		6.000		09/01/37		1,290
	858,070		FNMA		6.500		09/01/37		963
	1,427,539		FNMA		5.500		01/01/38		1,599
	66,938		FNMA		6.500		02/01/38		74
	3,644,818		FNMA		5.500		04/01/38		4,064
	7,854,630		FNMA		5.500		11/01/38		9,101
	5,103,397		FNMA		5.500		12/01/38		5,763
	169,245		FNMA		4.500		04/01/39		185
	4,070,974		FNMA		4.500		05/01/39		4,408
	586,407		FNMA		4.000		07/01/39		620
	3,748,987		FNMA		5.500		08/01/39		4,227
	252,666		FNMA		4.500		02/01/40		276
	1,433,385		FNMA		5.000		08/01/40		1,568
	8,525,573		FNMA		5.000		09/01/40		9,318
	596,929		FNMA		6.000		10/01/40		675
	718,973		FNMA		4.500		11/01/40		787
	22,960,120		FNMA		4.500		01/01/41		24,899
	1,182,594		FNMA		4.500		01/01/41		1,294
	13,057,129		FNMA		4.500		01/01/41		14,115
	1,017,101		FNMA		4.500		02/01/41		1,113
	12,151,452		FNMA		5.000		05/01/41		13,298
	1,169,434		FNMA		4.500		06/01/41		1,280
	1,273,139		FNMA		4.500		06/01/41		1,392
	749,105		FNMA		5.000		06/01/41		821
	4,196,534		FNMA		5.000		07/01/41		4,596
	1,071,317		FNMA		5.000		08/01/41		1,172
	4,929,762		FNMA		4.500		09/01/41		5,329
	1,572,601		FNMA		4.500		12/01/41		1,719
	23,811,671		FNMA		5.500		12/01/41		27,308
	1,289,697		FNMA		4.500		01/01/42		1,410

333

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,184,494		FNMA		4.500	%	01/01/42	$	2,367
	1,468,511		FNMA		4.500		03/01/42		1,605
	23,154,520		FNMA		3.000		03/25/42		23,575
	8,197,600		FNMA		4.500		04/01/42		8,823
	1,127,940		FNMA		4.500		04/01/42		1,227
	6,830,983		FNMA		4.500		06/01/42		7,353
	1,461,490		FNMA		4.500		06/01/42		1,598
	24,457,327		FNMA		3.000		06/25/42		24,889
	1,079,588		FNMA		4.500		07/01/42		1,180
	15,124,435		FNMA		4.500		08/01/42		16,373
	19,575,441		FNMA		3.000		10/01/42		19,524
	211,962		FNMA		3.000		10/01/42		211
	26,164,134		FNMA		3.500		11/25/42		5,292
	21,774,076	w	FNMA		3.000		01/01/43		21,717
	27,441,316	w	FNMA		3.000		02/01/43		27,369
	18,850,007		FNMA		3.000		02/25/43		19,192
	12,337		FNMA		3.000		04/01/43		12
	17,775,481		FNMA		3.000		08/25/43		18,167
	14,989,307		FNMA		4.500		10/01/43		16,210
	9,459,752		FNMA		4.000		04/01/44		10,009
	2,902,385		FNMA		4.000		06/01/44		3,071
	5,589,740		FNMA		4.000		06/01/44		5,912
	9,040,788		FNMA		4.500		06/01/44		9,849
	1,612,282		FNMA		4.000		07/01/44		1,706
	3,243,620		FNMA		4.000		07/01/44		3,432
	14,625,710		FNMA		4.000		08/01/44		15,475
	5,433,074		FNMA		4.000		08/01/44		5,748
	5,532,034		FNMA		4.000		08/01/44		5,853
	2,013,930		FNMA		4.000		08/01/44		2,130
	1,144,296		FNMA		4.000		09/01/44		1,213
	1,391,062		FNMA		4.000		09/01/44		1,473
	6,686,776		FNMA		4.000		10/01/44		7,087
	8,998,248		FNMA		4.500		10/01/44		9,858
	16,119,716		FNMA		4.500		11/01/44		17,659
	13,418,336		FNMA		4.000		12/01/44		14,222
	6,184,544		FNMA		4.000		12/01/44		6,503
	4,848,308		FNMA		4.500		12/01/44		5,310
	8,821,627		FNMA		4.000		01/01/45		9,350
	585,891		FNMA		3.500		03/01/45		602
	1,012,384		FNMA		3.500		03/01/45		1,041
	2,270,528		FNMA		4.500		03/01/45		2,490
	731,640		FNMA		4.500		04/01/45		802
	19,302,974		FNMA		3.500		05/01/45		19,884
	2,560,344		FNMA		4.000		05/01/45		2,714
	5,595,500		FNMA		4.000		06/01/45		5,931
	17,001,427		FNMA		4.000		07/01/45		17,968
	12,316,285		FNMA		4.000		08/01/45		12,930
	2,920,967		FNMA		4.000		08/01/45		3,096
	52,176,921		FNMA		4.000		09/01/45		55,289
	1,617,310		FNMA		4.000		10/01/45		1,714
	10,090,765		FNMA		4.000		11/01/45		10,696
	3,266,645		FNMA		4.000		12/01/45		3,463
	12,886,316		FNMA		4.000		12/01/45		13,600

334

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	26,929,284		FNMA		3.500	%	01/01/46	$	27,671
	49,215,702		FNMA		4.000		01/01/46		52,032
	26,265,347		FNMA		3.500		02/01/46		26,932
	23,428,436		FNMA		3.500		06/01/46		24,075
	2,154,549		FNMA		4.000		10/01/46		2,278
	5,898,298		FNMA		3.500		10/25/46		1,683
	80,882,642		FNMA		3.000		11/01/46		80,268
	87,970,007		FNMA		3.000		12/01/46		87,302
	39,776,695		FNMA		3.500		02/01/47		40,714
	12,000,000	h	FNMA		3.000		04/25/47		11,901
	14,000,000	h	FNMA		3.500		04/25/47		14,322
	12,000,000	h	FNMA		4.000		04/25/47		12,587
	46,000,000	h	FNMA		4.500		04/25/47		49,326
	30,000,000	h	FNMA		3.000		05/25/47		29,695
	90,000,000	h	FNMA		3.500		05/25/47		91,870
	93,000,000	h	FNMA		4.000		05/25/47		97,359
	105,000,000	h	FNMA		3.500		06/25/47		106,952
	38,000,000	h	FNMA		4.000		06/25/47		39,694
	51,000,000	h	FNMA		4.500		06/25/47		54,496
	5,469		Government National Mortgage Association (GNMA)		8.000		06/15/24		5
	21,955		GNMA		8.500		11/20/30		25
	36,772		GNMA		8.500		12/20/30		43
	630,984		GNMA		5.500		07/15/33		712
	15,147,332		GNMA		3.700		10/15/33		15,928
	377,163		GNMA		5.500		11/20/33		423
	1,341,265		GNMA		5.500		03/20/35		1,506
	621,843		GNMA		5.500		12/20/35		690
	340,589		GNMA		6.000		10/20/36		399
	376,195		GNMA		6.000		01/20/37		432
	1,116,036		GNMA		6.000		02/20/37		1,276
	810,502		GNMA		5.000		04/15/38		894
	773,013		GNMA		5.500		07/15/38		863
	1,160,797		GNMA		5.500		07/20/38		1,284
	396,690		GNMA		6.000		08/20/38		450
	738,919		GNMA		6.500		11/20/38		841
	70,401		GNMA		4.500		02/20/39		77
	515,194		GNMA		2.176		05/16/39		516
	1,633,792		GNMA		5.000		06/15/39		1,825
	2,467,916		GNMA		5.000		06/15/39		2,756
	10,258,337		GNMA		4.500		09/20/39		11,152
	11,841,167		GNMA		3.700		08/15/40		12,352
	98,273		GNMA		4.500		08/20/41		106
	344,603		GNMA		4.500		09/20/41		376
	35,979,416		GNMA		3.500		10/20/42		6,941
	73,349		GNMA		4.500		01/20/44		80
	90,812		GNMA		4.500		02/20/44		99
	1,107,397		GNMA		4.500		05/20/44		1,209
	146,155		GNMA		4.500		05/20/44		160
	1,096,250		GNMA		4.500		08/20/44		1,197
	1,108,440		GNMA		4.500		09/20/44		1,210
	395,206		GNMA		4.500		10/20/44		430
	355,636		GNMA		4.500		11/20/44		387
	748,079		GNMA		4.500		12/20/44		817
	1,108,222		GNMA		4.500		02/20/45		1,209

335

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,413,410		GNMA		4.500	%	08/20/45	$	1,543
	1,206,567		GNMA		4.500		08/20/45		1,318
	1,222,092		GNMA		4.500		12/20/45		1,335
	37,422,077		GNMA		3.500		11/20/46		7,610
	130,393,018		GNMA		3.000		01/20/47		131,690
	75,695,611		GNMA		3.500		01/20/47		78,567
	118,675,000	h	GNMA		3.500		03/20/47		123,177
	13,000,000	h	GNMA		3.000		04/20/47		13,114
	13,000,000	h	GNMA		3.500		04/20/47		13,478
	7,000,000	h	GNMA		3.500		05/20/47		7,244
	25,000,000	h	GNMA		4.000		05/20/47		26,359
			TOTAL MORTGAGE BACKED						2,712,230
MUNICIPAL BONDS - 3.0%
	28,410,000		California State University		3.899		11/01/47		28,139
	10,000,000		City of Dallas TX Waterworks & Sewer System Revenue		0.985		10/01/18		9,921
	8,725,000		City of Dallas TX Waterworks & Sewer System Revenue		1.217		10/01/19		8,612
	5,000,000		City of Dallas TX Waterworks & Sewer System Revenue		1.868		10/01/22		4,841
	2,775,000		City of Dallas TX Waterworks & Sewer System Revenue		2.068		10/01/23		2,678
	1,350,000		City of Dallas TX Waterworks & Sewer System Revenue		2.389		10/01/25		1,286
	3,000,000		City of Dallas TX Waterworks & Sewer System Revenue		2.439		10/01/26		2,818
	2,025,000		City of San Antonio TX Customer Facility Charge Revenue		4.253		07/01/24		2,056
	1,575,000		City of San Antonio TX Customer Facility Charge Revenue		4.353		07/01/25		1,602
	20,000,000		City of San Francisco CA Public Utilities Commission Water Revenue		4.035		11/01/41		19,733
	9,950,000		Commonwealth of Massachusetts		3.277		06/01/46		9,111
	1,875,000		County of Miami-Dade FL Aviation Revenue		1.885		10/01/21		1,814
	1,505,000		County of Miami-Dade FL Aviation Revenue		2.218		10/01/22		1,454
	1,500,000		County of Miami-Dade FL Aviation Revenue		2.368		10/01/23		1,438
	3,500,000		County of Miami-Dade FL Aviation Revenue		2.504		10/01/24		3,353
	3,500,000		County of Miami-Dade FL Aviation Revenue		2.604		10/01/25		3,325
	2,500,000		County of Miami-Dade FL Aviation Revenue		2.704		10/01/26		2,363
	1,875,000		Imperial Irrigation District Electric System Revenue		0.995		11/01/17		1,871
	1,895,000		Imperial Irrigation District Electric System Revenue		1.095		11/01/18		1,883
	5,265,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		1.125		09/01/19		5,175
	2,350,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		1.500		09/01/21		2,274
	1,000,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		2.000		09/01/22		976
	4,805,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		3.375		09/01/35		4,403
	2,560,000		Michigan Finance Authority		1.941		11/01/21		2,496
	3,000,000		Michigan Finance Authority		2.244		11/01/22		2,949
	6,000,000		New York State Dormitory Authority		3.879		07/01/46		5,644
	2,000,000		Permanent University Fund		1.439		07/01/17		2,002
	2,625,000		Permanent University Fund		1.730		07/01/18		2,636
	4,720,000		Permanent University Fund		1.880		07/01/19		4,735
	2,320,000		Permanent University Fund		2.258		07/01/20		2,340
	2,160,000		Permanent University Fund		2.408		07/01/21		2,165
	2,750,000		Permanent University Fund		2.508		07/01/22		2,760
	2,855,000		Permanent University Fund		2.608		07/01/23		2,861

336

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
$	3,250,000	Permanent University Fund		2.708	%	07/01/24	$	3,246
	2,335,000	Permanent University Fund		2.808		07/01/25		2,299
	3,775,000	Permanent University Fund		2.908		07/01/26		3,717
	4,000,000	Permanent University Fund		3.008		07/01/27		3,922
	2,000,000	Port of Corpus Christi Authority of Nueces County		3.138		12/01/22		2,010
	1,700,000	Port of Corpus Christi Authority of Nueces County		3.287		12/01/23		1,713
	1,500,000	Port of Corpus Christi Authority of Nueces County		3.387		12/01/24		1,515
	1,000,000	Port of Corpus Christi Authority of Nueces County		3.487		12/01/25		1,009
	7,500,000	Port of Morrow OR		1.582		09/01/20		7,412
	2,075,000	Port of Morrow OR		1.782		09/01/21		2,038
	1,000,000	Regents of the University of California Medical Center Pooled Revenue		2.037		05/15/23		958
	1,000,000	Regents of the University of California Medical Center Pooled Revenue		2.259		05/15/24		961
	1,250,000	Regents of the University of California Medical Center Pooled Revenue		2.359		05/15/25		1,181
	1,785,000	Regents of the University of California Medical Center Pooled Revenue		2.459		05/15/26		1,683
	1,600,000	Regents of the University of California Medical Center Pooled Revenue		2.559		05/15/27		1,510
	700,000	Regents of the University of California Medical Center Pooled Revenue		2.659		05/15/28		657
	900,000	Regents of the University of California Medical Center Pooled Revenue		2.759		05/15/29		842
	24,500,000	South Carolina Public Service Authority		2.388		12/01/23		22,481
	3,060,000	State of Georgia		2.000		07/01/20		3,076
	3,215,000	State of Georgia		2.150		07/01/21		3,216
	3,465,000	State of Georgia		1.910		02/01/23		3,349
	3,905,000	State of Georgia		2.750		07/01/25		3,882
	4,100,000	State of Georgia		2.850		07/01/26		4,086
	4,305,000	State of Georgia		2.950		07/01/27		4,304
	4,520,000	State of Georgia		3.050		07/01/28		4,528
	3,245,000	State of Georgia		3.150		07/01/29		3,259
	5,866,667	State of Illinois		4.350		06/01/18		5,925
	7,500,000	State of Illinois		2.000		06/15/19		7,494
	7,160,000	State of Illinois		5.463		02/01/20		7,475
	12,500,000	State of Illinois		1.930		06/15/20		12,320
	12,500,000	State of Illinois		2.250		06/15/21		12,338
	12,500,000	State of Illinois		3.150		06/15/26		12,206
	12,500,000	State of Illinois		3.250		06/15/27		12,180
	20,000,000	State of Michigan		1.579		11/01/20		19,741
	13,000,000	State of Michigan		1.779		11/01/21		12,690
	7,000,000	State of Michigan		1.966		11/01/22		6,797
	6,000,000	University of California		2.570		05/15/22		6,020
	17,045,000	University of California		3.931		05/15/45		16,993
	20,000,000	University of New Mexico		3.532		06/20/32		20,154
	500,000	Utah Municipal Power Agency		1.630		07/01/19		496
	835,000	Utah Municipal Power Agency		1.823		07/01/20		824
	500,000	Utah Municipal Power Agency		2.023		07/01/21		491
	1,750,000	Utah Municipal Power Agency		2.262		07/01/22		1,706
	1,500,000	Utah Municipal Power Agency		2.512		07/01/23		1,466
	2,160,000	Virginia Port Authority		4.228		07/01/36		2,144
		TOTAL MUNICIPAL BONDS						400,028

337

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
U.S. TREASURY SECURITIES - 13.6%
$	2,185,000	United States Treasury Bond		5.250	%	11/15/28	$	2,792
	100,686,000	United States Treasury Bond		5.375		02/15/31		134,420
	65,602,000	United States Treasury Bond		4.500		02/15/36		83,179
	4,500,000	United States Treasury Bond		4.750		02/15/37		5,874
	38,000,000	United States Treasury Bond		3.500		02/15/39		41,810
	11,900,000	United States Treasury Bond		3.875		08/15/40		13,753
	19,135,000	United States Treasury Bond		4.375		05/15/41		23,824
	16,434,000	United States Treasury Bond		3.750		08/15/41		18,635
	56,375,000	United States Treasury Bond		3.625		08/15/43		62,759
	35,680,000	United States Treasury Bond		3.000		05/15/45		35,461
	81,710,000	United States Treasury Bond		2.875		08/15/45		79,214
	118,850,000	United States Treasury Bond		2.500		05/15/46		106,399
	42,000,000	United States Treasury Bond		2.875		11/15/46		40,737
	12,900,000	United States Treasury Bond		3.000		02/15/47		12,847
	3,000,000	United States Treasury Note		1.000		12/31/17		3,000
	200,000	United States Treasury Note		0.750		02/28/18		199
	14,345,000	United States Treasury Note		0.875		03/31/18		14,316
	120,000,000	United States Treasury Note		0.875		05/31/18		119,653
	32,200,000	United States Treasury Note		0.625		06/30/18		31,997
	37,665,000	United States Treasury Note		0.875		07/15/18		37,534
	12,100,000	United States Treasury Note		2.250		07/31/18		12,274
	12,700,000	United States Treasury Note		0.750		08/31/18		12,627
	9,966,900	United States Treasury Note		1.375		09/30/18		9,995
	131,675,000	United States Treasury Note		0.750		10/31/18		130,739
	1,365,000	United States Treasury Note		1.750		10/31/18		1,377
	5,325,000	United States Treasury Note		1.000		11/30/18		5,306
	9,115,000	United States Treasury Note		1.250		12/31/18		9,119
	950,000	United States Treasury Note		1.125		01/31/19		948
	2,600,000	United States Treasury Note		1.125		02/28/19		2,594
	17,775,000	United States Treasury Note		1.000		03/15/19		17,683
	4,270,000	United States Treasury Note		1.250		03/31/19		4,269
	1,195,000	United States Treasury Note		0.875		04/15/19		1,185
	3,000,000	United States Treasury Note		1.375		02/15/20		2,990
	1,435,000	United States Treasury Note		1.625		03/15/20		1,440
	39,800,000	United States Treasury Note		1.625		07/31/20		39,802
	3,000,000	United States Treasury Note		1.750		12/31/20		3,002
	750,000	United States Treasury Note		1.375		01/31/21		739
	825,000	United States Treasury Note		2.125		01/31/21		836
	12,589,300	United States Treasury Note		1.125		02/28/21		12,282
	12,720,000	United States Treasury Note		2.000		02/28/21		12,831
	48,635,000	United States Treasury Note		1.375		04/30/21		47,814
	3,240,000	United States Treasury Note		2.250		04/30/21		3,297
	1,040,000	United States Treasury Note		1.375		05/31/21		1,021
	16,465,000	United States Treasury Note		2.000		05/31/21		16,588
	1,730,000	United States Treasury Note		2.125		06/30/21		1,750
	11,825,000	United States Treasury Note		2.000		08/31/21		11,889
	133,872,000	United States Treasury Note		8.000		11/15/21		169,944
	21,575,000	United States Treasury Note		1.875		01/31/22		21,526
	72,575,000	United States Treasury Note		1.750		02/28/22		71,926
	5,500,000	United States Treasury Note		1.875		02/28/22		5,488
	1,710,000	United States Treasury Note		1.750		03/31/22		1,694
	8,000,000	United States Treasury Note		1.750		04/30/22		7,917

338

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	4,565,000		United States Treasury Note		2.125	%	06/30/22	$	4,596
	23,000,000		United States Treasury Note		2.000		07/31/22		22,989
	106,110,000		United States Treasury Note		1.875		08/31/22		105,281
	56,465,000		United States Treasury Note		1.750		09/30/22		55,600
	500,000		United States Treasury Note		1.750		01/31/23		491
	1,875,000		United States Treasury Note		1.625		04/30/23		1,822
	510,000		United States Treasury Note		1.375		06/30/23		487
	500,000		United States Treasury Note		1.250		07/31/23		473
	16,720,000		United States Treasury Note		1.375		09/30/23		15,911
	15,000,000		United States Treasury Note		1.625		10/31/23		14,493
	15,705,000		United States Treasury Note		2.250		12/31/23		15,758
	74,000,000		United States Treasury Note		2.125		02/29/24		73,584
	12,652,000		United States Treasury Note		2.250		02/15/27		12,489
			TOTAL U.S. TREASURY SECURITIES						1,835,269
			TOTAL GOVERNMENT BONDS						5,882,469
			(Cost $5,877,689)
STRUCTURED ASSETS - 17.7%
ASSET BACKED - 7.5%
	473,700	i	ACE Securities Corp Home Equity Loan Trust		1.717		08/25/35		470
			Series - 2005 HE5 (Class M2)
	11,450,000		Ally Auto Receivables Trust		2.100		03/15/22		11,449
			Series - 2017 2 (Class A4)
	2,414,971		AmeriCredit Automobile Receivables Trust		1.570		01/08/19		2,415
			Series - 2013 1 (Class C)
	1,978,394		AmeriCredit Automobile Receivables Trust		1.790		03/08/19		1,979
			Series - 2013 2 (Class C)
	18,920,000		AmeriCredit Automobile Receivables Trust		2.420		05/08/19		18,984
			Series - 2013 2 (Class D)
	5,513,856		AmeriCredit Automobile Receivables Trust		2.720		09/09/19		5,535
			Series - 2013 4 (Class C)
	1,550,000		AmeriCredit Automobile Receivables Trust		2.400		01/08/21		1,563
			Series - 2015 2 (Class C)
	3,500,000		AmeriCredit Automobile Receivables Trust		1.460		05/10/21		3,490
			Series - 2016 3 (Class A3)
	5,250,000		AmeriCredit Automobile Receivables Trust		1.530		07/08/21		5,223
			Series - 2016 4 (Class A3)
	12,805,000		AmeriCredit Automobile Receivables Trust		3.340		08/08/21		12,959
			Series - 2015 3 (Class D)
	10,500,000		AmeriCredit Automobile Receivables Trust		1.870		08/18/21		10,487
			Series - 2017 1 (Class A3)
	5,500,000		AmeriCredit Automobile Receivables Trust		2.740		12/08/22		5,460
			Series - 2016 4 (Class D)
	74,236	g	Asset Backed Funding Corp NIM Trust		5.900		07/26/35		0	^
			Series - 2006 WMC1 (Class N1)
	1,000,000	g,i	Aventura Mall Trust		3.743		12/05/32		1,029
			Series - 2013 AVM (Class C)
	5,000,000	g,i	Aventura Mall Trust		3.743		12/05/32		5,081
			Series - 2013 AVM (Class E)
	1,630,000	g	Avis Budget Rental Car Funding AESOP LLC		3.887		05/20/18		1,633
			Series - 2012 2A (Class B)

339

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,701,000	g	Avis Budget Rental Car Funding AESOP LLC		1.920	%	09/20/19	$	2,701
			Series - 2013 1A (Class A)
	12,000,000	g	Avis Budget Rental Car Funding AESOP LLC		3.070		09/20/23		12,088
			Series - 2017 1A (Class A)
	2,500,000	g	Bowman Park CLO Ltd		3.545		11/23/25		2,496
			Series - 2014 1A (Class B2R)
	6,616,000		Capital Auto Receivables Asset Trust		1.620		03/20/19		6,623
			Series - 2015 4 (Class A2)
	3,500,000		Capital Auto Receivables Asset Trust		1.630		01/20/21		3,484
			Series - 2016 2 (Class A4)
	5,250,000		Capital Auto Receivables Asset Trust		1.690		03/20/21		5,222
			Series - 2016 3 (Class A4)
	9,248,870		Capital Auto Receivables Asset Trust		2.190		09/20/21		9,254
			Series - 0 1 (Class D)
	8,000,000	g	Capital Automotive REIT		3.660		10/15/44		7,795
			Series - 2014 1A (Class A)
	7,000,000	g,h	Capital Automotive REIT		3.870		04/15/47		6,998
			Series - 2017 1A (Class A1)
	30,000,000		Capital One Multi-Asset Execution Trust		2.430		01/15/25		30,000
			Series - 2017 A3 (Class A3)
	3,000,000		Carmax Auto Owner Trust		1.600		01/18/22		2,961
			Series - 2016 3 (Class A4)
	3,000,000		CarMax Auto Owner Trust		1.680		09/15/21		2,970
			Series - 2016 2 (Class A4)
	1,746,451	i,m	CCR, Inc		1.303		07/10/17		1,743
			Series - 2010 CX (Class C)
	2,500,000	g	Cent CLO 21 Ltd		3.500		07/27/26		2,510
			Series - 2014 21A (Class A2BR)
	710,052	i	Chase Funding Mortgage Loan Asset-Backed Certificates		5.700		02/26/35		635
			Series - 2004 2 (Class 1M2)
	734,469	i	CIT Group Home Equity Loan Trust		6.200		02/25/30		732
			Series - 2002 1 (Class AF6) (Step Bond)
	5,500,000		CNH Equipment Trust		1.630		08/15/21		5,493
			Series - 2016 B (Class A3)
	7,000,000		CNH Equipment Trust		1.440		12/15/21		6,936
			Series - 2016 C (Class A3)
	7,500,000		CNH Equipment Trust		2.480		02/15/24		7,566
			Series - 2017 A (Class A4)
	5,250,000	g	DaimlerChrysler Capital Auto Receivables Trust		1.640		07/15/21		5,233
			Series - 2016 BA (Class A3)
	7,840,000	g	DB Master Finance LLC		3.262		02/20/45		7,881
			Series - 2015 1A (Class A2I)
	6,860,000	g	DB Master Finance LLC		3.980		02/20/45		6,972
			Series - 2015 1A (Class A2II)
	5,525,000	g,i	DB/UBS Mortgage Trust		5.686		11/10/46		6,063
			Series - 2011 LC1A (Class C)
	5,000,000		Discover Card Execution Note Trust		2.390		07/15/24		5,025
			Series - 2017 A2 (Class A2)
	65,130,667	g	Domino’s Pizza Master Issuer LLC		5.216		01/25/42		65,980
			Series - 2012 1A (Class A2)
	16,787,500	g	Domino’s Pizza Master Issuer LLC		3.484		10/25/45		16,795
			Series - 2015 1A (Class A2I)
	2,468,750	g	Domino’s Pizza Master Issuer LLC		4.474		10/25/45		2,434
			Series - 2015 1A (Class A2II)

340

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	6,500,000	g,h	FOCUS Brands Funding LLC		3.857	%	04/30/47	$	6,506
			Series - 2017 1A (Class A2I)
	16,000,000		Ford Credit Auto Lease Trust		1.880		04/15/20		16,001
			Series - 2017 A (Class A3)
	2,692,340		Ford Credit Auto Owner Trust		1.150		07/15/18		2,692
			Series - 2013 A (Class B)
	18,000,000	g	Ford Credit Auto Owner Trust		2.150		07/15/26		18,040
			Series - 2015 1 (Class A)
	20,000,000	g	Ford Credit Auto Owner Trust		2.440		01/15/27		20,167
			Series - 2015 2 (Class A)
	3,500,000	g	Ford Credit Auto Owner Trust		2.310		08/15/27		3,499
			Series - 2016 1 (Class A)
	16,500,000	g	Ford Credit Auto Owner Trust		2.030		12/15/27		16,273
			Series - 2016 2 (Class A)
	12,000,000	g	Ford Credit Auto Owner Trust		2.620		08/15/28		12,058
			Series - 2017 1 (Class A)
	5,000,000		Ford Credit Floorplan Master Owner Trust		2.390		08/15/22		5,032
			Series - 2015 5 (Class A)
	12,000,000		GM Financial Automobile Leasing Trust		2.060		05/20/20		12,058
			Series - 2017 1 (Class A3)
	3,500,000	g	GMF Floorplan Owner Revolving Trust		1.960		05/17/21		3,505
			Series - 2016 1 (Class A1)
	10,000,000		GS Mortgage Securities Trust		2.777		10/10/49		9,927
			Series - 2016 GS3 (Class AAB)
	5,705,000	g	Hertz Vehicle Financing LLC		1.830		08/25/19		5,687
			Series - 2013 1A (Class A2)
	5,000,000	g	Hertz Vehicle Financing LLC		2.320		03/25/20		4,980
			Series - 2016 1A (Class A)
	4,875,000	g	Hertz Vehicle Financing LLC		2.270		07/25/20		4,837
			Series - 2016 3A (Class A)
	12,000,000	g	Hilton Grand Vacations Trust		2.660		12/26/28		11,990
			Series - 2017 AA (Class A)
	7,000,000	g,i	Hilton Grand Vacations Trust		2.960		12/26/28		6,988
			Series - 2017 AA (Class B)
	1,338,487	i	Irwin Home Equity Corp		1.742		02/25/34		1,305
			Series - 2005 A (Class A3)
	11,119,905	g	JG Wentworth XXII LLC		3.820		12/15/48		11,187
			Series - 2010 3A (Class A)
	4,000,000		John Deere Owner Trust		2.110		12/15/23		4,012
			Series - 2017 A (Class A4)
	1,989,045	i	Lehman XS Trust		1.232		02/25/36		1,954
			Series - 2006 1 (Class 1A1)
	5,401,624	i	Lehman XS Trust		6.500		06/25/46		4,193
			Series - 2006 13 (Class 2A1)
	5,000,000	g	Madison Park Funding XIII Ltd		3.300		01/19/25		4,935
			Series - 2014 13A (Class B2R)
	3,000,000	i	Mountain View CLO II Ltd		1.418		01/12/21		2,952
			Series - 2006 2X (Class B)
	7,000,000	g,i	Navistar Financial Dealer Note Master Owner Trust II		2.332		09/27/21		7,017
			Series - 2016 1 (Class A)
	29,484,758	g,i	New Residential Mortgage Loan Trust		4.000		02/25/57		30,403
			Series - 2017 1A (Class A1)

341

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,500,000	g	OHA Loan Funding LLC		3.600	%	10/20/26	$	3,492
			Series - 2014 1A (Class B2R)
	1,490,051	g	OneMain Direct Auto Receivables Trust		2.040		01/15/21		1,493
			Series - 2016 1A (Class A)
	266,054	g	OneMain Financial Issuance Trust		2.430		06/18/24		266
			Series - 2014 1A (Class A)
	8,840,000	g	Palisades Center Trust		3.357		04/13/33		8,828
			Series - 2016 PLSD (Class B)
	17,822	i	Renaissance Home Equity Loan Trust		1.862		08/25/33		17
			Series - 2003 2 (Class A)
	55,252	i	Residential Asset Securities Corp		6.489		10/25/30		56
			Series - 2001 KS2 (Class AI6)
	868,438	i	Residential Funding Mortgage Securities II, Inc		5.950		08/25/34		900
			Series - 2005 HI1 (Class A5) (Step Bond)
	408,195	i	Residential Funding Mortgage Securities II, Inc		6.010		02/25/36		410
			Series - 2006 HI1 (Class M1) (Step Bond)
	301,018	i	Residential Funding Mortgage Securities II, Inc		6.060		02/25/36		315
			Series - 2006 HI1 (Class M2) (Step Bond)
	703,661		Santander Drive Auto Receivables Trust		1.760		01/15/19		704
			Series - 2013 1 (Class C)
	5,830,000		Santander Drive Auto Receivables Trust		2.270		01/15/19		5,844
			Series - 2013 2013-1 (Class D)
	4,410,000		Santander Drive Auto Receivables Trust		2.570		03/15/19		4,435
			Series - 2013 2 (Class D)
	416,437		Santander Drive Auto Receivables Trust		1.810		04/15/19		417
			Series - 2013 3 (Class C)
	4,625,000		Santander Drive Auto Receivables Trust		2.420		04/15/19		4,647
			Series - 2013 3 (Class D)
	42,188,376		Santander Drive Auto Receivables Trust		2.250		06/17/19		42,301
			Series - 2013 5 (Class C)
	1,470,565		Santander Drive Auto Receivables Trust		1.410		07/15/19		1,471
			Series - 2016 1 (Class A2A)
	10,189,559	g	Santander Drive Auto Receivables Trust		3.120		10/15/19		10,239
			Series - 2013 A (Class C)
	5,325,000		Santander Drive Auto Receivables Trust		2.910		04/15/20		5,381
			Series - 2014 1 (Class D)
	4,500,000		Santander Drive Auto Receivables Trust		1.560		05/15/20		4,501
			Series - 2016 2 (Class A3)
	600,000		Santander Drive Auto Receivables Trust		1.960		05/15/20		601
			Series - 2015 5 (Class B)
	11,908,938		Santander Drive Auto Receivables Trust		2.130		08/17/20		11,939
			Series - 2014 3 (Class C)
	9,000,000		Santander Drive Auto Receivables Trust		1.770		09/15/20		8,993
			Series - 2017 1 (Class A3)
	600,000		Santander Drive Auto Receivables Trust		2.740		12/15/21		604
			Series - 2015 5 (Class C)
	6,000,000		Santander Drive Auto Receivables Trust		2.800		08/15/22		5,968
			Series - 2016 3 (Class D)
	8,000,000		Santander Drive Auto Receivables Trust		3.170		04/17/23		8,015
			Series - 2017 1 (Class D)
	4,177,051	g,i	Shackleton II CLO Ltd		2.240		10/20/23		4,177
			Series - 2012 2A (Class A1R)
	2,500,000	g	Shackleton II CLO Ltd		3.010		10/20/23		2,499
			Series - 2012 2A (Class B2R)

342

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	166,565	g	Sierra Receivables Funding Co LLC		1.590	%	11/20/29	$	166
			Series - 2013 1A (Class A)
	4,048,268	g	Sierra Receivables Funding Co LLC		2.700		10/20/30		4,056
			Series - 2013 3A (Class B)
	3,967,954	g	Sierra Receivables Funding Co LLC		2.050		06/20/31		3,962
			Series - 2014 2A (Class A)
	1,633,863	g	Sierra Receivables Funding Co LLC		2.400		06/20/31		1,632
			Series - 2014 2A (Class B)
	4,887,685	g	Sierra Receivables Funding Co LLC		2.400		03/22/32		4,900
			Series - 2015 1A (Class A)
	28,425,000	g	Sierra Receivables Funding Co LLC		2.910		03/20/34		28,596
			Series - 2017 1A (Class A)
	1,250,000	g,i	Sierra Receivables Funding Co LLC		3.200		03/20/34		1,257
			Series - 2017 1A (Class B)
	4,713,703	g	Sierra Timeshare Receivables Funding LLC		2.580		09/20/32		4,729
			Series - 2015 3A (Class A)
	1,119,644	g	Sierra Timeshare Receivables Funding LLC		3.080		09/20/32		1,123
			Series - 2015 3A (Class B)
	4,309,097	g	Sierra Timeshare Receivables Funding LLC		3.080		03/21/33		4,355
			Series - 2016 1A (Class A)
	10,372,803	g	Sierra Timeshare Receivables Funding LLC		2.330		07/20/33		10,371
			Series - 2016 2A (Class A)
	2,315,358	g	Sierra Timeshare Receivables Funding LLC		2.780		07/20/33		2,314
			Series - 2016 2A (Class B)
	10,643,310	g	Sierra Timeshare Receivables Funding LLC		2.430		10/20/33		10,524
			Series - 2016 3A (Class A)
	6,307,146	g	Sierra Timeshare Receivables Funding LLC		2.630		10/20/33		6,218
			Series - 2016 3A (Class B)
	10,395,774	g	SLM Student Loan Trust		3.740		02/15/29		10,600
			Series - 2011 B (Class A2)
	12,360,000	g	SMB Private Education Loan Trust		2.750		07/15/27		12,461
			Series - 2015 C (Class A2A)
	13,703,000	g	SMB Private Education Loan Trust		2.430		02/17/32		13,520
			Series - 2016 B (Class A2A)
	16,020,000	g	SMB Private Education Loan Trust		2.880		09/15/34		15,972
			Series - 2017 A (Class A2A)
	6,522,135	g	SoFi Professional Loan Program LLC		1.530		04/25/33		6,505
			Series - 2016 D (Class A2A)
	3,955,000	g	SoFi Professional Loan Program LLC		2.340		04/25/33		3,883
			Series - 2016 D (Class A2B)
	12,550,000	g	SoFi Professional Loan Program LLC		2.490		01/25/36		12,442
			Series - 2016 E (Class A2B)
	4,576,521	g	SoFi Professional Loan Program LLC		2.760		12/26/36		4,612
			Series - 2016 A (Class A2)
	3,150,000	g	SoFi Professional Loan Program LLC		1.550		03/26/40		3,144
			Series - 2017 A (Class A2A)
	1,925,000	g	SoFi Professional Loan Program LLC		2.400		03/26/40		1,894
			Series - 2017 A (Class A2B)
	25,500,000	g	SoFi Professional Loan Program LLC		1.830		05/25/40		25,498
			Series - 2017 B (Class A1FX)
	13,050,000	g	SoFi Professional Loan Program LLC		2.740		05/25/40		13,047
			Series - 2017 B (Class A2FX)

343

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,856,149	g	SolarCity LMC		4.590	%	04/20/44	$	3,814
			Series - 2014 1 (Class A)
	29,551,394	g	SpringCastle America Funding LLC		3.050		04/25/29		29,733
			Series - 2016 AA (Class A)
	13,183,750	g	Taco Bell Funding LLC		3.832		05/25/46		13,365
			Series - 2016 1A (Class A2I)
	7,154,000	g	Verizon Owner Trust		1.680		05/20/21		7,129
			Series - 2016 2A (Class A)
	10,000,000	g	Verizon Owner Trust		2.060		09/20/21		10,031
			Series - 2017 1A (Class A)
	1,890,000	g	Vornado DP LLC		5.280		09/13/28		2,018
			Series - 2010 VNO (Class C)
	526,961	g,m	Wachovia Amortization Controlled Heloc NIM		5.683		08/12/47		532
			Series - 2006 N1 (Class N1)
	666,954	g,i	Wachovia Loan Trust		1.342		05/25/35		657
			Series - 2005 SD1 (Class A)
	34,475,000	g	Wendys Funding LLC		3.371		06/15/45		34,635
			Series - 2015 1A (Class A2I)
	3,000,000		World Financial Network Credit Card Master Trust		2.030		04/15/25		2,955
			Series - 2016 A (Class A)
	5,932,000		World Omni Automobile Lease Securitization Trust		1.610		01/15/22		5,900
			Series - 2016 A (Class A4)
			TOTAL ASSET BACKED						1,007,608
OTHER MORTGAGE BACKED - 10.2%
	3,985,781	g	Banc of America Commercial Mortgage Trust		5.416		01/15/49		3,964
			Series - 2007 1 (Class AM)
	5,522,774	i	Banc of America Commercial Mortgage Trust		5.482		01/15/49		5,515
			Series - 2007 1 (Class AMFX)
	12,000,000		Banc of America Commercial Mortgage Trust		3.019		07/15/49		11,971
			Series - 2016 UB10 (Class ASB)
	3,500,000	g,i	Banc of America Commercial Mortgage Trust		5.821		02/10/51		3,307
			Series - 2007 4 (Class E)
	2,000,000	g,i	Banc of America Commercial Mortgage Trust		6.000		02/10/51		1,965
			Series - 2007 4 (Class D)
	15,000,000		BBCMS MORTGAGE TRUST		3.488		02/15/50		15,419
			Series - 2017 C1 (Class ASB)
	21,825,000	i	Bear Stearns Commercial Mortgage Securities Trust		5.928		09/11/42		21,873
			Series - 2007 T28 (Class AJ)
	2,500,000	i	Bear Stearns Commercial Mortgage Securities Trust		5.878		06/11/50		2,536
			Series - 2007 PW17 (Class AJ)
	2,500,000	i	CD Mortgage Trust		6.122		11/15/44		2,535
			Series - 2007 CD5 (Class B)
	4,500,000		CD Mortgage Trust		2.622		08/10/49		4,407
			Series - 2016 CD1 (Class ASB)
	8,000,000	g	CGBAM Commercial Mortgage Trust		3.516		04/10/28		8,100
			Series - 2015 SMRT (Class C)
	9,000,000	g	CGBAM Commercial Mortgage Trust		3.768		04/10/28		9,111
			Series - 2015 SMRT (Class D)
	6,541,310	i	CHL Mortgage Pass-Through Trust		3.312		02/20/35		6,569
			Series - 2004 HYB9 (Class 1A1)
	3,000,000	g	Citigroup Commercial Mortgage Trust		2.228		09/10/31		2,944
			Series - 2016 SMPL (Class A)

344

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,500,000	g	Citigroup Commercial Mortgage Trust		2.576	%	09/10/31	$	2,445
			Series - 2016 SMPL (Class B)
	4,017,365		Citigroup Commercial Mortgage Trust		1.506		05/10/49		3,970
			Series - 2016 C1 (Class A1)
	6,500,000		Citigroup Commercial Mortgage Trust		3.003		05/10/49		6,513
			Series - 2016 C1 (Class AAB)
	15,000,000	g,i	Citigroup Commercial Mortgage Trust		5.779		12/10/49		15,078
			Series - 2007 C6 (Class AMFX)
	7,095,000	i	Citigroup Commercial Mortgage Trust		5.899		12/10/49		7,181
			Series - 2007 C6 (Class AM)
	16,626,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		16,918
			Series - 2007 C3 (Class AJ)
	32,585,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		33,091
			Series - 2007 C3 (Class AM)
	5,640,000	i	COBALT CMBS Commercial Mortgage Trust		5.526		04/15/47		5,669
			Series - 2007 C2 (Class AMFX)
	671,841		COMM Mortgage Trust		1.399		02/10/48		668
			Series - 2015 LC19 (Class A1)
	14,500,000		COMM Mortgage Trust		3.421		07/10/48		15,034
			Series - 2015 LC21 (Class ASB)
	5,000,000	g,i	COMM Mortgage Trust		1.548		12/10/49		4,936
			Series - 2007 C9 (Class AJFL)
	2,180,000	i	COMM Mortgage Trust		5.650		12/10/49		2,198
			Series - 2007 C9 (Class AJ)
	20,271,351	i	COMM Mortgage Trust		5.796		12/10/49		20,340
			Series - 2007 C9 (Class B)
	1,000,000	i	COMM Mortgage Trust		5.808		12/10/49		1,002
			Series - 2007 C9 (Class C)
	3,500,000	i	COMM Mortgage Trust		5.813		12/10/49		3,492
			Series - 2007 C9 (Class F)
	4,044,580		COMM Mortgage Trust		1.667		07/10/50		4,044
			Series - 2015 PC1 (Class A1)
	10,310,288	i	Connecticut Avenue Securities		3.132		09/25/28		10,451
			Series - 2016 C02 (Class 1M1)
	13,366,639	i	Connecticut Avenue Securities		2.332		01/25/29		13,441
			Series - 2016 C05 (Class 2M1)
	38,475,479	i	Connecticut Avenue Securities		2.432		01/25/29		38,896
			Series - 2016 C04 (Class 1M1)
	8,785,607	i	Connecticut Avenue Securities		2.282		04/25/29		8,865
			Series - 2016 C06 (Class 1M1)
	12,865,150	g,i	Connecticut Avenue Securities		2.165		07/25/29		12,927
			Series - 2017 C01 (Class 1M1)
	12,133,000	i	Credit Suisse Commercial Mortgage Trust		5.903		09/15/39		12,198
			Series - 2007 C4 (Class A1AJ)
	15,500,000	i	Credit Suisse Commercial Mortgage Trust		5.949		09/15/39		15,661
			Series - 2007 C4 (Class AJ)
	9,000,000	i	Credit Suisse Commercial Mortgage Trust		5.953		09/15/39		9,058
			Series - 2007 C4 (Class A1AM)
	4,449,285	i	Credit Suisse Commercial Mortgage Trust		1.173		01/15/49		4,447
			Series - 2007 C2 (Class AMFL)
	22,500,000	i	Credit Suisse Commercial Mortgage Trust		5.625		01/15/49		22,962
			Series - 2007 C2 (Class AJ)
	6,144,500	g,i	Credit Suisse Commercial Mortgage Trust		5.751		01/15/49		7,610
			Series - 2007 C2 (Class B)

345

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	11,500,000	g	Credit Suisse Mortgage Capital Certificates		5.626	%	05/15/23	$	12,267
			Series - 2006 OMA (Class D)
	5,500,000		CSAIL Commercial Mortgage Trust		3.314		11/15/49		5,616
			Series - 2016 C7 (Class ASB)
	12,750,261		CSAIL Commercial Mortgage Trust		1.454		06/15/57		12,677
			Series - 2015 C2 (Class A1)
	11,000,000		DBJPM Mortgage Trust		2.756		09/10/49		10,900
			Series - 2016 C3 (Class ASB)
	30,000,000	g	DBUBS Mortgage Trust		4.537		07/10/44		32,104
			Series - 2011 LC2A (Class A4)
	3,000,000	g,i	DBUBS Mortgage Trust		4.998		07/10/44		3,240
			Series - 2011 LC2A (Class B)
	5,000,000	g,i	DBUBS Mortgage Trust		5.543		07/10/44		5,434
			Series - 2011 LC2A (Class C)
	2,636,136	g,i	DBUBS Mortgage Trust		2.208		07/12/44		2,650
			Series - 2011 LC2A (Class A3FL)
	2,084,000	g,i	DBUBS Mortgage Trust		5.346		08/10/44		2,272
			Series - 2011 LC3A (Class B)
	4,962,472	g	Four Times Square Trust Commercial Mortgage Pass-Through Certificates		5.401		12/13/28		5,450
			Series - 2006 4TS (Class A)
	19,679,135	i	GE Commercial Mortgage Corp		5.606		12/10/49		19,564
			Series - 2007 C1 (Class AM)
	3,665,000	i	GMAC Commercial Mortgage Securities, Inc		4.984		12/10/41		3,751
			Series - 2004 C3 (Class C)
	21,180,000	g	GRACE Mortgage Trust		3.369		06/10/28		21,935
			Series - 2014 GRCE (Class A)
	5,000,000	g	GRACE Mortgage Trust		3.520		06/10/28		5,146
			Series - 2014 GRCE (Class B)
	4,240,252	i	Greenwich Capital Commercial Funding Corp		6.013		07/10/38		4,238
			Series - 2006 GG7 (Class AM)
	28,000,000	i	Greenwich Capital Commercial Funding Corp		5.867		12/10/49		28,331
			Series - 2007 GG11 (Class AM)
	3,000,000	g	GS Mortgage Securities Corp II		2.933		06/05/31		3,045
			Series - 2012 SHOP (Class A)
	15,943,000	g	GS Mortgage Securities Corp II		3.551		04/10/34		16,678
			Series - 2012 ALOH (Class A)
	5,910,000	g,i	GS Mortgage Securities Corp II		5.184		12/10/43		6,377
			Series - 2010 C2 (Class B)
	6,000,000	g	Hudson Yards Mortgage Trust		2.835		08/10/38		5,781
			Series - 2016 10HY (Class A)
	7,250,000	g,i	Hudson Yards Mortgage Trust		2.977		08/10/38		6,908
			Series - 2016 10HY (Class C)
	2,500,000	g,i	Hudson Yards Mortgage Trust		2.977		08/10/38		2,422
			Series - 2016 10HY (Class B)
	1,034,088	i	Impac CMB Trust		1.642		03/25/35		952
			Series - 2004 11 (Class 2A1)
	3,231,977	i	JP Morgan Chase Commercial Mortgage Securities Trust		4.911		07/15/42		3,229
			Series - 2005 LDP2 (Class C)
	1,805,767	i	JP Morgan Chase Commercial Mortgage Securities Trust		5.520		05/15/45		1,804
			Series - 2006 LDP8 (Class B)

346

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	12,830,000	g	JP Morgan Chase Commercial Mortgage Securities Trust		4.717	%	02/15/46	$	13,827
			Series - 2011 C3 (Class A4)
	8,145,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.360		02/15/46		8,622
			Series - 2011 C3 (Class C)
	1,294,636	g	JP Morgan Chase Commercial Mortgage Securities Trust		4.106		07/15/46		1,324
			Series - 2011 C4 (Class A3)
	8,825,000	g	JP Morgan Chase Commercial Mortgage Securities Trust		4.388		07/15/46		9,434
			Series - 2011 C4 (Class A4)
	15,000,000	g	JP Morgan Chase Commercial Mortgage Securities Trust		4.801		07/15/46		16,007
			Series - 2011 C4 (Class B)
	6,455,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.397		07/15/46		6,929
			Series - 2011 C4 (Class C)
	8,528,366		JP Morgan Chase Commercial Mortgage Securities Trust		1.324		08/15/49		8,402
			Series - 2016 JP2 (Class A1)
	7,000,000		JP Morgan Chase Commercial Mortgage Securities Trust		2.713		08/15/49		6,928
			Series - 2016 JP2 (Class ASB)
	3,695,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		6.192		02/15/51		3,748
			Series - 2007 LD12 (Class AM)
	2,545,761	g,i	JP Morgan Mortgage Trust		2.682		06/25/46		2,537
			Series - 2016 2 (Class A1)
	2,303,336	g,i	JP Morgan Mortgage Trust		2.860		06/25/46		2,297
			Series - 2016 2 (Class 2A1)
	117,166,020	i	JPMBB Commercial Mortgage Securities Trust		1.501		11/15/48		7,930
			Series - 2015 C32 (Class XA)
	6,148,000		JPMDB Commercial Mortgage Securities Trust		3.492		03/15/50		6,357
			Series - 2017 C5 (Class ASB)
	274,360	i	LB-UBS Commercial Mortgage Trust		5.533		02/15/40		274
			Series - 2007 C1 (Class C)
	4,150,000	i	LB-UBS Commercial Mortgage Trust		5.563		02/15/40		4,134
			Series - 2007 C1 (Class D)
	750,000	i	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		760
			Series - 2007 C6 (Class AM)
	7,225,000	g	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		7,225
			Series - 2007 C6 (Class AMFL)
	12,689,055	g,i	LVII Resecuritization Trust		3.611		07/25/47		12,697
			Series - 2015 A (Class A)
	2,205,000	i	Merrill Lynch Mortgage Trust		6.301		02/12/51		2,238
			Series - 0 C1 (Class AJA)
	5,880,000	g,i	Merrill Lynch Mortgage Trust		6.301		02/12/51		5,964
			Series - 2008 C1 (Class C)
	2,210,442	g,i	Merrill Lynch Mortgage Trust		6.301		02/12/51		2,244
			Series - 0 C1 (Class AJAF)
	19,995,000	i	ML-CFC Commercial Mortgage Trust		5.526		03/12/51		20,016
			Series - 2007 6 (Class AM)
	3,200,000		Morgan Stanley Bank of America Merrill Lynch Trust		2.469		02/15/46		3,213
			Series - 2013 C7 (Class AAB)
	4,500,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.194		10/15/47		4,610
			Series - 2014 C18 (Class A2)
	12,400,000	g	Morgan Stanley Capital I Trust		2.695		01/11/32		12,468
			Series - 2013 WLSR (Class A)
	210,074	g,i	Morgan Stanley Capital I Trust		6.078		08/12/41		210
			Series - 2006 T23 (Class B)
	5,683,950	i	Morgan Stanley Capital I Trust		5.389		11/12/41		5,677
			Series - 2006 HQ10 (Class AJ)

347

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	450,975	i	Morgan Stanley Capital I Trust		5.832	%	07/12/44	$	451
			Series - 2006 HQ9 (Class B)
	3,450,000	g,i	Morgan Stanley Capital I Trust		5.433		09/15/47		3,678
			Series - 2011 C1 (Class D)
	8,650,000	i	Morgan Stanley Capital I Trust		5.678		04/12/49		8,682
			Series - 2007 HQ12 (Class B)
	13,800,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		13,055
			Series - 2007 IQ15 (Class AJ)
	11,000,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		11,067
			Series - 2007 IQ15 (Class AM)
	12,121,000	g,i	Morgan Stanley Capital I Trust		6.104		06/11/49		8,927
			Series - 2007 IQ15 (Class B)
	8,750,000	i	Morgan Stanley Capital I Trust		6.080		12/12/49		8,941
			Series - 2007 IQ16 (Class AMA)
	12,000,000	i	Morgan Stanley Capital I Trust		6.110		12/12/49		11,081
			Series - 2007 IQ16 (Class AJFX)
	7,330,000	i	Morgan Stanley Capital I Trust		6.115		12/12/49		6,808
			Series - 2007 IQ16 (Class AJ)
	7,205,000	i	Morgan Stanley Capital I Trust		6.281		12/12/49		7,349
			Series - 2007 IQ16 (Class AM)
	4,229,000	i	Morgan Stanley Capital I Trust		6.319		12/12/49		3,829
			Series - 2007 IQ16 (Class AJA)
	609,793		Morgan Stanley Capital I Trust		4.770		07/15/56		607
			Series - 0 IQ9 (Class AJ)
	5,000,000	g	RBS Commercial Funding, Inc Trust		3.260		03/11/31		4,949
			Series - 2013 SMV (Class A)
	11,232,850	g,i	Sequoia Mortgage Trust		3.500		03/25/47		11,308
			Series - 2017 2 (Class A1)
	7,480,320	g,i	Sequoia Mortgage Trust		3.500		03/25/47		7,596
			Series - 2017 2 (Class A4)
	14,500,000	g,i	Sequoia Mortgage Trust		3.500		04/25/47		14,711
			Series - 2017 3 (Class A4)
	4,000,000	i	Structured Agency Credit Risk Debt Note (STACR)		3.182		09/25/24		4,116
			Series - 2014 HQ2 (Class M2)
	2,377,568	i	Structured Agency Credit Risk Debt Note (STACR)		3.382		01/25/25		2,392
			Series - 2015 DN1 (Class M2)
	583,137	i	Structured Agency Credit Risk Debt Note (STACR)		2.082		05/25/25		585
			Series - 2015 HQ2 (Class M1)
	16,250,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.932		05/25/25		16,591
			Series - 2015 HQ2 (Class M2)
	13,885,988	i	Structured Agency Credit Risk Debt Note (STACR)		2.432		07/25/28		13,949
			Series - 2016 DNA1 (Class M1)
	1,750,000	i	Structured Agency Credit Risk Debt Note (STACR)		3.182		10/25/28		1,782
			Series - 2016 DNA2 (Class M2)
	15,538,374	i	Structured Agency Credit Risk Debt Note (STACR)		2.082		12/25/28		15,597
			Series - 2016 DNA3 (Class M1)
	8,618,460	i	Structured Agency Credit Risk Debt Note (STACR)		1.782		03/25/29		8,636
			Series - 2016 DNA4 (Class M1)
	2,750,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.282		03/25/29		2,758
			Series - 2016 DNA4 (Class M2)
	9,165,806	i	Structured Agency Credit Risk Debt Note (STACR)		2.182		07/25/29		9,201
			Series - 2017 DNA1 (Class M1)

348

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,825,488	i	Wachovia Bank Commercial Mortgage Trust		5.825	%	07/15/45	$	2,850
			Series - 2006 C27 (Class AJ)
	32,910,000	i	Wachovia Bank Commercial Mortgage Trust		5.818		05/15/46		33,441
			Series - 2007 C34 (Class AM)
	7,338,000	i	Wachovia Bank Commercial Mortgage Trust		6.132		05/15/46		7,363
			Series - 2007 C34 (Class AJ)
	3,328,000	i	Wachovia Bank Commercial Mortgage Trust		6.214		05/15/46		3,317
			Series - 2007 C34 (Class B)
	6,230,312	i	Wachovia Bank Commercial Mortgage Trust		5.591		04/15/47		6,263
			Series - 2007 C31 (Class AM)
	8,657,290	i	Wachovia Bank Commercial Mortgage Trust		5.660		04/15/47		8,686
			Series - 2007 C31 (Class AJ)
	2,000,000	i	Wachovia Bank Commercial Mortgage Trust		5.700		04/15/47		1,995
			Series - 2007 C31 (Class B)
	88,795,000	g	Wachovia Bank Commercial Mortgage Trust		5.703		06/15/49		89,685
			Series - 2007 C32 (Class AMFX)
	49,550,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		48,556
			Series - 2007 C32 (Class AJ)
	2,794,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		2,690
			Series - 2007 C32 (Class B)
	33,600,000	i	Wachovia Bank Commercial Mortgage Trust		5.953		02/15/51		33,863
			Series - 2007 C33 (Class AM)
	3,581,050		Wells Fargo Commercial Mortgage Trust		1.392		07/15/48		3,538
			Series - 2016 C35 (Class A1)
	10,000,000		Wells Fargo Commercial Mortgage Trust		2.788		07/15/48		9,895
			Series - 2016 C35 (Class ASB)
	865,350		Wells Fargo Commercial Mortgage Trust		1.321		08/15/49		851
			Series - 2016 BNK1 (Class A1)
	15,000,000		Wells Fargo Commercial Mortgage Trust		2.514		08/15/49		14,644
			Series - 2016 BNK1 (Class ASB)
	15,000,000		Wells Fargo Commercial Mortgage Trust		2.825		10/15/49		14,848
			Series - 2016 LC24 (Class ASB)
	8,389,000		Wells Fargo Commercial Mortgage Trust		2.827		11/15/49		8,302
			Series - 2016 NXS6 (Class ASB)
	7,500,000		Wells Fargo Commercial Mortgage Trust		3.446		03/15/50		7,717
			Series - 2017 RB1 (Class ASB)
	7,250,000		Wells Fargo Commercial Mortgage Trust		3.185		03/15/59		7,348
			Series - 2016 C33 (Class ASB)
	6,000,000		Wells Fargo Commercial Mortgage Trust		3.749		03/15/59		6,108
			Series - 2016 C33 (Class AS)
	1,250,000		Wells Fargo Commercial Mortgage Trust		2.933		11/15/59		1,246
			Series - 2016 C36 (Class ASB)
	4,725,000	g,i	Wells Fargo Mortgage Backed Securities Trust		5.276		11/15/43		5,074
			Series - 2010 C1 (Class B)
	55,000,000	g,i	WFRBS Commercial Mortgage Trust		4.902		06/15/44		60,003
			Series - 2011 C4 (Class A4)
			TOTAL OTHER MORTGAGE BACKED						1,375,083
			TOTAL STRUCTURED ASSETS						2,382,691
			(Cost $2,401,365)
			TOTAL BONDS						13,118,301
			(Cost $13,104,257)

349

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

								VALUE
SHARES			COMPANY					(000)
PREFERRED STOCKS - 0.1%
BANKS - 0.1%
	470,597	*	Federal Home Loan Mortgage Corp					$	2,941
	1,527,061	*	Federal National Mortgage Association						10,064
			TOTAL BANKS						13,005
			TOTAL PREFERRED STOCKS						13,005
			(Cost $49,941)
							MATURITY
PRINCIPAL			ISSUER	RATE			DATE
SHORT-TERM INVESTMENTS - 5.5%
GOVERNMENT AGENCY DEBT - 0.9%
$	14,249,000		Federal Home Loan Bank (FHLB)		0.400	%	04/03/17		14,249
	53,800,000		FHLB		0.700		04/05/17		53,798
	50,000,000		FHLB		0.520		04/06/17		49,997
			TOTAL GOVERNMENT AGENCY DEBT						118,044
TREASURY DEBT - 4.6%
	4,100,000		United States Treasury Bill		0.481-0.557		04/06/17		4,100
	84,000,000		United States Treasury Bill		0.600-0.729		04/13/17		83,983
	99,900,000		United States Treasury Bill		0.463-0.705		04/20/17		99,866
	297,470,000		United States Treasury Bill		0.490-0.741		04/27/17		297,327
	50,000,000		United States Treasury Bill		0.691		07/06/17		49,901
	100,000,000		United States Treasury Bill		0.767		07/13/17		99,787
			TOTAL TREASURY DEBT						634,964
			TOTAL SHORT-TERM INVESTMENTS						753,008
			(Cost $753,008)
			TOTAL INVESTMENTS - 103.5%						13,977,924
			(Cost $14,000,405)
			OTHER ASSETS & LIABILITIES, NET - (3.5)%						(478,727	)
			NET ASSETS - 100.0%					$	13,499,197

350

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

Abbreviation(s):
AUD	Australian Dollar
BRL	Brazilian Real
CAD	Canadian Dollar
COP	Colombian Peso
DKK	Danish Krone
EUR	Euro
GBP	British Pound
HUF	Hungarian Forint
IDR	Indonesian Rupiah
ILS	Israeli New Sheqel
INR	Indian Rupee
JPY	Japanese Yen
KRW	South Korean Won
MXN	Mexican Peso
NOK	Norwegian Krone
NZD	New Zealand Dollar
PEN	Peruvian Nuevo Sol
PLN	Polish Zloty
REIT	Real Estate Investment Trust
RUB	Russian Ruble
SEK	Swedish Krone
TRY	Turkish Lira
ZAR	South African Rand

*	Non-income producing
^	Amount represents less than $1,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/17, the aggregate value of these securities was $2,202,529,000 or 16.3% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
m	Indicates a security that has been deemed illiquid.
o	Payment in Kind Bond
q	In default
w	All or a portion of these securities have been segregated to cover collateral requirements on mortgage dollar rolls.
	Cost amounts are in thousands.

351

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

COLLEGE RETIREMENT EQUITIES FUND

INFLATION-LINKED BOND ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2017

PRINCIPAL			ISSUER	VALUE (000)
GOVERNMENT BONDS - 99.6%
AGENCY SECURITIES - 0.8%
			Montefiore Medical Center
$	17,635,000		2.895%, 04/20/32	$	17,076
			Private Export Funding Corp (PEFCO)
	3,500,000		2.300%, 09/15/20		3,542
	3,000,000		3.250%, 06/15/25		3,089
			Reliance Industries Ltd
	5,921,053		2.444%, 01/15/26		5,914
			Tunisia Government AID Bonds
	4,375,000		1.416%, 08/05/21		4,248
			Ukraine Government AID Bonds
	3,500,000		1.847%, 05/29/20		3,506
	15,000,000		1.471%, 09/29/21		14,650
			TOTAL AGENCY SECURITIES		52,025
MORTGAGE BACKED - 0.2%
			Government National Mortgage Association (GNMA)
	13,446,764		3.650%, 02/15/32		14,095
			TOTAL MORTGAGE BACKED		14,095
U.S. TREASURY SECURITIES - 98.6%
		k	United States Treasury Inflation Indexed Bonds
	84,159,905		1.625%, 01/15/18		85,898
	360,368,223		0.125%, 04/15/18		363,421
	169,563,552		1.375%, 07/15/18		175,379
	149,837,625		2.125%, 01/15/19		157,619
	360,583,680		0.125%, 04/15/19		365,870
	139,864,530		1.875%, 07/15/19		148,571
	156,401,861		1.375%, 01/15/20		164,737
	452,554,470		0.125%, 04/15/20		459,316
	246,740,679		1.250%, 07/15/20		261,080
	334,013,306		1.125%, 01/15/21		351,661
	346,253,960		0.125%, 04/15/21		349,811
	350,968,050		0.625%, 07/15/21		363,993
	349,685,266		0.125%, 01/15/22		352,274
	408,590,730		0.125%, 07/15/22		411,696
	282,950,340		0.125%, 01/15/23		282,781
	170,057,900		0.375%, 07/15/23		172,765
	90,788,860		0.625%, 01/15/24		92,938
	97,139,400		0.125%, 07/15/24		96,237
	86,106,720		0.250%, 01/15/25		85,383
	260,520,993		2.375%, 01/15/25		300,485
	90,097,040		0.375%, 07/15/25		90,337
	118,019,055		0.625%, 01/15/26		120,193
	227,316,006		2.000%, 01/15/26		257,953
	114,457,700		0.125%, 07/15/26		111,694
	102,018,665		0.375%, 01/15/27		101,600

352

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

PRINCIPAL		ISSUER	VALUE (000)
$	163,977,990	2.375%, 01/15/27	$	193,859
	194,006,556	1.750%, 01/15/28		219,440
	97,611,629	3.625%, 04/15/28		129,775
	172,906,965	2.500%, 01/15/29		211,445
	138,962,462	3.875%, 04/15/29		192,231
		TOTAL U.S. TREASURY SECURITIES		6,670,442
		TOTAL GOVERNMENT BONDS
		(Cost $6,448,588)		6,736,562
SHORT-TERM INVESTMENTS - 0.1%
GOVERNMENT AGENCY DEBT - 0.1%
		Federal Home Loan Bank (FHLB)
	8,300,000	0.500%, 04/03/17		8,300
				8,300
		TOTAL SHORT-TERM INVESTMENTS		8,300
		(Cost $8,300)
		TOTAL INVESTMENTS - 99.7%		6,744,862
		(Cost $6,456,888)
		OTHER ASSETS AND LIABILITIES, NET - 0.3%		15,374
		NET ASSETS - 100.0%	$	6,760,236

k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
	Cost amounts are in thousands.

353

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND

SOCIAL CHOICE ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2017

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
BANK LOAN OBLIGATIONS - 0.5%
CAPITAL GOODS - 0.0%
$	2,594,236	i	Manitowoc Foodservice, Inc		4.000	%	03/03/23	$	2,617
			TOTAL CAPITAL GOODS						2,617
ENERGY - 0.1%
	781,801	i	Granite Acquisition, Inc		5.147		12/17/21		788
	17,368,415	i	Granite Acquisition, Inc		5.147		12/19/21		17,504
			TOTAL ENERGY						18,292
MEDIA - 0.1%
	6,226,926	i	Charter Communications Operating LLC		2.990		01/14/22		6,239
	3,143,250	i	Charter Communications Operating LLC		3.232		01/15/24		3,157
			TOTAL MEDIA						9,396
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	9,950,000	i	MTS Systems Corp		5.080		07/05/23		10,062
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						10,062
UTILITIES - 0.2%
	8,963,424	i	ExGen Renewables I LLC		5.272		02/06/21		9,008
	14,794,057	i	Terra-Gen Finance Co LLC		5.250		12/09/21		13,943
			TOTAL UTILITIES						22,951
			TOTAL BANK LOAN OBLIGATIONS						63,318
			(Cost $63,461)
BONDS - 38.9%
CORPORATE BONDS - 11.4%
AUTOMOBILES & COMPONENTS - 0.2%
	1,955,000	g	Adient Global Holdings Ltd		4.875		08/15/26		1,918
	7,550,000		Delphi Automotive plc		3.150		11/19/20		7,701
	5,700,000	e	Ford Motor Co		4.346		12/08/26		5,804
	7,750,000	e	Ford Motor Co		4.750		01/15/43		7,279
	4,675,000	e	Magna International, Inc		3.625		06/15/24		4,769
			TOTAL AUTOMOBILES & COMPONENTS						27,471
BANKS - 2.6%
	40,272,000	e	Bank of America Corp		1.950		05/12/18		40,359
	11,175,000		Bank of America Corp		2.151		11/09/20		11,073
	21,500,000	e,g	Bank of Montreal		2.500		01/11/22		21,547
	18,500,000	e	Bank of Nova Scotia		2.125		09/11/19		18,585
	12,000,000		Bank of Nova Scotia		1.875		04/26/21		11,764

354

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	12,000,000	g	Bank of Nova Scotia		1.875	%	09/20/21	$	11,765
	15,000,000	i	Citizens Bank NA		1.604		03/02/20		15,033
	1,350,000		Citizens Financial Group, Inc		2.375		07/28/21		1,331
	7,025,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		3.950		11/09/22		7,208
	2,710,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		4.375		08/04/25		2,779
	7,275,000		Cooperatieve Rabobank UA		2.750		01/10/22		7,312
	4,950,000		Cooperatieve Rabobank UA		3.750		07/21/26		4,836
	9,400,000		Discover Bank		3.450		07/27/26		9,023
	5,000,000	e,g	DNB Boligkreditt AS.		2.000		05/28/20		4,976
	10,000,000		First Niagara Financial Group, Inc		6.750		03/19/20		11,222
	20,000,000	g	ING Bank NV		2.000		11/26/18		19,986
	11,500,000	g	Intesa Sanpaolo S.p.A		5.017		06/26/24		10,818
	10,000,000	g	Intesa Sanpaolo S.p.A		5.710		01/15/26		9,690
	6,300,000		KeyBank NA		2.350		03/08/19		6,349
	4,644,000	i	Manufacturers & Traders Trust Co		2.198		12/28/20		4,617
	9,076,000	i	Manufacturers & Traders Trust Co		1.695		12/01/21		8,921
	1,605,000		Manufacturers & Traders Trust Co		2.900		02/06/25		1,578
	18,775,000		Mitsubishi UFJ Financial Group, Inc		2.527		09/13/23		18,134
	18,257,000		People’s United Financial, Inc		3.650		12/06/22		18,584
	8,245,000		PNC Bank NA		2.950		01/30/23		8,275
	8,450,000		Royal Bank of Canada		1.875		02/05/20		8,408
	12,000,000		Royal Bank of Canada		2.100		10/14/20		11,952
	14,500,000	g	Skandinaviska Enskilda Banken AB		1.375		05/29/18		14,446
	12,500,000		SVB Financial Group		3.500		01/29/25		12,216
	5,000,000		Toronto-Dominion Bank		1.800		07/13/21		4,865
	12,000,000	g	Toronto-Dominion Bank		2.500		01/18/22		12,020
			TOTAL BANKS						349,672
CAPITAL GOODS - 0.6%
	2,500,000		3M Co		6.375		02/15/28		3,225
	1,975,000		Anixter, Inc		5.125		10/01/21		2,054
	4,575,000		Anixter, Inc		5.500		03/01/23		4,747
	6,250,000		CNH Industrial Capital LLC		3.875		10/15/21		6,253
	4,600,000		Ingersoll-Rand Global Holding Co Ltd		4.250		06/15/23		4,898
	3,250,000		Johnson Controls International plc		5.000		03/30/20		3,489
	10,875,000	g	LafargeHolcim Finance US LLC		4.750		09/22/46		10,884
	5,155,000		Pall Corp		5.000		06/15/20		5,606
	5,625,000		Parker-Hannifin Corp		4.200		11/21/34		5,785
	6,980,000		Pentair Finance S.A.		2.650		12/01/19		7,026
	6,400,000		Rockwell Automation, Inc		2.050		03/01/20		6,376
	3,300,000		Rockwell Collins, Inc		3.100		11/15/21		3,352
	6,125,000		Rockwell Collins, Inc		3.700		12/15/23		6,316
	4,187,000		Roper Industries, Inc		2.050		10/01/18		4,200
	2,475,000		Roper Technologies, Inc		3.800		12/15/26		2,486
			TOTAL CAPITAL GOODS						76,697
COMMERCIAL & PROFESSIONAL SERVICES - 0.2%
	5,300,000		Air Lease Corp		2.125		01/15/18		5,310
	9,075,000	e	Air Lease Corp		3.875		04/01/21		9,407
	6,525,000		Air Lease Corp		4.250		09/15/24		6,754
	2,730,000		Waste Management, Inc		4.600		03/01/21		2,940
	3,475,000		Waste Management, Inc		3.900		03/01/35		3,458
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						27,869

355

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
CONSUMER DURABLES & APPAREL - 0.0%
$	3,990,000		Whirlpool Corp		1.650	%	11/01/17	$	3,991
			TOTAL CONSUMER DURABLES & APPAREL						3,991
CONSUMER SERVICES - 0.5%
	4,000,000		American National Red Cross		5.567		11/15/17		4,085
	10,000,000		Henry J Kaiser Family Foundation		3.356		12/01/25		9,757
	1,250,000		McDonald’s Corp		5.000		02/01/19		1,319
	19,000,000		Metropolitan Museum of Art		3.400		07/01/45		17,439
	7,550,000		Nature Conservancy		6.300		07/01/19		8,138
	17,500,000		New York Public Library Astor Lenox & Tilden Foundations		4.305		07/01/45		17,454
	5,145,000		Salvation Army		5.637		09/01/26		5,616
			TOTAL CONSUMER SERVICES						63,808
DIVERSIFIED FINANCIALS - 0.8%
	11,375,000	e	American Express Credit Corp		2.200		03/03/20		11,407
	11,250,000		American Express Credit Corp		2.700		03/03/22		11,239
	2,675,000		Bank of New York Mellon Corp		5.450		05/15/19		2,871
	2,169,000		Discover Financial Services		3.850		11/21/22		2,211
	9,000,000	g	EDP Finance BV		4.125		01/15/20		9,240
	9,500,000	e,g	EDP Finance BV		5.250		01/14/21		10,143
	11,700,000		Ford Motor Credit Co LLC		3.200		01/15/21		11,824
	2,300,000		Legg Mason, Inc		3.950		07/15/24		2,325
	37,250,000		Morgan Stanley		2.200		12/07/18		37,400
	3,314,000		Northern Trust Corp		3.375		08/23/21		3,447
	9,750,000	g	RCI Banque S.A.		3.500		04/03/18		9,897
	4,525,000		Unilever Capital Corp		2.000		07/28/26		4,118
			TOTAL DIVERSIFIED FINANCIALS						116,122
ENERGY - 0.6%
	4,175,000		Apache Corp		3.250		04/15/22		4,196
	8,450,000		EOG Resources, Inc		3.900		04/01/35		8,087
	4,450,000		EOG Resources, Inc		5.100		01/15/36		4,772
	1,000,000		Marathon Oil Corp		2.700		06/01/20		993
	3,025,000		National Oilwell Varco, Inc		1.350		12/01/17		3,017
	17,292,000		National Oilwell Varco, Inc		3.950		12/01/42		13,995
	2,500,000		Noble Energy, Inc		8.250		03/01/19		2,781
	3,290,000	e	Noble Energy, Inc		5.050		11/15/44		3,355
	9,000,000		Phillips 66		4.650		11/15/34		9,110
	5,300,000	e	Southwestern Energy Co		5.800		01/23/20		5,350
	5,000,000		Spectra Energy Capital LLC		5.650		03/01/20		5,351
	9,500,000		Statoil ASA		3.150		01/23/22		9,724
	4,500,000	e	Statoil ASA		2.650		01/15/24		4,419
	5,932,000		Statoil ASA		3.950		05/15/43		5,735
	5,000,000	g	Texas Eastern Transmission LP		4.125		12/01/20		5,240
			TOTAL ENERGY						86,125
FOOD & STAPLES RETAILING - 0.1%
	9,800,000	e	Starbucks Corp		2.450		06/15/26		9,389
			TOTAL FOOD & STAPLES RETAILING						9,389

356

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
HEALTH CARE EQUIPMENT & SERVICES - 0.1%
$	3,250,000	e	Laboratory Corp of America Holdings		2.625	%	02/01/20	$	3,267
	9,000,000		Laboratory Corp of America Holdings		3.200		02/01/22		9,052
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						12,319
INSURANCE - 0.3%
	15,000,000	i	Prudential Financial, Inc		5.200		03/15/44		15,401
	7,450,000	i	Prudential Financial, Inc		5.375		05/15/45		7,797
	10,550,000	g	Swiss Re Treasury US Corp		2.875		12/06/22		10,421
	8,687,000	g	Swiss Re Treasury US Corp		4.250		12/06/42		8,576
			TOTAL INSURANCE						42,195
MATERIALS - 0.6%
	2,275,000		Ball Corp		5.000		03/15/22		2,400
	8,930,000		Ball Corp		4.000		11/15/23		8,941
	5,750,000		Domtar Corp		4.400		04/01/22		6,014
	2,300,000		Eastman Chemical Co		5.500		11/15/19		2,492
	20,000,000	e	Fibria Overseas Finance Ltd		5.500		01/17/27		20,043
	7,500,000		International Paper Co		5.000		09/15/35		7,960
	5,000,000		International Paper Co		6.000		11/15/41		5,791
	4,600,000		International Paper Co		4.800		06/15/44		4,579
	17,000,000	g	Inversiones CMPC S.A.		4.375		04/04/27		16,915
	5,000,000		MeadWestvaco Corp		7.375		09/01/19		5,583
	2,500,000	g	Sealed Air Corp		5.500		09/15/25		2,650
			TOTAL MATERIALS						83,368
MEDIA - 0.3%
	3,125,000		Charter Communications Operating LLC		3.579		07/23/20		3,216
	14,850,000		Charter Communications Operating LLC		4.464		07/23/22		15,639
	5,500,000		Time Warner Cable, Inc		4.500		09/15/42		4,995
	10,000,000	e,i	Walt Disney Co		1.490		03/04/22		10,030
	4,175,000		Walt Disney Co		2.450		03/04/22		4,184
			TOTAL MEDIA						38,064
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.2%
	2,550,000	e	Biogen, Inc		2.900		09/15/20		2,595
	7,000,000		Biogen, Inc		3.625		09/15/22		7,219
	5,000,000		Bristol-Myers Squibb Co		3.250		08/01/42		4,370
	3,300,000		Zoetis, Inc		3.450		11/13/20		3,380
	10,000,000		Zoetis, Inc		3.250		02/01/23		10,097
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						27,661
REAL ESTATE - 0.6%
	6,525,000		Brixmor Operating Partnership LP		3.850		02/01/25		6,439
	10,000,000		Equity One, Inc		3.750		11/15/22		10,285
	3,500,000		Federal Realty Investment Trust		2.750		06/01/23		3,395
	3,400,000		Healthcare Realty Trust, Inc		5.750		01/15/21		3,726
	7,000,000		Kimco Realty Corp		6.875		10/01/19		7,795
	8,750,000		Kimco Realty Corp		2.700		03/01/24		8,294
	16,825,000		Mid-America Apartments LP		4.000		11/15/25		17,262
	16,822,000		Regency Centers LP		3.750		06/15/24		17,060
	2,400,000		Ventas Realty LP		3.250		08/15/22		2,415
			TOTAL REAL ESTATE						76,671

357

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
SOFTWARE & SERVICES - 0.0%
$	4,900,000		Microsoft Corp		4.100	%	02/06/37	$	5,038
			TOTAL SOFTWARE & SERVICES						5,038
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	18,110,000		Apple, Inc		2.850		02/23/23		18,273
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						18,273
TELECOMMUNICATION SERVICES - 0.2%
	3,400,000	e	CenturyLink, Inc		6.750		12/01/23		3,545
	5,000,000	i	Verizon Communications, Inc		2.137		03/16/22		5,045
	11,750,000		Verizon Communications, Inc		2.625		08/15/26		10,728
	7,350,000		Verizon Communications, Inc		5.250		03/16/37		7,592
			TOTAL TELECOMMUNICATION SERVICES						26,910
TRANSPORTATION - 0.8%
	6,775,000	e	CSX Corp		4.250		11/01/66		6,146
	2,253,379		Delta Air Lines		4.250		07/30/23		2,310
	5,547,946		Delta Air Lines		3.625		07/30/27		5,655
	3,150,000		Delta Air Lines, Inc		2.875		03/13/20		3,176
	7,150,000		Delta Air Lines, Inc		3.625		03/15/22		7,298
	7,250,000	e	GATX Corp		5.200		03/15/44		7,397
	4,000,000		Kansas City Southern		3.000		05/15/23		3,911
	7,000,000		Kansas City Southern		4.300		05/15/43		6,453
	15,925,000		Kansas City Southern		4.950		08/15/45		16,018
	5,275,000	g	Mexico City Airport Trust		4.250		10/31/26		5,347
	10,325,000	g	Mexico City Airport Trust		5.500		10/31/46		10,167
	6,894,000		Norfolk Southern Corp		2.903		02/15/23		6,858
	475,000		Norfolk Southern Corp		5.590		05/17/25		540
	8,597,869		Spirit Airlines, Inc		4.100		04/01/28		8,770
	4,050,000		Union Pacific Corp		3.375		02/01/35		3,905
	5,196,109		Union Pacific Railroad Co		3.227		05/14/26		5,096
	9,656,634		Union Pacific Railroad Co		2.695		05/12/27		9,207
	1,360,000	i	United Parcel Service of America, Inc (Step Bond)		8.375		04/01/30		1,936
			TOTAL TRANSPORTATION						110,190
UTILITIES - 2.6%
	2,075,000	g	APT Pipelines Ltd		4.250		07/15/27		2,092
	2,000,000		Atmos Energy Corp		8.500		03/15/19		2,246
	7,550,000	g	Colorado Interstate Gas Co LLC		4.150		08/15/26		7,378
	1,200,000		Connecticut Light & Power Co		5.500		02/01/19		1,276
	2,000,000		Connecticut Light & Power Co		5.750		03/01/37		2,335
	8,244,587	g	Continental Wind LLC		6.000		02/28/33		8,633
	22,500,000	e,g	Electricite de France S.A.		3.625		10/13/25		22,636
	6,150,000	g	Fortis, Inc		2.100		10/04/21		5,958
	10,750,000	e,g	Fortis, Inc		3.055		10/04/26		10,086
	11,250,000		Georgia Power Co		3.250		04/01/26		10,996
	432,341	g	Great River Energy		5.829		07/01/17		435
	2,745,000	g	International Transmission Co		4.625		08/15/43		2,960
	6,575,000		Interstate Power & Light Co		3.250		12/01/24		6,576
	14,500,000	g	Massachusetts Electric Co		4.004		08/15/46		14,107

358

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	9,250,000	g	Narragansett Electric Co		4.170	%	12/10/42	$	9,111
	9,732,000	g	Niagara Mohawk Power Corp		4.278		10/01/34		9,921
	9,750,000	g	Niagara Mohawk Power Corp		4.119		11/28/42		9,568
	1,500,000		Northwest Natural Gas Co		5.620		11/21/23		1,704
	10,000,000		NorthWestern Corp		4.176		11/15/44		9,881
	18,900,000	g	Pattern Energy Group, Inc		5.875		02/01/24		19,136
	630,000		Public Service Co of Colorado		4.750		08/15/41		692
	5,500,000		San Diego Gas & Electric Co		3.000		08/15/21		5,629
	9,553,602		San Diego Gas & Electric Co		1.914		02/01/22		9,437
	8,875,000		Sierra Pacific Power Co		3.375		08/15/23		9,072
	26,221,911	g	Solar Star Funding LLC		3.950		06/30/35		24,698
	7,768,009	g	Solar Star Funding LLC		5.375		06/30/35		8,208
	2,000,000		Southern California Edison Co		2.400		02/01/22		1,992
	9,675,000		Southern Power Co		1.850		12/01/17		9,685
	6,600,000		Southern Power Co		1.950		12/15/19		6,551
	8,300,000		Southern Power Co		2.500		12/15/21		8,111
	25,000,000		Southern Power Co		4.150		12/01/25		25,833
	16,000,000	g,i	TerraForm Power Operating LLC (Step Bond)		6.375		02/01/23		16,620
	19,248,586	g	Topaz Solar Farms LLC		4.875		09/30/39		19,859
	13,306,636	g	Topaz Solar Farms LLC		5.750		09/30/39		14,693
	5,000,000		Washington Gas Light Co		5.440		08/11/25		5,865
	19,650,000		Westar Energy, Inc		2.550		07/01/26		18,676
	16,525,000		WGL Holdings, Inc		2.250		11/01/19		16,453
			TOTAL UTILITIES						359,109
			TOTAL CORPORATE BONDS						1,560,942
			(Cost $1,554,448)
GOVERNMENT BONDS -  24.3%
AGENCY SECURITIES - 4.3%
	7,437,717		Ethiopian Leasing LLC		2.566		08/14/26		7,419
	3,545,368		Export Lease Ten Co LLC		1.650		05/07/25		3,435
	5,500,000		Federal Home Loan Bank (FHLB)		5.000		11/17/17		5,632
	5,000,000		Federal Home Loan Mortgage Corp (FHLMC)		1.000		09/29/17		5,001
	6,400,000		Federal National Mortgage Association (FNMA)		1.125		04/27/17		6,402
	7,000,000		FNMA		1.625		01/21/20		7,012
	15,500,000		FNMA		2.625		09/06/24		15,735
	2,290,826	g	Genesis Solar Pass Through Trust		3.875		02/15/38		2,391
	1,096,000	j	Government Trust Certificate		0.000		04/01/19		1,059
	5,000,000	j	Government Trust Certificate		0.000		04/01/21		4,573
	6,580,000	g	Hospital for Special Surgery		3.500		01/01/23		6,746
	7,500,000	i	India Government AID Bond		1.134		02/01/27		7,197
	4,780,000		Lutheran Medical Center		1.982		02/20/30		4,555
	7,500,000		Mexican Aircraft Finance V LLC		2.329		01/14/27		7,439
	3,475,000	g	Montefiore Medical Center		3.896		05/20/27		3,619
	20,900,000		NCUA Guaranteed Notes		3.000		06/12/19		21,601
	7,000,000		NCUA Guaranteed Notes		3.450		06/12/21		7,376
	17,440,000		New York Society for the Relief of the Ruptured & Crippled		2.881		12/20/31		16,872
	3,000,000	j	Overseas Private Investment Corp (OPIC)		0.000		04/30/17		3,263
	775,000	j	OPIC		0.000		11/11/17		781
	6,650,000	j	OPIC		0.000		11/13/17		6,642
	10,750,000	j	OPIC		0.000		11/17/17		11,236
	16,000,000	j	OPIC		0.000		02/11/18		16,062

359

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,700,000	j	OPIC		0.000	%	11/15/19	$	5,992
	4,143,456		OPIC		2.290		09/15/26		4,105
	2,230,196		OPIC		2.040		12/15/26		2,205
	9,750,000		OPIC		2.740		09/15/29		9,423
	12,000,000		OPIC		3.220		09/15/29		11,991
	13,500,000		OPIC		3.280		09/15/29		13,545
	2,421,331		OPIC		2.610		04/15/30		2,312
	4,104,000		OPIC		2.930		05/15/30		4,058
	6,782,400		OPIC		3.040		05/15/30		6,753
	7,794,166		OPIC		3.540		06/15/30		8,082
	20,111,938		OPIC		3.370		12/15/30		20,488
	22,016,165		OPIC		3.820		12/20/32		22,997
	14,203,977		OPIC		3.938		12/20/32		14,973
	12,096,868		OPIC		3.160		06/01/33		11,982
	11,612,994		OPIC		3.430		06/01/33		11,770
	1,228,355		OPIC		2.810		07/31/33		1,184
	1,965,369		OPIC		2.940		07/31/33		1,915
	5,000,000		Private Export Funding Corp (PEFCO)		4.375		03/15/19		5,285
	5,854,000	e	PEFCO		1.450		08/15/19		5,834
	13,150,000		PEFCO		2.250		03/15/20		13,338
	8,000,000		PEFCO		2.300		09/15/20		8,097
	17,500,000		PEFCO		4.300		12/15/21		19,129
	4,250,000		PEFCO		2.050		11/15/22		4,172
	4,000,000		PEFCO		3.550		01/15/24		4,259
	8,000,000		PEFCO		3.250		06/15/25		8,237
	2,319,600		Tayarra Ltd		3.628		02/15/22		2,401
	2,225,533		Tricahue Leasing LLC		3.503		11/19/21		2,296
	7,475,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		7,644
	4,894,000		US Department of Housing and Urban Development (HUD)		2.910		08/01/17		4,927
	8,000,000		HUD		4.560		08/01/17		8,102
	10,750,000		HUD		1.770		08/01/18		10,821
	4,497,000		HUD		5.380		08/01/18		4,561
	750,000		HUD		2.050		08/01/19		755
	9,500,000		HUD		4.870		08/01/19		10,177
	13,967,000		HUD		4.960		08/01/20		14,992
	13,500,000		HUD		5.050		08/01/21		14,079
	3,217,000		HUD		2.910		08/01/23		3,280
	1,666,667		VRG Linhas Aereas S.A.		0.983		03/13/18		1,659
	45,500,000		Iraq Government AID Bond		2.149		01/18/22		45,324
	6,160,000		Montefiore Medical Center		2.152		10/20/26		5,915
	21,805,000		Montefiore Medical Center		2.895		04/20/32		21,113
	5,075,000		Tunisia Government AID Bonds		1.416		08/05/21		4,927
	15,300,000		Ukraine Government AID Bonds		1.847		05/29/20		15,326
	19,500,000		Ukraine Government AID Bonds		1.471		09/29/21		19,046
			TOTAL AGENCY SECURITIES						591,519
FOREIGN GOVERNMENT BONDS - 5.1%
	24,350,000		African Development Bank		1.375		12/17/18		24,323
	13,550,000	e	African Development Bank		2.375		09/23/21		13,688
	17,500,000		Asian Development Bank		2.125		03/19/25		17,014
	6,000,000	g	Caisse d’Amortissement de la Dette Sociale		2.000		04/17/20		5,992
	9,000,000		Canada Government International Bond		1.125		03/19/18		8,994
	6,469,626	g	Carpintero Finance Ltd		2.004		09/18/24		6,371

360

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	6,500,000		Council Of Europe Development Bank		1.000	%	02/04/19	$	6,435
	25,000,000		European Bank for Reconstruction & Development		1.625		04/10/18		24,977
	19,500,000		European Bank for Reconstruction & Development		0.875		07/22/19		19,162
	2,000,000		European Investment Bank		2.000		03/15/21		2,000
	36,350,000		European Investment Bank		2.125		04/13/26		34,807
	2,000,000		European Investment Bank		4.875		02/15/36		2,485
	16,275,000		Export Development Canada		1.250		12/10/18		16,314
	9,000,000	e	Export Development Canada		1.625		12/03/19		8,985
	12,000,000		Export Development Canada		1.375		10/21/21		11,623
	18,175,000		Export-Import Bank of Korea		1.750		02/27/18		18,171
	15,000,000	g	Finnvera Oyj		2.375		06/04/25		14,418
	6,082,000		Hydro Quebec		8.400		01/15/22		7,515
	45,000,000		Inter-American Development Bank		1.185		07/09/18		44,521
	19,075,000		International Finance Corp		1.250		11/27/18		19,042
	19,250,000		International Finance Corp		1.750		03/30/20		19,242
	46,500,000		International Finance Corp		1.546		11/04/21		44,641
	40,500,000		International Finance Corp		2.125		04/07/26		39,079
	2,850,000		Italy Government International Bond		5.375		06/12/17		2,866
	5,000,000		Japan Bank for International Cooperation		1.875		04/20/21		4,894
	9,000,000	g	Japan Finance Organization for Municipalities		2.125		04/13/21		8,857
	5,000,000		KFW		1.000		01/26/18		4,992
	23,000,000		KFW		1.750		10/15/19		23,067
	11,500,000		KFW		1.500		04/20/20		11,408
	38,200,000		KFW		1.875		11/30/20		38,102
	10,000,000		KFW		2.625		01/25/22		10,220
	8,850,000	g	Kommunalbanken AS.		1.375		10/26/20		8,670
	12,500,000	g	Kommunalbanken AS.		2.125		02/11/25		12,014
	19,400,000	g	Kommuninvest I Sverige AB		1.500		04/23/19		19,312
	16,750,000		Kreditanstalt fuer Wiederaufbau		2.000		11/30/21		16,675
	8,850,000	g	Nacional Financiera SNC		3.375		11/05/20		8,978
	25,000,000	g	Nederlandse Waterschapsbank NV		2.375		03/24/26		24,201
	10,000,000		North American Development Bank		2.300		10/10/18		10,092
	2,000,000		North American Development Bank		4.375		02/11/20		2,122
	15,250,000	e	Province of Manitoba Canada		1.750		05/30/19		15,280
	15,000,000		Province of Manitoba Canada		2.100		09/06/22		14,775
	12,700,000		Province of Manitoba Canada		3.050		05/14/24		13,024
	10,000,000		Province of New Brunswick Canada		2.750		06/15/18		10,152
	9,500,000		Province of Ontario Canada		1.200		02/14/18		9,486
	5,000,000		Province of Ontario Canada		4.400		04/14/20		5,356
	10,000,000		Province of Quebec Canada		3.500		07/29/20		10,484
	5,000,000		Province of Quebec Canada		7.500		09/15/29		7,100
			TOTAL FOREIGN GOVERNMENT BONDS						701,926
MORTGAGE BACKED - 8.1%
	10,000,000		Federal Home Loan Mortgage Corp (FHLMC)		3.500		03/15/28		10,317
	14,600,000		FHLMC		3.500		08/15/43		15,286
	20,168,959		FHLMC		3.500		07/15/46		4,182
	15,334		Federal Home Loan Mortgage Corp Gold (FGLMC)		6.000		12/01/17		15
	38,883		FGLMC		7.000		10/01/20		40
	4,678		FGLMC		7.000		05/01/23		5
	6,680,826		FGLMC		3.500		03/01/27		6,967
	17,846		FGLMC		8.000		01/01/31		20
	367,041		FGLMC		4.500		07/01/33		395
	695,658		FGLMC		5.500		09/01/33		786

361

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	497,212		FGLMC		5.500	%	09/01/33	$	552
	942,578		FGLMC		5.500		12/01/33		1,059
	2,484,367		FGLMC		7.000		12/01/33		2,912
	835,660		FGLMC		7.000		05/01/35		967
	102,479		FGLMC		5.000		02/01/36		112
	1,987		FGLMC		6.500		05/01/36		2
	546,618		FGLMC		5.000		07/01/39		595
	2,755,722	w	FGLMC		4.500		11/01/40		2,995
	3,054,208	w	FGLMC		4.500		12/01/40		3,320
	849,597		FGLMC		4.500		10/01/44		927
	984,313		FGLMC		4.500		11/01/44		1,075
	1,173,725		FGLMC		4.500		11/01/44		1,281
	797,506		FGLMC		4.500		12/01/44		871
	440,091		FGLMC		4.500		12/01/44		475
	3,369,979		FGLMC		3.500		04/01/45		3,468
	28,794,692		FGLMC		3.500		10/01/45		29,608
	20,282,710		FGLMC		4.000		12/01/45		21,446
	4,298,831		FGLMC		3.500		03/01/46		4,417
	2,796,426		FGLMC		4.000		05/01/46		2,956
	50,819,759		FGLMC		3.500		08/01/46		52,215
	2,255		Federal National Mortgage Association (FNMA)		8.000		03/01/23		2
	22,649		FNMA		8.000		07/01/24		26
	18,500,000	i	FNMA		2.784		02/25/27		18,195
	354,802		FNMA		2.500		07/01/31		355
	8,740,077		FNMA		2.500		07/01/31		8,751
	2,106,925		FNMA		2.500		08/01/31		2,110
	296,688		FNMA		2.500		10/01/31		297
	1,002,025		FNMA		2.500		10/01/31		1,003
	399,117		FNMA		2.500		11/01/31		400
	833,501		FNMA		2.500		11/01/31		835
	522,514		FNMA		2.500		11/01/31		523
	170,710		FNMA		2.500		11/01/31		171
	730,585		FNMA		2.500		11/01/31		732
	1,334,850		FNMA		2.500		12/01/31		1,337
	473,328		FNMA		2.500		12/01/31		474
	377,963		FNMA		2.500		12/01/31		379
	284,166		FNMA		2.500		12/01/31		285
	1,026,657		FNMA		2.500		12/01/31		1,028
	17,596,726		FNMA		2.500		01/01/32		17,614
	9,954,388		FNMA		3.500		02/01/32		10,401
	31,000,000	h	FNMA		3.000		05/25/32		31,734
	324,752		FNMA		6.500		07/01/32		378
	2,694,923		FNMA		5.000		06/01/33		2,955
	5,724,373		FNMA		5.000		10/01/33		6,274
	320,492		FNMA		5.000		11/01/33		353
	80,219		FNMA		7.000		01/01/34		86
	881,137		FNMA		5.000		03/01/34		966
	1,523,744		FNMA		5.500		03/01/34		1,706
	4,705,387		FNMA		5.000		05/01/35		5,148
	2,999,886		FNMA		5.000		10/01/35		3,282
	2,308,981		FNMA		5.000		02/01/36		2,526

362

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,167,342		FNMA		5.500	%	08/01/37	$	1,307
	596,379		FNMA		6.000		09/01/37		691
	680,169		FNMA		6.000		09/01/37		788
	160,888		FNMA		6.500		09/01/37		181
	713,485		FNMA		5.500		01/01/38		799
	17,832		FNMA		6.500		02/01/38		20
	2,186,891		FNMA		5.500		04/01/38		2,439
	3,141,852		FNMA		5.500		11/01/38		3,640
	4,124,920		FNMA		5.500		12/01/38		4,658
	33,849		FNMA		4.500		04/01/39		37
	814,195		FNMA		4.500		05/01/39		882
	351,843		FNMA		4.000		07/01/39		372
	1,359,972		FNMA		5.500		08/01/39		1,533
	50,533		FNMA		4.500		02/01/40		55
	477,795		FNMA		5.000		08/01/40		523
	2,376,109		FNMA		5.000		09/01/40		2,597
	143,795		FNMA		4.500		11/01/40		157
	236,519		FNMA		4.500		01/01/41		259
	6,243,541		FNMA		4.500		01/01/41		6,771
	5,760,498		FNMA		4.500		01/01/41		6,227
	203,420		FNMA		4.500		02/01/41		223
	3,837,300		FNMA		5.000		05/01/41		4,199
	254,628		FNMA		4.500		06/01/41		278
	233,886		FNMA		4.500		06/01/41		256
	749,105		FNMA		5.000		06/01/41		821
	2,158,218		FNMA		5.000		07/01/41		2,363
	1,643,254		FNMA		4.500		09/01/41		1,776
	419,360		FNMA		4.500		12/01/41		458
	11,905,836		FNMA		5.500		12/01/41		13,654
	728,165		FNMA		4.500		01/01/42		789
	257,940		FNMA		4.500		01/01/42		282
	9,433,323		FNMA		3.000		03/25/42		9,605
	225,588		FNMA		4.500		04/01/42		245
	2,104,197		FNMA		4.500		04/01/42		2,265
	292,298		FNMA		4.500		06/01/42		320
	3,013,669		FNMA		4.500		06/01/42		3,244
	4,641,726		FNMA		3.000		06/25/42		4,724
	215,918		FNMA		4.500		07/01/42		236
	5,854,390		FNMA		4.500		08/01/42		6,338
	176,635		FNMA		3.000		10/01/42		176
	9,943,081		FNMA		3.000		10/01/42		9,917
	5,636,701		FNMA		3.500		11/25/42		1,140
	7,334,426	w	FNMA		3.000		01/01/43		7,315
	9,243,391	w	FNMA		3.000		02/01/43		9,219
	5,385,717		FNMA		3.000		02/25/43		5,483
	10,281		FNMA		3.000		04/01/43		10
	5,332,645		FNMA		3.000		08/25/43		5,450
	5,802,084		FNMA		4.500		10/01/43		6,275
	4,790,312		FNMA		4.000		04/01/44		5,069
	2,138,128		FNMA		4.000		06/01/44		2,262
	3,020,836		FNMA		4.000		06/01/44		3,195
	11,473,043		FNMA		4.500		06/01/44		12,498
	1,203,859		FNMA		4.500		06/01/44		1,312
	2,316,870		FNMA		4.000		07/01/44		2,451

363

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	859,884		FNMA		4.000	%	07/01/44	$	910
	1,038,892		FNMA		4.000		08/01/44		1,099
	2,498,338		FNMA		4.000		08/01/44		2,643
	3,906,992		FNMA		4.000		08/01/44		4,134
	7,313,473		FNMA		4.000		08/01/44		7,738
	2,672,535		FNMA		4.500		08/01/44		2,911
	717,585		FNMA		4.000		09/01/44		760
	686,577		FNMA		4.000		09/01/44		728
	3,838,229		FNMA		4.000		10/01/44		4,068
	6,297,040		FNMA		4.500		10/01/44		6,899
	12,087,877		FNMA		4.500		11/01/44		13,242
	5,031,876		FNMA		4.000		12/01/44		5,333
	2,319,204		FNMA		4.000		12/01/44		2,439
	2,702,030		FNMA		4.500		12/01/44		2,959
	3,843,025		FNMA		4.000		01/01/45		4,073
	292,946		FNMA		3.500		03/01/45		301
	506,193		FNMA		3.500		03/01/45		521
	756,842		FNMA		4.500		03/01/45		830
	731,639		FNMA		4.500		04/01/45		802
	6,147,443		FNMA		3.500		05/01/45		6,332
	853,448		FNMA		4.000		05/01/45		905
	1,865,167		FNMA		4.000		06/01/45		1,977
	8,432,708		FNMA		4.000		07/01/45		8,912
	4,926,514		FNMA		4.000		08/01/45		5,172
	834,562		FNMA		4.000		08/01/45		885
	19,041,895		FNMA		4.000		09/01/45		20,178
	3,658,394		FNMA		4.000		11/01/45		3,878
	952,457		FNMA		4.000		12/01/45		1,010
	4,602,255		FNMA		4.000		12/01/45		4,857
	9,617,600		FNMA		3.500		01/01/46		9,883
	12,088,067		FNMA		4.000		01/01/46		12,780
	8,526,751		FNMA		3.500		02/01/46		8,743
	11,714,218		FNMA		3.500		06/01/46		12,037
	2,147,123		FNMA		3.500		10/25/46		613
	29,184,570		FNMA		3.000		11/01/46		28,963
	31,741,818		FNMA		3.000		12/01/46		31,501
	13,255,584		FNMA		3.500		02/01/47		13,568
	5,000,000	h	FNMA		3.000		04/25/47		4,959
	5,000,000	h	FNMA		3.500		04/25/47		5,115
	6,000,000	h	FNMA		4.000		04/25/47		6,293
	18,000,000	h	FNMA		4.500		04/25/47		19,301
	10,000,000	h	FNMA		3.000		05/25/47		9,898
	33,000,000	h	FNMA		3.500		05/25/47		33,686
	42,000,000	h	FNMA		4.000		05/25/47		43,969
	41,000,000	h	FNMA		3.500		06/25/47		41,762
	17,000,000	h	FNMA		4.000		06/25/47		17,758
	20,000,000	h	FNMA		4.500		06/25/47		21,371
	105		Government National Mortgage Association (GNMA)		9.000		12/15/17		0	^
	5,025		GNMA		8.000		06/15/22		5
	12,834		GNMA		6.500		08/15/23		14
	6,467		GNMA		6.500		08/15/23		7
	6,009,883		GNMA		2.580		08/15/25		5,983
	80,170		GNMA		6.500		05/20/31		94

364

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	8,377,018		GNMA		2.640	%	01/15/33	$	8,255
	11,746,320		GNMA		2.690		06/15/33		11,494
	178,605		GNMA		5.500		07/15/33		201
	9,416,984		GNMA		3.700		10/15/33		9,902
	91,211		GNMA		6.000		10/20/36		107
	100,743		GNMA		6.000		01/20/37		116
	332,135		GNMA		5.500		02/15/37		374
	558,725		GNMA		6.000		02/20/37		639
	246,630		GNMA		5.000		04/15/38		272
	165,993		GNMA		6.000		08/20/38		188
	369,460		GNMA		6.500		11/20/38		421
	26,004		GNMA		4.500		02/20/39		28
	4,196,592		GNMA		4.500		09/20/39		4,562
	8,527,372		GNMA		3.700		08/15/40		8,895
	36,299		GNMA		4.500		08/20/41		39
	127,286		GNMA		4.500		09/20/41		139
	15,273,488		GNMA		3.500		10/20/42		2,947
	27,093		GNMA		4.500		01/20/44		29
	33,543		GNMA		4.500		02/20/44		37
	409,039		GNMA		4.500		05/20/44		447
	53,985		GNMA		4.500		05/20/44		59
	404,922		GNMA		4.500		08/20/44		442
	409,424		GNMA		4.500		09/20/44		447
	145,977		GNMA		4.500		10/20/44		159
	131,362		GNMA		4.500		11/20/44		143
	276,318		GNMA		4.500		12/20/44		302
	409,343		GNMA		4.500		02/20/45		447
	522,071		GNMA		4.500		08/20/45		570
	440,106		GNMA		4.500		08/20/45		481
	451,403		GNMA		4.500		12/20/45		493
	15,257,271		GNMA		3.500		11/20/46		3,103
	57,731,260		GNMA		3.000		01/20/47		58,306
	33,863,826		GNMA		3.500		01/20/47		35,148
	53,000,000	h	GNMA		3.500		03/20/47		55,010
	6,000,000	h	GNMA		3.000		04/20/47		6,052
	5,000,000	h	GNMA		3.500		04/20/47		5,184
	11,000,000	h	GNMA		4.000		05/20/47		11,598
			TOTAL MORTGAGE BACKED						1,119,211
MUNICIPAL BONDS - 4.5%
	3,340,000		Antelope Valley-East Kern Water Agency Financing Authority		4.326		06/01/36		3,325
	4,500,000	g	Basin Electric Power Coop		6.127		06/01/41		4,982
	3,790,000		Bay Area Water Supply & Conservation Agency		2.535		10/01/21		3,809
	2,635,000		Bay Area Water Supply & Conservation Agency		3.015		10/01/24		2,627
	1,170,000		Brunswick & Glynn County Development Authority		3.060		04/01/25		1,167
	7,465,000		California Earthquake Authority		2.805		07/01/19		7,532
	13,000,000		California Housing Finance Agency		2.966		08/01/22		13,092
	6,165,000	g	California Pollution Control Financing Authority		5.000		07/01/27		6,189
	8,020,000	g	California Pollution Control Financing Authority		5.000		07/01/37		8,036
	2,500,000	g	California Pollution Control Financing Authority		5.000		11/21/45		2,504
	3,700,000		Calleguas Municipal Water District		2.030		07/01/18		3,735
	9,700,000		Chicago Metropolitan Water Reclamation District-Greater Chicago		5.720		12/01/38		11,678

365

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,035,000		City & County of Honolulu HI		2.668	%	10/01/27	$	2,878
	1,250,000		City & County of Honolulu, HI		6.114		07/01/29		1,359
	8,850,000		City of Austin TX Water & Wastewater System Revenue		1.933		05/15/19		8,895
	2,750,000		City of Austin TX Water & Wastewater System Revenue		2.133		11/15/19		2,773
	6,500,000		City of Chicago IL		7.750		01/01/42		6,685
	7,280,000		City of Cincinnati OH Water System Revenue		2.568		12/01/21		7,444
	635,000		City of Eugene, OR		6.320		08/01/22		706
	1,250,000		City of Florence SC		4.250		12/01/34		1,185
	12,500,000		City of Houston TX Utility System Revenue		2.563		05/15/20		12,730
	2,180,000		City of Jersey City NJ		1.829		09/01/17		2,183
	500,000		City of Jersey City NJ		2.079		09/01/18		502
	925,000		City of Jersey City NJ		2.423		09/01/19		930
	3,010,000		City of Norfolk VA		3.000		10/01/35		2,809
	3,665,000		City of Norfolk VA		3.050		10/01/36		3,439
	3,345,000		City of San Francisco CA Public Utilities Commission Water Revenue		3.000		11/01/26		3,267
	3,725,000		City of San Francisco CA Public Utilities Commission Water Revenue		3.950		11/01/36		3,665
	18,500,000		City of San Francisco CA Public Utilities Commission Water Revenue		4.185		11/01/46		18,522
	1,000,000		City of San Juan Capistrano CA		3.700		08/01/31		1,000
	1,000,000		Commonwealth Financing Authority		2.675		06/01/21		1,007
	1,150,000		Commonwealth Financing Authority		2.875		06/01/22		1,158
	2,310,000		Commonwealth Financing Authority		3.075		06/01/23		2,333
	9,050,000		Commonwealth of Massachusetts		3.277		06/01/46		8,287
	1,500,000		County of Miami-Dade FL Aviation Revenue		2.218		10/01/22		1,449
	15,000,000		District of Columbia Water & Sewer Authority		4.814		10/01/14		15,319
	2,955,000		Fiscal Year 2005 Securitization Corp		4.760		08/15/19		3,064
	9,000,000		Florida State Board of Administration Finance Corp		2.163		07/01/19		9,071
	15,630,000	j	Garden State Preservation Trust		0.000		11/01/22		13,277
	1,000,000		Grant County Public Utility District No 2		5.470		01/01/34		1,065
	1,250,000		Grant County Public Utility District No 2		4.164		01/01/35		1,223
	4,135,000		Greene County OH		2.720		12/01/21		4,215
	4,365,000		Greene County OH		3.120		12/01/23		4,467
	4,615,000		Greene County OH		3.270		12/01/24		4,728
	4,755,000		Greene County OH		3.420		12/01/25		4,876
	1,500,000		Guadalupe Valley Electric Coop, Inc		5.671		10/01/32		1,632
	975,000		Guadalupe-Blanco River Authority Industrial Development Corp		3.287		04/15/23		984
	5,125,000		Imperial Irrigation District Electric System Revenue		4.500		11/01/40		5,194
	2,000,000		Kern County Water Agency Improvement District No 4		4.276		05/01/36		2,022
	540,000		Lavaca-Navidad River Authority		3.850		08/01/26		554
	6,430,000		Lavaca-Navidad River Authority		4.430		08/01/35		6,529
	3,725,000		Maryland Community Development Administration Housing Revenue		3.797		03/01/39		3,553
	1,040,000		Massachusetts Housing Finance Agency		4.782		12/01/20		1,069
	2,575,000		Metropolitan Council		1.200		09/01/17		2,576
	3,500,000		Metropolitan Council		1.750		09/01/20		3,494
	5,000,000		Metropolitan Water District of Southern California		6.250		07/01/39		5,441
	8,945,000		Michigan Finance Authority		5.000		07/01/22		10,173
	500,000		Michigan Finance Authority		5.000		07/01/22		561
	8,000,000		Michigan Finance Authority		5.000		07/01/22		9,098

366

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,500,000		Michigan Finance Authority		5.000	%	07/01/30	$	2,784
	2,000,000		Michigan Finance Authority		5.000		07/01/31		2,216
	7,665,000		Michigan Finance Authority		3.610		11/01/32		7,291
	8,500,000		New Jersey Economic Development Authority		4.271		06/15/20		8,652
	7,400,000		New Jersey Economic Development Authority		5.706		06/15/30		7,419
	3,000,000		New Jersey Economic Development Authority		5.756		06/15/31		3,009
	1,590,000		New York State Energy Research & Development Authority		2.372		07/01/19		1,621
	1,285,000		New York State Energy Research & Development Authority		2.772		07/01/20		1,323
	1,590,000		New York State Energy Research & Development Authority		3.206		07/01/22		1,669
	1,200,000		New York State Environmental Facilities Corp		2.005		06/15/19		1,205
	1,220,000		New York State Environmental Facilities Corp		2.595		06/15/21		1,233
	1,255,000		New York State Environmental Facilities Corp		3.045		06/15/24		1,266
	1,225,000		New York State Environmental Facilities Corp		3.195		06/15/25		1,233
	2,120,000		New York State Environmental Facilities Corp		3.520		07/15/27		2,167
	500,000		New York State Environmental Facilities Corp		3.684		12/15/29		518
	1,315,000		New York State Urban Development Corp		6.500		12/15/18		1,395
	1,250,000	g	Niagara Area Development Corp		4.000		11/01/24		1,254
	4,750,000		Northern California Power Agency		4.320		07/01/24		5,026
	4,760,000		Ohio State Water Development Authority		4.879		12/01/34		5,396
	700,000		Oklahoma Water Resources Board		3.071		04/01/22		725
	1,000,000		Pend Oreille County Public Utility District No Box Canyon		2.787		01/01/18		1,005
	1,000,000		Pend Oreille County Public Utility District No Box Canyon		3.037		01/01/19		997
	1,070,000		Pend Oreille County Public Utility District No Box Canyon		3.621		01/01/21		1,072
	5,000,000		Pend Oreille County Public Utility District No Box Canyon		5.000		01/01/30		5,176
	3,000,000		Pittsburgh Water & Sewer Authority		6.610		09/01/24		3,449
	1,000,000		Sacramento Area Flood Control Agency		2.699		10/01/22		992
	435,000		San Francisco City & County Redevelopment Agency		3.113		08/01/22		438
	2,285,000		San Francisco City & County Redevelopment Agency		4.375		08/01/44		2,300
	1,000,000		South Dakota Conservancy District		1.620		08/01/18		1,003
	3,330,000		South Dakota Conservancy District		1.648		08/01/18		3,340
	2,920,000		South Dakota Conservancy District		1.898		08/01/19		2,936
	38,830,000		State of California		3.750		10/01/37		39,490
	10,050,000		State of California		4.988		04/01/39		10,601
	2,435,000		State of California Department of Water Resources		2.437		12/01/21		2,462
	4,084,667		State of Illinois		4.350		06/01/18		4,125
	10,500,000		State of Illinois		5.000		02/01/19		10,890
	9,800,000		State of Illinois		5.000		02/01/20		10,294
	8,000,000		State of Illinois		5.000		02/01/22		8,448
	9,000,000		State of Illinois		5.520		04/01/38		8,195
	16,225,000		State of Louisiana		1.260		08/01/18		16,172
	1,500,000		State of Louisiana		1.769		08/01/20		1,491
	4,505,000		State of Michigan		3.375		12/01/20		4,723
	4,405,000		State of Michigan		3.590		12/01/26		4,568
	2,500,000		State of Ohio		5.412		09/01/28		2,926
	2,500,000		State of Texas		2.749		10/01/23		2,531
	5,000,000		State of Texas		6.072		10/01/29		5,452
	2,025,000		State of Texas		3.576		08/01/34		2,044
	3,370,000		State of Texas		3.726		08/01/43		3,297
	3,000		State of Wisconsin		5.700		05/01/26		4
	9,480,000		Suffolk County Water Authority		3.500		06/01/39		9,364
	4,000,000		Suffolk County Water Authority		4.000		06/01/39		4,170
	1,650,000		Syracuse Industrial Development Agency		5.000		01/01/36		1,606
	2,280,000		Tampa Bay Water		2.612		10/01/25		2,223
	3,225,000		Tampa Bay Water		2.782		10/01/26		3,122

367

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,000,000		Tampa Bay Water		2.952	%	10/01/27	$	2,923
	1,255,000		Texas Water Development Board		4.248		10/15/35		1,237
	4,170,000		Texas Water Development Board		4.648		04/15/50		4,123
	5,000,000		Tuolumne Wind Project Authority		6.918		01/01/34		6,004
	3,035,000		University of California		3.809		05/15/28		3,161
	11,400,000		University of California		4.009		05/15/30		11,977
	1,000,000		University of Cincinnati		3.250		06/01/29		1,006
	1,560,000		University of Cincinnati		3.650		06/01/34		1,564
	1,615,000		University of Cincinnati		3.700		06/01/35		1,625
	18,000,000		University of New Mexico		3.532		06/20/32		18,138
	17,500,000		University of Virginia		3.570		04/01/45		17,609
	5,000,000		Vermont Educational & Health Buildings Financing Agency		4.000		12/01/42		5,046
	3,000,000		Vermont Educational & Health Buildings Financing Agency		4.000		12/01/46		3,011
	12,710,000	g	Virgin Islands Water & Power Authority-Electric System		5.500		11/15/18		12,692
	1,000,000		Washington County Clean Water Services		5.078		10/01/24		1,146
	695,000		Water Works Board of the City of Birmingham		1.509		01/01/19		690
	2,470,000		Water Works Board of the City of Birmingham		1.788		01/01/20		2,435
	3,750,000		Water Works Board of the City of Birmingham		1.988		01/01/21		3,684
	3,100,000		Water Works Board of the City of Birmingham		2.192		01/01/22		3,019
	600,000		West Virginia Water Development Authority		5.000		11/01/21		679
	1,345,000		West Virginia Water Development Authority		5.000		11/01/22		1,542
	1,000,000		West Virginia Water Development Authority		5.000		11/01/23		1,160
			TOTAL MUNICIPAL BONDS						620,846
U.S. TREASURY SECURITIES - 2.3%
	6,000,000		United States Treasury Bond		3.125		02/15/43		6,118
	1,000,000		United States Treasury Bond		3.375		05/15/44		1,067
	10,285,000		United States Treasury Bond		2.500		05/15/46		9,208
	133,610,000		United States Treasury Bond		2.875		11/15/46		129,591
	19,860,000		United States Treasury Note		1.125		01/31/19		19,819
	5,750,000		United States Treasury Note		1.625		03/15/20		5,770
	13,285,000		United States Treasury Note		1.375		05/31/21		13,047
	30,005,000		United States Treasury Note		1.875		02/28/22		29,937
	2,000,000		United States Treasury Note		1.875		03/31/22		1,995
	4,150,000		United States Treasury Note		2.000		07/31/22		4,148
	4,500,000		United States Treasury Note		1.750		09/30/22		4,431
	12,234,500		United States Treasury Note		1.625		11/15/22		11,951
	13,130,000		United States Treasury Note		1.750		01/31/23		12,884
	5,200,000		United States Treasury Note		1.500		03/31/23		5,019
	1,500,000		United States Treasury Note		1.375		09/30/23		1,427
	7,300,000		United States Treasury Note		1.625		10/31/23		7,053
	48,895,000		United States Treasury Note		2.250		02/15/27		48,265
			TOTAL U.S. TREASURY SECURITIES						311,730
			TOTAL GOVERNMENT BONDS						3,345,232
			(Cost $3,334,699)
STRUCTURED ASSETS - 3.2%
ASSET BACKED - 1.4%
	3,070,950	g	Alterna Funding I LLC		1.639		02/15/21		3,009
			Series - 2014 1A (Class NOTE)
	925,000	i	Basic Asset Backed Securities Trust		1.292		04/25/36		880
			Series - 2006 1 (Class A3)

368

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,000,000	g	Capital Automotive REIT		3.660	%	10/15/44	$	3,897
			Series - 2014 1A (Class A)
	4,000,000	g,h	Capital Automotive REIT		3.870		04/15/47		3,999
			Series - 2017 1A (Class A1)
	4,001,302	i	Chase Funding Loan Acquisition Trust		1.837		06/25/34		3,536
			Series - 2004 OPT1 (Class M1)
	5,880,000	g	DB Master Finance LLC		3.262		02/20/45		5,911
			Series - 2015 1A (Class A2I)
	1,715,000	g,i	DB/UBS Mortgage Trust		5.686		11/10/46		1,882
			Series - 2011 LC1A (Class C)
	7,513,188	g	Domino’s Pizza Master Issuer LLC		5.216		01/25/42		7,611
			Series - 2012 1A (Class A2)
	1,975,000	g	Domino’s Pizza Master Issuer LLC		3.484		10/25/45		1,976
			Series - 2015 1A (Class A2I)
	888,750	g	Domino’s Pizza Master Issuer LLC		4.474		10/25/45		876
			Series - 2015 1A (Class A2II)
	13,700,143	g	HERO Funding Trust		3.840		09/21/40		13,974
			Series - 2015 1A (Class A)
	3,036,874	g	HERO Funding Trust		3.990		09/21/40		3,055
			Series - 2014 2A (Class A)
	6,569,864	g	HERO Funding Trust		3.750		09/20/41		6,678
			Series - 2016 2A (Class A)
	6,289,906	g	HERO Funding Trust		4.050		09/20/41		6,463
			Series - 2016 1A (Class A)
	2,319,067	g	HERO Funding Trust		3.080		09/20/42		2,290
			Series - 2016 3A (Class A1)
	1,394,147	g	HERO Residual Funding		4.500		09/21/42		1,381
			Series - 2016 1R (Class A1)
	500,000	g	Hertz Vehicle Financing LLC		6.440		02/25/19		514
			Series - 2010 1A (Class B3)
	957,643	i	Lehman XS Trust		1.232		02/25/36		941
			Series - 2006 1 (Class 1A1)
	237,204	i	Park Place Securities, Inc Asset-Backed Pass-Through Certificates		1.762		01/25/36		237
			Series - 2005 WCH1 (Class M2)
	326,556	i	Residential Funding Mortgage Securities II, Inc		6.010		02/25/36		328
			Series - 2006 HI1 (Class M1) (Step Bond)
	172,010	i	Residential Funding Mortgage Securities II, Inc		6.060		02/25/36		180
			Series - 2006 HI1 (Class M2) (Step Bond)
	318,931		Santander Drive Auto Receivables Trust		1.760		01/15/19		319
			Series - 2013 1 (Class C)
	800,000		Santander Drive Auto Receivables Trust		1.960		05/15/20		802
			Series - 2015 5 (Class B)
	800,000		Santander Drive Auto Receivables Trust		2.740		12/15/21		805
			Series - 2015 5 (Class C)
	599,635	g	Sierra Receivables Funding Co LLC		1.590		11/20/29		598
			Series - 2013 1A (Class A)
	949,458	g	Sierra Timeshare Receivables Funding LLC		2.580		09/20/32		953
			Series - 2015 3A (Class A)
	671,787	g	Sierra Timeshare Receivables Funding LLC		3.080		09/20/32		674
			Series - 2015 3A (Class B)
	5,534,959	g	SolarCity LMC		4.590		04/20/44		5,474
			Series - 2014 1 (Class A)

369

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	26,461,213	g	SolarCity LMC		4.020	%	07/20/44	$	25,609
			Series - 2014 2 (Class A)
	6,311,346	g	SolarCity LMC		4.800		09/20/48		6,345
			Series - 2016 A (Class A)
	4,345,793	g	SpringCastle America Funding LLC		3.050		04/25/29		4,372
			Series - 2016 AA (Class A)
	4,165,863	i	Structured Asset Securities Corp Mortgage Loan Trust		2.284		04/25/35		3,931
			Series - 2005 7XS (Class 2A1A)
	19,586,953		Toyota Auto Receivables Owner Trust		1.270		05/15/19		19,577
			Series - 2015 B (Class A3)
	22,500,000		Toyota Auto Receivables Owner Trust		1.300		04/15/20		22,428
			Series - 2016 B (Class A3)
	22,500,000		Toyota Auto Receivables Owner Trust		1.740		09/15/20		22,562
			Series - 2015 B (Class A4)
	385,582	g,m	Wachovia Amortization Controlled Heloc NIM		5.683		08/12/47		389
			Series - 2006 N1 (Class N1)
	345,828	g,i	Wachovia Loan Trust		1.342		05/25/35		341
			Series - 2005 SD1 (Class A)
	3,940,000	g	Wendys Funding LLC		3.371		06/15/45		3,958
			Series - 2015 1A (Class A2I)
			TOTAL ASSET BACKED						188,755
OTHER MORTGAGE BACKED - 1.8%
	1,157,774	g	Banc of America Commercial Mortgage Trust		5.416		01/15/49		1,151
			Series - 2007 1 (Class AM)
	2,056,050	i	Banc of America Commercial Mortgage Trust		5.482		01/15/49		2,053
			Series - 2007 1 (Class AMFX)
	760,000	i	Banc of America Commercial Mortgage Trust		5.809		02/10/51		776
			Series - 2007 4 (Class AJ)
	12,500,000	g	BBCMS Trust		3.593		09/15/32		13,026
			Series - 2015 MSQ (Class A)
	6,000,000	g	BBCMS Trust		3.894		09/15/32		6,179
			Series - 2015 MSQ (Class B)
	2,590,000	i	Bear Stearns Commercial Mortgage Securities Trust		5.928		09/11/42		2,596
			Series - 2007 T28 (Class AJ)
	500,000	i	Bear Stearns Commercial Mortgage Securities Trust		5.878		06/11/50		507
			Series - 2007 PW17 (Class AJ)
	2,575,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		2,615
			Series - 2007 C3 (Class AM)
	3,925,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		3,994
			Series - 2007 C3 (Class AJ)
	2,750,000	i	COBALT CMBS Commercial Mortgage Trust		5.526		04/15/47		2,764
			Series - 2007 C2 (Class AMFX)
	20,761,000	g	COMM Mortgage Trust		3.544		03/10/31		20,854
			Series - 2013 WWP (Class C)
	4,000,000	i	COMM Mortgage Trust		5.796		12/10/49		4,014
			Series - 2007 C9 (Class B)
	3,500,000	g,i	COMM Mortgage Trust		5.808		12/10/49		3,469
			Series - 2007 C9 (Class G)
	5,000,000	i	Connecticut Avenue Securities		5.232		01/25/29		5,308
			Series - 2016 C04 (Class 1M2)
	2,250,000	i	Connecticut Avenue Securities		5.432		01/25/29		2,404
			Series - 2016 C05 (Class 2M2)

370

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,775,000	i	Credit Suisse Commercial Mortgage Trust		5.903	%	09/15/39	$	2,790
			Series - 2007 C4 (Class A1AJ)
	6,000,000	i	Credit Suisse Commercial Mortgage Trust		5.949		09/15/39		6,062
			Series - 2007 C4 (Class AJ)
	8,450,000	i	Credit Suisse Commercial Mortgage Trust		5.625		01/15/49		8,624
			Series - 2007 C2 (Class AJ)
	2,000,000	g	Credit Suisse Mortgage Capital Certificates		5.626		05/15/23		2,133
			Series - 2006 OMA (Class D)
	500,000	i	GE Commercial Mortgage Corp		5.606		12/10/49		497
			Series - 2007 C1 (Class AM)
	3,660,000	i	GMAC Commercial Mortgage Securities, Inc		4.984		12/10/41		3,746
			Series - 2004 C3 (Class C)
	10,000,000	g	GRACE Mortgage Trust		3.369		06/10/28		10,357
			Series - 2014 GRCE (Class A)
	6,317,426	i	Greenwich Capital Commercial Funding Corp		5.867		12/10/49		6,392
			Series - 2007 GG11 (Class AM)
	2,535,000	g,i	GS Mortgage Securities Corp II		5.184		12/10/43		2,735
			Series - 2010 C2 (Class B)
	5,000,000	g	Hudson Yards Mortgage Trust		2.835		08/10/38		4,817
			Series - 2016 10HY (Class A)
	5,000,000	g,i	Hudson Yards Mortgage Trust		2.977		08/10/38		4,845
			Series - 2016 10HY (Class B)
	5,000,000	g,i	Hudson Yards Mortgage Trust		2.977		08/10/38		4,764
			Series - 2016 10HY (Class C)
	497,772	i	Impac CMB Trust		1.642		03/25/35		458
			Series - 2004 11 (Class 2A1)
	1,533,820	i	JP Morgan Chase Commercial Mortgage Securities Trust		4.911		07/15/42		1,532
			Series - 2005 LDP2 (Class C)
	3,025,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.397		07/15/46		3,247
			Series - 2011 C4 (Class C)
	2,639,215	i	JP Morgan Chase Commercial Mortgage Securities Trust		6.192		02/15/51		2,677
			Series - 2007 LD12 (Class AM)
	849,103	i	LB-UBS Commercial Mortgage Trust		5.737		03/15/39		849
			Series - 2006 C3 (Class C)
	137,180	i	LB-UBS Commercial Mortgage Trust		5.533		02/15/40		137
			Series - 2007 C1 (Class C)
	3,390,000	i	LB-UBS Commercial Mortgage Trust		5.563		02/15/40		3,377
			Series - 2007 C1 (Class D)
	750,000	i	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		760
			Series - 2007 C6 (Class AM)
	5,710,075	g,i	LVII Resecuritization Trust		3.611		07/25/47		5,714
			Series - 2015 A (Class A)
	645,000	i	Merrill Lynch Mortgage Trust		6.301		02/12/51		655
			Series - 0 C1 (Class AJA)
	2,750,000	i	ML-CFC Commercial Mortgage Trust		5.526		03/12/51		2,753
			Series - 2007 6 (Class AM)
	12,000,000	g	Morgan Stanley Capital I Trust		3.350		07/13/29		12,419
			Series - 2014 CPT (Class A)
	79,299	g,i	Morgan Stanley Capital I Trust		6.078		08/12/41		79
			Series - 2006 T23 (Class B)
	1,241,453	i	Morgan Stanley Capital I Trust		5.389		11/12/41		1,240
			Series - 2006 HQ10 (Class AJ)
	371,990	i	Morgan Stanley Capital I Trust		5.834		10/15/42		373
			Series - 2006 IQ11 (Class AJ)

371

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	6,000,000	i	Morgan Stanley Capital I Trust		5.861	%	04/12/49	$	6,034
			Series - 2007 HQ12 (Class C)
	2,400,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		2,270
			Series - 2007 IQ15 (Class AJ)
	9,500,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		9,558
			Series - 2007 IQ15 (Class AM)
	4,000,000	i	Morgan Stanley Capital I Trust		6.110		12/12/49		3,694
			Series - 2007 IQ16 (Class AJFX)
	17,385,000	g	OBP Depositor LLC Trust		4.646		07/15/45		18,519
			Series - 2010 OBP (Class A)
	2,750,000	g,i	Sequoia Mortgage Trust		3.500		04/25/47		2,790
			Series - 2017 3 (Class A4)
	2,504,937	i	Structured Agency Credit Risk Debt Note (STACR)		3.382		01/25/25		2,520
			Series - 2015 DN1 (Class M2)
	7,126,910	i	Structured Agency Credit Risk Debt Note (STACR)		3.182		03/25/25		7,227
			Series - 2015 HQ1 (Class M2)
	750,000	i	Structured Agency Credit Risk Debt Note (STACR)		4.782		03/25/25		807
			Series - 2015 HQ1 (Class M3)
	1,562,547	i	Structured Agency Credit Risk Debt Note (STACR)		2.232		10/25/28		1,567
			Series - 2016 DNA2 (Class M1)
	1,750,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.332		03/25/29		1,762
			Series - 2016 HQA3 (Class M2)
	890,000	i	Wachovia Bank Commercial Mortgage Trust		5.818		05/15/46		904
			Series - 2007 C34 (Class AM)
	1,700,000	i	Wachovia Bank Commercial Mortgage Trust		6.132		05/15/46		1,706
			Series - 2007 C34 (Class AJ)
	3,000,000	i	Wachovia Bank Commercial Mortgage Trust		6.214		05/15/46		2,990
			Series - 2007 C34 (Class B)
	1,714,964	i	Wachovia Bank Commercial Mortgage Trust		5.591		04/15/47		1,724
			Series - 2007 C31 (Class AM)
	1,500,000	i	Wachovia Bank Commercial Mortgage Trust		5.660		04/15/47		1,505
			Series - 2007 C31 (Class AJ)
	1,000,000	i	Wachovia Bank Commercial Mortgage Trust		5.700		04/15/47		997
			Series - 2007 C31 (Class B)
	700,000	i	Wachovia Bank Commercial Mortgage Trust		5.748		04/15/47		697
			Series - 2007 C31 (Class C)
	4,000,000	g	Wachovia Bank Commercial Mortgage Trust		5.703		06/15/49		4,040
			Series - 2007 C32 (Class AMFX)
	12,830,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		12,573
			Series - 2007 C32 (Class AJ)
	875,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		843
			Series - 2007 C32 (Class B)
	510,000	i	Wachovia Bank Commercial Mortgage Trust		5.953		02/15/51		514
			Series - 2007 C33 (Class AM)
			TOTAL OTHER MORTGAGE BACKED						250,983
			TOTAL STRUCTURED ASSETS						439,738
			(Cost $442,257)
			TOTAL BONDS						5,345,912
			(Cost $5,331,404)

372

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 59.5%
AUTOMOBILES & COMPONENTS - 1.2%
	52,700		Aisin Seiki Co Ltd	$	2,596
	142,415		Bayerische Motoren Werke AG.		12,994
	48,364		Bayerische Motoren Werke AG. (Preference)		3,804
	7,649		BorgWarner, Inc		320
	8,633		Delphi Automotive plc		695
	241,682		Denso Corp		10,664
	2,836,023		Ford Motor Co		33,011
	293,803		Fuji Heavy Industries Ltd		10,776
	237,190		Harley-Davidson, Inc		14,350
	529,580		Honda Motor Co Ltd		15,988
	239,561	*	Magna International, Inc		10,338
	290,159		Mazda Motor Corp		4,188
	56,826	*	Modine Manufacturing Co		693
	13,300		NGK Spark Plug Co Ltd		305
	1,165,564		Nissan Motor Co Ltd		11,239
	35,507		Renault S.A.		3,085
	277,400		Sumitomo Electric Industries Ltd		4,611
	99,404	*,e	Tesla Motors, Inc		27,664
	142,300		Toyota Industries Corp		7,079
	81,993		Valeo S.A.		5,454
	2,720	*	Visteon Corp		267
	135,700		Yamaha Motor Co Ltd		3,267
			TOTAL AUTOMOBILES & COMPONENTS		183,388
BANKS - 4.8%
	4,098		1st Source Corp		192
	37,611		Ameris Bancorp		1,734
	1,198		Arrow Financial Corp		41
	48,752		Associated Banc-Corp		1,190
	120,003		Astoria Financial Corp		2,461
	832,033		Australia & New Zealand Banking Group Ltd		20,202
	5,173,160		Banca Intesa S.p.A.		14,072
	822,765		Banca Intesa S.p.A. RSP		2,093
	1,923		Bancfirst Corp		173
	2,154,797		Banco Bilbao Vizcaya Argentaria S.A.		16,727
	2,849,951	*	Banco de Sabadell S.A.		5,222
	940,276		Bank Hapoalim Ltd		5,730
	42,063		Bank Mutual Corp		395
	212,469	*	Bank of Montreal		15,870
	341,236	e	Bank of Nova Scotia		19,963
	3,264		Bank of the Ozarks, Inc		170
	14,280		Banner Corp		795
	748,710		BB&T Corp		33,467
	337		Bendigo Bank Ltd		3
	17,567		Beneficial Bancorp, Inc		281
	41,663		Berkshire Hills Bancorp, Inc		1,502
	2,484,500		BOC Hong Kong Holdings Ltd		10,155
	71,484		Boston Private Financial Holdings, Inc		1,172
	20,664		Brookline Bancorp, Inc		323
	14,021		Bryn Mawr Bank Corp		554

373

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	2,263,140		CaixaBank S.A.	$	9,730
	19,106		Camden National Corp		841
	90,324		Canadian Imperial Bank of Commerce/Canada		7,788
	28,674		Capital Bank Financial Corp		1,244
	78,229		Capitol Federal Financial		1,144
	18,397		Cardinal Financial Corp		551
	3,360		Cathay General Bancorp		127
	48,673		Centerstate Banks of Florida, Inc		1,261
	9,281		Chemical Financial Corp		475
	261,448		CIT Group, Inc		11,224
	699,629		Citizens Financial Group, Inc		24,172
	5,178		City Holding Co		334
	17,464		CoBiz, Inc		293
	2,120		Columbia Banking System, Inc		83
	164,117		Comerica, Inc		11,255
	64,376		Commerce Bancshares, Inc		3,615
	423,393		Commonwealth Bank of Australia		27,764
	3,936		Community Bank System, Inc		216
	3,149		Community Trust Bancorp, Inc		144
	10,995		Cullen/Frost Bankers, Inc		978
	32,319	*	Customers Bancorp, Inc		1,019
	800,910		DBS Group Holdings Ltd		11,094
	45,442		DNB NOR Holding ASA		722
	9,597		East West Bancorp, Inc		495
	39,046	*	FCB Financial Holdings, Inc		1,935
	11,562		Federal Agricultural Mortgage Corp (Class C)		666
	3,478		Fifth Third Bancorp		88
	18,076		First Bancorp (NC)		529
	451		First Citizens Bancshares, Inc (Class A)		151
	115,446		First Commonwealth Financial Corp		1,531
	2,793		First Community Bancshares, Inc		70
	6,726		First Financial Bancorp		185
	25,728	e	First Financial Bankshares, Inc		1,032
	1,399		First Financial Corp		66
	25,682		First Interstate Bancsystem, Inc		1,018
	26,737		First Merchants Corp		1,051
	2,260		First Republic Bank		212
	20,089		Flushing Financial Corp		540
	16,186		FNB Corp		241
	2,590		Glacier Bancorp, Inc		88
	9,041		Great Southern Bancorp, Inc		457
	5,441		Hancock Holding Co		248
	502,000		Hang Seng Bank Ltd		10,184
	7,159		Hanmi Financial Corp		220
	21,059		Heartland Financial USA, Inc		1,052
	25,997		Heritage Financial Corp		643
	31,813	*	HomeStreet, Inc		889
	21,937	*	HomeTrust Bancshares, Inc		515
	91,000		Hope Bancorp, Inc		1,744
	9,160		IBERIABANK Corp		725
	15,980		Independent Bank Corp (MA)		1,039
	1,169,417		ING Groep NV		17,663
	1,147		International Bancshares Corp		41

374

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	136,208		Investors Bancorp, Inc	$	1,959
	156,575		KBC Groep NV		10,380
	1,221,419		Keycorp		21,717
	20,107		Lakeland Bancorp, Inc		394
	13,009		Lakeland Financial Corp		561
	2,791		Live Oak Bancshares, Inc		60
	163,494		M&T Bank Corp		25,297
	1,800		MB Financial, Inc		77
	58,589	*	MGIC Investment Corp		593
	263,400		Mitsui Trust Holdings, Inc		9,127
	8,286,021		Mizuho Financial Group, Inc		15,210
	772,206		National Australia Bank Ltd		19,662
	31,271		National Bank Holdings Corp		1,016
	830,341		Natixis		5,112
	12,836		NBT Bancorp, Inc		476
	642,933		New York Community Bancorp, Inc		8,982
	1,147,506		Nordea Bank AB		13,092
	54,855		Northfield Bancorp, Inc		988
	58,431	e	OFG Bancorp		689
	19,038		Old National Bancorp		330
	23,224		Opus Bank		468
	21,876		PacWest Bancorp		1,165
	18,721		Peoples Bancorp, Inc		593
	2,728		People’s United Financial, Inc		50
	63,976	*	PHH Corp		814
	6,735		Pinnacle Financial Partners, Inc		448
	325,986		PNC Financial Services Group, Inc		39,197
	134,411		Popular, Inc		5,475
	19,500		PrivateBancorp, Inc		1,158
	50,953		Provident Financial Services, Inc		1,317
	146,534		Radian Group, Inc		2,632
	4,786		Regions Financial Corp		70
	11,707		Renasant Corp		465
	985,400		Resona Holdings, Inc		5,297
	8,068		S&T Bancorp, Inc		279
	6,272	e	ServisFirst Bancshares, Inc		228
	183,355	e	Skandinaviska Enskilda Banken AB (Class A)		2,037
	25,524		Southside Bancshares, Inc		857
	1,392,980	*	Standard Chartered plc		13,324
	17,563		State Bank & Trust Co		459
	8,646		Stock Yards Bancorp, Inc		351
	435,753		Sumitomo Mitsui Financial Group, Inc		15,861
	27,169	*	SVB Financial Group		5,056
	99,166	*,e	Svenska Handelsbanken AB		1,359
	158,902	e	Swedbank AB (A Shares)		3,677
	800	*	Texas Capital Bancshares, Inc		67
	12,553		TFS Financial Corp		209
	63,097	*	The Bancorp, Inc		322
	472,524		Toronto-Dominion Bank		23,668
	10,795		TowneBank		350
	12,715		Trico Bancshares		452
	23,156	*	Tristate Capital Holdings, Inc		541

375

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,700		Trustmark Corp	$	54
	9,293		UMB Financial Corp		700
	33,564		Umpqua Holdings Corp		595
	19,739		Union Bankshares Corp		694
	10,415	e	United Bankshares, Inc		440
	50,056		United Financial Bancorp, Inc (New)		851
	15,008		Univest Corp of Pennsylvania		389
	860,952		US Bancorp		44,339
	36,494	*	Walker & Dunlop, Inc		1,521
	3,203		Washington Trust Bancorp, Inc		158
	13,326		Webster Financial Corp		667
	8,948		WesBanco, Inc		341
	13,401	e	Westamerica Bancorporation		748
	48,155	*	Western Alliance Bancorp		2,364
	875,751		Westpac Banking Corp		23,411
	1,110		Wintrust Financial Corp		77
	5,244		WSFS Financial Corp		241
	35,669		Zions Bancorporation		1,498
			TOTAL BANKS		658,935
CAPITAL GOODS - 4.7%
	297,630		3M Co		56,946
	18,212		A.O. Smith Corp		932
	649,304		ABB Ltd		15,197
	1,681		Acuity Brands, Inc		343
	8,699		Advanced Drainage Systems, Inc		191
	5,540		AGCO Corp		333
	3,490		Allegion plc		264
	299,053		Ametek, Inc		16,173
	17,429		Argan, Inc		1,153
	368,000		Asahi Glass Co Ltd		2,986
	137,861		Assa Abloy AB		2,834
	289,780		Atlas Copco AB (A Shares)		10,214
	239,983		Atlas Copco AB (B Shares)		7,623
	65,507		Barnes Group, Inc		3,363
	142,181		BE Aerospace, Inc		9,115
	2,120	*	Beacon Roofing Supply, Inc		104
	139,175		Bouygues S.A.		5,657
	65,993		Brenntag AG.		3,699
	28,642		Briggs & Stratton Corp		643
	73,289	*	Builders FirstSource, Inc		1,092
	226,331		Bunzl plc		6,578
	5,150		Carlisle Cos, Inc		548
	236,627		Caterpillar, Inc		21,950
	16,918	*	Chart Industries, Inc		591
	4,110		Chicago Bridge & Iron Co NV		126
	892,719		CNH Industrial NV		8,592
	238,663		Compagnie de Saint-Gobain		12,245
	196,171		Cummins, Inc		29,661
	104,100		Daikin Industries Ltd		10,497
	925		DCC plc		81
	122,816		Deere & Co		13,370
	82,308	*	DigitalGlobe, Inc		2,696

376

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	10,100		Donaldson Co, Inc	$	460
	18,188		Dover Corp		1,461
	17,985	*	DXP Enterprises, Inc		681
	348,486		Eaton Corp		25,840
	50,848		Eiffage S.A.		3,979
	4,718		EMCOR Group, Inc		297
	38,544	*	Esterline Technologies Corp		3,317
	155,950		Fastenal Co		8,031
	29,348		Finning International, Inc		548
	10,505		Flowserve Corp		509
	6,000		Fortune Brands Home & Security, Inc		365
	121,822		GEA Group AG.		5,175
	4,400		Graco, Inc		414
	31,785		H&E Equipment Services, Inc		779
	62,937		Hexcel Corp		3,433
	122,700		Hino Motors Ltd		1,488
	283,525		Illinois Tool Works, Inc		37,559
	142,761		Ingersoll-Rand plc		11,609
	5,190		ITT, Inc		213
	580,083		Johnson Controls International plc		24,433
	23,809		Kaman Corp		1,146
	552,000		Kawasaki Heavy Industries Ltd		1,677
	1,265,370		Keppel Corp Ltd		6,277
	57,871	*,e	KEYW Holding Corp		546
	445,800		Komatsu Ltd		11,677
	408,428		Koninklijke Philips Electronics NV		13,120
	531,700		Kubota Corp		8,015
	58,157		Legrand S.A.		3,501
	3,160		Lennox International, Inc		529
	5,536		Lincoln Electric Holdings, Inc		481
	18,670		MAN AG.		1,924
	443,765		Masco Corp		15,084
	367,518		Meggitt plc		2,051
	98,379	e	Metso Oyj		2,977
	606,300		Mitsubishi Corp		13,140
	848,700		Mitsubishi Electric Corp		12,228
	3,770		MSC Industrial Direct Co (Class A)		387
	20,156	*	MYR Group, Inc		826
	83,000		NGK Insulators Ltd		1,883
	214,700		NSK Ltd		3,076
	5,790		Oshkosh Truck Corp		397
	76,887		Osram Licht AG.		4,822
	153,507		Owens Corning, Inc		9,421
	121,365		Paccar, Inc		8,156
	41,155		Parker Hannifin Corp		6,598
	112,709		Pentair plc		7,076
	248,946	*,e	Plug Power, Inc		344
	78,372	*	Quanta Services, Inc		2,908
	219,304		Rexel S.A.		3,973
	32,751		Rockwell Automation, Inc		5,100
	171,860		Rockwell Collins, Inc		16,698
	57,844		Roper Industries, Inc		11,944

377

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	17,377	*	Rush Enterprises, Inc (Class A)	$	575
	136,953		Sandvik AB		2,046
	207,503		Schneider Electric S.A.		15,245
	1,554	*	Sensata Technologies Holding BV		68
	4,833		Snap-On, Inc		815
	9,620		Stanley Works		1,278
	765,100		Sumitomo Corp		10,322
	5,510		Timken Co		249
	17,398	*	Titan Machinery, Inc		267
	166,100		Toyota Tsusho Corp		5,042
	66,420		TransDigm Group, Inc		14,623
	1,172		Travis Perkins plc		22
	52,269		Triton International Ltd		1,348
	23,804	*	United Rentals, Inc		2,977
	10,935	*	Veritiv Corp		566
	43,367		Vestas Wind Systems AS		3,527
	804,834	e	Volvo AB (B Shares)		11,873
	2,310		W.W. Grainger, Inc		538
	34,781		Wabash National Corp		720
	1,940	*	WABCO Holdings, Inc		228
	129,173		Wartsila Oyj (B Shares)		6,906
	7,273	*	Welbilt, Inc		143
	74,918	*	Wesco Aircraft Holdings, Inc		854
	3,950	*	WESCO International, Inc		275
	160,699		Wolseley plc		10,118
	19,775		Woodward Governor Co		1,343
	13,870		Xylem, Inc		697
			TOTAL CAPITAL GOODS		647,035
COMMERCIAL & PROFESSIONAL SERVICES - 0.4%
	2,604		ABM Industries, Inc		113
	138,545	*	ACCO Brands Corp		1,822
	25,543		Adecco S.A.		1,814
	221,220		Brambles Ltd		1,580
	31,018		Bureau Veritas S.A.		654
	137,412		Capita Group plc		972
	132,080	*	Copart, Inc		8,180
	4,840		Covanta Holding Corp		76
	1,384		Dun & Bradstreet Corp		149
	20,242		Exponent, Inc		1,205
	21,492		Heidrick & Struggles International, Inc		566
	11,793	*	ICF International, Inc		487
	16,650		Insperity, Inc		1,476
	74,708		Intertek Group plc		3,677
	16,221		Kelly Services, Inc (Class A)		355
	18,783		Kforce, Inc		446
	19,771		Manpower, Inc		2,028
	38,808	*,m	Media General, Inc		0
	23,089	*	Mistras Group, Inc		494
	2,100		Mobile Mini, Inc		64
	63,125	*	Navigant Consulting, Inc		1,443
	1,000	*	On Assignment, Inc		48
	15,020		Pitney Bowes, Inc		197

378

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	21,731		Resources Connection, Inc	$	364
	112,876		Robert Half International, Inc		5,512
	3,650		Rollins, Inc		135
	50,157	*	RPX Corp		602
	4,923		RR Donnelley & Sons Co		60
	24,400		Secom Co Ltd		1,753
	4,444		SGS S.A.		9,477
	1,544	*	SP Plus Corp		52
	8,899	*	Team, Inc		241
	9,438		Tetra Tech, Inc		386
	23,633		Viad Corp		1,068
	112,120		Waste Management, Inc		8,176
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		55,672
CONSUMER DURABLES & APPAREL - 1.0%
	72,218		Adidas-Salomon AG.		13,738
	497,409		Barratt Developments plc		3,407
	54,165		Berkeley Group Holdings plc		2,178
	263,458		Burberry Group plc		5,686
	35,350		CalAtlantic Group, Inc		1,324
	83,671		Callaway Golf Co		926
	4,120		Carter’s, Inc		370
	43,694		Christian Dior S.A.		10,143
	10,570		Coach, Inc		437
	9,360		CSS Industries, Inc		243
	20,506		Ethan Allen Interiors, Inc		629
	8,870		Garmin Ltd		453
	16,958	e	Hanesbrands, Inc		352
	4,666		Hasbro, Inc		466
	103,179	*	Kate Spade & Co		2,397
	17,544		Libbey, Inc		256
	3,670	*	Lululemon Athletica, Inc		190
	1,052,500		Matsushita Electric Industrial Co Ltd		11,911
	178,287		Mattel, Inc		4,566
	34,564	*	Meritage Homes Corp		1,272
	6,202	*	Michael Kors Holdings Ltd		236
	11,872	*	Mohawk Industries, Inc		2,724
	19,825		Movado Group, Inc		495
	607		Newell Rubbermaid, Inc		29
	789,493		Nike, Inc (Class B)		43,998
	11,827		Pandora AS		1,309
	6,580		Phillips-Van Heusen Corp		681
	2,290	e	Polaris Industries, Inc		192
	1,540		Pool Corp		184
	98,400		Sekisui House Ltd		1,622
	403,700		Sony Corp		13,624
	762,926		Taylor Wimpey plc		1,845
	4,240	*,e	Tempur-Pedic International, Inc		197
	4,000		Tupperware Corp		251
	55,610	*,e	Under Armour, Inc (Class A)		1,100
	18,549	*	Unifi, Inc		527
	24,071		VF Corp		1,323

379

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	2,860		Whirlpool Corp	$	490
	535,000		Yue Yuen Industrial Holdings		2,102
			TOTAL CONSUMER DURABLES & APPAREL		133,873
CONSUMER SERVICES - 1.3%
	148,488		Accor S.A.		6,176
	15,319	*	American Public Education, Inc		351
	10,030		ARAMARK Holdings Corp		370
	1,289		Bob Evans Farms, Inc		84
	4,408		Brinker International, Inc		194
	19,899		Carriage Services, Inc		540
	44,529		Choice Hotels International, Inc		2,788
	9,562		Darden Restaurants, Inc		800
	16,118		DineEquity, Inc		877
	7,544		Dunkin Brands Group, Inc		412
	14,787	*,e	El Pollo Loco Holdings, Inc		177
	8,473		Hilton Worldwide Holdings, Inc		495
	29,678		ILG, Inc		622
	162,659	*	InterContinental Hotels Group plc		7,967
	19,063	*	Intrawest Resorts Holdings Inc		477
	6,202		Marcus Corp		199
	351,889		Marriott International, Inc (Class A)		33,141
	407,416		McDonald’s Corp		52,805
	365,877	g	Merlin Entertainments plc		2,199
	54,700	e	Oriental Land Co Ltd		3,144
	7,972		Royal Caribbean Cruises Ltd		782
	7,790		Service Corp International		241
	90,848	*	ServiceMaster Global Holdings, Inc		3,793
	5,690		Six Flags Entertainment Corp		338
	5,549		Sonic Corp		141
	808,957		Starbucks Corp		47,235
	432,328		TUI AG. (DI)		5,987
	12,542		Vail Resorts, Inc		2,407
	8,700		Wendy’s		118
	159,265		Whitbread plc		7,903
	9,231		Wyndham Worldwide Corp		778
			TOTAL CONSUMER SERVICES		183,541
DIVERSIFIED FINANCIALS - 3.1%
	849,064		3i Group plc		7,972
	807,152		Aberdeen Asset Management plc		2,678
	97,400	e	AEON Financial Service Co Ltd		1,839
	47,306		Ally Financial, Inc		962
	540,559		American Express Co		42,764
	6,887		Ameriprise Financial, Inc		893
	1,453,020		AMP Ltd		5,748
	1,187,378		Annaly Capital Management, Inc		13,192
	62,354		Apollo Commercial Real Estate Finance, Inc		1,173
	810,494		Bank of New York Mellon Corp		38,280
	100,479		BlackRock, Inc		38,535
	3,180		CBOE Holdings, Inc		258
	890,263		Charles Schwab Corp		36,332

380

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	6,140		Chimera Investment Corp	$	124
	306,055		CME Group, Inc		36,359
	9,968	*,e	Credit Acceptance Corp		1,988
	143,808		CYS Investments, Inc		1,143
	111,112	*	Deutsche Boerse AG. (Tender)		10,183
	463,905		Discover Financial Services		31,726
	60,890		Dynex Capital, Inc		432
	11,450	*	E*TRADE Financial Corp		400
	4,300		Eaton Vance Corp		193
	12,537	*,e	Encore Capital Group, Inc		386
	3,588		Eurazeo		236
	95,136		EXOR NV		4,919
	7,504		Factset Research Systems, Inc		1,237
	3,347		Franklin Resources, Inc		141
	55,617	*	Green Dot Corp		1,855
	503,630		Hong Kong Exchanges and Clearing Ltd		12,709
	558,160		IntercontinentalExchange Group, Inc		33,417
	1,416		Invesco Ltd		43
	572,304		Investec plc		3,902
	33,731		Investment Technology Group, Inc		683
	205,042		London Stock Exchange Group plc		8,158
	163,417		Macquarie Group Ltd		11,259
	387,000		Mitsubishi UFJ Lease & Finance Co Ltd		1,934
	1,420		Morningstar, Inc		112
	867		NASDAQ OMX Group, Inc		60
	15,331		Nelnet, Inc (Class A)		672
	4,816		NewStar Financial, Inc		51
	132,131		Northern Trust Corp		11,440
	63,687	*,e	On Deck Capital, Inc		321
	9,469	*	Pico Holdings, Inc		133
	40,201		Resource Capital Corp		393
	90,420		S&P Global, Inc		11,822
	1,685	*	Safeguard Scientifics, Inc		21
	117,904		Schroders plc		4,475
	10,587		SEI Investments Co		534
	9,620		Starwood Property Trust, Inc		217
	412,646		State Street Corp		32,851
	7,473		T Rowe Price Group, Inc		509
	1,056		TD Ameritrade Holding Corp		41
	10,154		Voya Financial, Inc		385
	24,646		Wendel		3,121
			TOTAL DIVERSIFIED FINANCIALS		421,211
ENERGY - 3.6%
	42,489		Alon USA Energy, Inc		518
	112,058	e	AltaGas Income Trust		2,595
	646	*	Antero Resources Corp		15
	13,120		Apache Corp		674
	82,467	*	Atwood Oceanics, Inc		786
	264,399		Baker Hughes, Inc		15,816
	45,237		Bristow Group, Inc		688
	81,584		Caltex Australia Ltd		1,838

381

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	27,965	*,e	CARBO Ceramics, Inc	$	365
	669,243		Cenovus Energy, Inc (Toronto)		7,574
	218,866	*	Cheniere Energy, Inc		10,346
	3,796		Cimarex Energy Co		454
	126,771	*	Clean Energy Fuels Corp		323
	5,226	*	Concho Resources, Inc		671
	285,829		ConocoPhillips		14,254
	45,227	*	Continental Resources, Inc		2,054
	48,288	e	Crescent Point Energy Corp		522
	80,352		Delek US Holdings, Inc		1,950
	12,864	*	Denbury Resources, Inc		33
	298,494		Devon Energy Corp		12,453
	3,010	*	Dril-Quip, Inc		164
	466,361		Enbridge, Inc		19,537
	517,403		EnCana Corp		6,062
	5,711	*	Energen Corp		311
	350,173		EOG Resources, Inc		34,159
	40,526		EQT Corp		2,476
	42,054	*	Exterran Corp		1,323
	1,520		Frank’s International NV		16
	382,818		Galp Energia SGPS S.A.		5,806
	47,174		Green Plains Renewable Energy, Inc		1,168
	5,400	*	Gulfport Energy Corp		93
	33,566		Hess Corp		1,618
	72,886		Inpex Holdings, Inc		719
	161,289		Keyera Corp		4,731
	683,792		Kinder Morgan, Inc		14,866
	61,618		Koninklijke Vopak NV		2,684
	5,280	*	Laredo Petroleum Holdings, Inc		77
	518,317		Marathon Oil Corp		8,189
	387,673		Marathon Petroleum Corp		19,593
	35,997	*	Matrix Service Co		594
	315,075	*	McDermott International, Inc		2,127
	413,153		National Oilwell Varco, Inc		16,563
	16,599	*	Natural Gas Services Group, Inc		432
	113,117		Neste Oil Oyj		4,423
	111,651	*	Newpark Resources, Inc		904
	235,633		Noble Energy, Inc		8,092
	488,428		Occidental Petroleum Corp		30,947
	4,210		Oceaneering International, Inc		114
	129,954		OMV AG.		5,121
	3,074		Oneok, Inc		171
	162,692	*	Parker Drilling Co		285
	36,726	*	PDC Energy, Inc		2,290
	292,883		Pembina Pipeline Income Fund		9,281
	229,219		Petrofac Ltd		2,648
	3,621	*	PHI, Inc		43
	337,630		Phillips 66		26,747
	21,522		Pioneer Natural Resources Co		4,008
	10,010	*	Questar Market Resources, Inc		127
	50,847	*	Renewable Energy Group, Inc		531
	697,747		Repsol YPF S.A.		10,810
	17,609	*	RigNet, Inc		378

382

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	170,144	*	Rowan Cos plc	$	2,651
	2,420	e	RPC, Inc		44
	580,653		Schlumberger Ltd		45,349
	894	*	SEACOR Holdings, Inc		62
	23,125		SM Energy Co		556
	1,062,294		Snam Rete Gas S.p.A.		4,591
	274,650	*	Southwestern Energy Co		2,244
	638,774		Statoil ASA		10,980
	543,925		Suncor Energy, Inc		16,700
	90,582	*	Superior Energy Services		1,292
	271,990		Tenaris S.A.		4,703
	37,026	*	Tesco Corp		298
	9,393		Tesoro Corp		761
	114,247	*	Tetra Technologies, Inc		465
	546,167		Total S.A.		27,616
	66,590	*	Unit Corp		1,609
	409,312		Valero Energy Corp		27,133
	1,214,901	*	Weatherford International Ltd		8,079
	445,914		Williams Cos, Inc		13,195
	242,603		Woodside Petroleum Ltd		5,943
	2,870		World Fuel Services Corp		104
			TOTAL ENERGY		498,532
FOOD & STAPLES RETAILING - 0.6%
	179,300		Aeon Co Ltd		2,625
	552		Alimentation Couche Tard, Inc		25
	244,801		Carrefour S.A.		5,768
	52,505		Casey’s General Stores, Inc		5,894
	48,748		Casino Guichard Perrachon S.A.		2,724
	26,041	*,e	Chefs’ Warehouse Holdings, Inc		362
	12,016		Colruyt S.A.		590
	612,987		J Sainsbury plc		2,030
	69,935		Koninklijke Ahold Delhaize NV		1,494
	23,181		Loblaw Cos Ltd		1,258
	156,508		Metro AG.		5,001
	13,070	*,e	Natural Grocers by Vitamin C		136
	48,800	*	Performance Food Group Co		1,161
	26,111		Pricesmart, Inc		2,407
	161,500		Seven & I Holdings Co Ltd		6,344
	48,144		Spartan Stores, Inc		1,685
	178,317	*	Sprouts Farmers Market, Inc		4,123
	4,438,693	*	Tesco plc		10,330
	64,657	*	United Natural Foods, Inc		2,795
	12,906		Weis Markets, Inc		770
	270,999		Wesfarmers Ltd		9,330
	432,204		Whole Foods Market, Inc		12,845
	459,754		WM Morrison Supermarkets plc		1,384
			TOTAL FOOD & STAPLES RETAILING		81,081

383

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
FOOD, BEVERAGE & TOBACCO - 2.8%
	414,000		Ajinomoto Co, Inc	$	8,192
	76,624		Aryzta AG.		2,460
	294,719		Associated British Foods plc		9,627
	34,316		Bunge Ltd		2,720
	4,813		Calavo Growers, Inc		292
	63,172		Campbell Soup Co		3,616
	494,827		Coca-Cola Amatil Ltd		4,091
	1,663,650		Coca-Cola Co		70,606
	105,608		Coca-Cola European Partners plc		3,945
	160,960		Coca-Cola HBC AG.		4,155
	144,190		Dr Pepper Snapple Group, Inc		14,119
	6,570		Flowers Foods, Inc		128
	19,775	*,e	Freshpet, Inc		218
	445,148		General Mills, Inc		26,268
	217,067		Groupe Danone		14,766
	3,870	*	Hain Celestial Group, Inc		144
	263,694		Hormel Foods Corp		9,132
	167,025		Kellogg Co		12,128
	81,210		Kerry Group plc (Class A)		6,385
	129,000		Kikkoman Corp		3,855
	429,073		Kraft Heinz Co		38,964
	893		Lindt & Spruengli AG.		5,060
	90		Lindt & Spruengli AG. (Registered)		5,970
	10,531		McCormick & Co, Inc		1,027
	8,663		Mead Johnson Nutrition Co		772
	974,069		Mondelez International, Inc		41,963
	51,200		Nissin Food Products Co Ltd		2,844
	29,443		Omega Protein Corp		590
	464,078		Orkla ASA		4,157
	53,130		PAN Fish ASA		811
	614,554		PepsiCo, Inc		68,744
	8,356	*	Seneca Foods Corp		302
	122,200		Suntory Beverage & Food Ltd		5,162
	403,223		Tate & Lyle plc		3,864
	8,199	*	WhiteWave Foods Co (Class A)		460
	76,600		Yakult Honsha Co Ltd		4,263
			TOTAL FOOD, BEVERAGE & TOBACCO		381,800
HEALTH CARE EQUIPMENT & SERVICES - 2.4%
	13,468		Abaxis, Inc		653
	1,510	*	Abiomed, Inc		189
	72,457	*,e	Acadia Healthcare Co, Inc		3,159
	13,529		Aceto Corp		214
	327,637	e	Al Noor Hospitals Group plc		2,926
	120,584	*	Alere, Inc		4,791
	18,400		Alfresa Holdings Corp		320
	7,320	*	Allscripts Healthcare Solutions, Inc		93
	36,444	*	Amedisys, Inc		1,862
	218,831		AmerisourceBergen Corp		19,367
	40,869	*	AMN Healthcare Services, Inc		1,659
	8,346		Analogic Corp		633
	31,116	*	Angiodynamics, Inc		540
	220,877		Anthem, Inc		36,529
	52,596	*	athenahealth, Inc		5,927

384

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	32,319	*	AtriCure, Inc	$	619
	195,533		Becton Dickinson & Co		35,869
	44,898	*	Brookdale Senior Living, Inc		603
	37,871	*	Capital Senior Living Corp		532
	355,481		Cardinal Health, Inc		28,989
	25,145	*	Cardiovascular Systems, Inc		711
	141,909	*	Centene Corp		10,112
	118,014	*,e	Cerus Corp		525
	186,607		Cigna Corp		27,336
	48,568		Coloplast AS		3,793
	15,670	e	Computer Programs & Systems, Inc		439
	4,570	*	Corvel Corp		199
	25,039	*	Cross Country Healthcare, Inc		360
	421,529	*	Danaher Corp		36,053
	6,956		Dentsply Sirona, Inc		434
	49,980	*	Diplomat Pharmacy, Inc		797
	263,784	*	Edwards Lifesciences Corp		24,814
	12,785	*	Envision Healthcare Corp		784
	98,948		Essilor International S.A.		12,013
	52,788	*	GenMark Diagnostics, Inc		677
	4,374	*	Haemonetics Corp		177
	1,323,351		Healthscope Ltd		2,294
	9,462	*	HealthStream, Inc		229
	29,168	*	Henry Schein, Inc		4,958
	10,561	*	HMS Holdings Corp		215
	87,326	*	Hologic, Inc		3,716
	54,094		Humana, Inc		11,151
	39,783	*	Integer Holding Corp		1,599
	109,824		Kindred Healthcare, Inc		917
	5,710	*	Laboratory Corp of America Holdings		819
	12,858		Landauer, Inc		627
	19,312	*	LHC Group, Inc		1,041
	48,888	*	LifePoint Hospitals, Inc		3,202
	1,474	*	Medidata Solutions, Inc		85
	35,601	*	Merit Medical Systems, Inc		1,029
	13,386	*	Molina Healthcare, Inc		610
	41,964	*	NxStage Medical, Inc		1,126
	46,381	*	Omnicell, Inc		1,885
	72,962	*	OraSure Technologies, Inc		943
	2,718		Owens & Minor, Inc		94
	85,508	e	Patterson Cos, Inc		3,868
	38,489	*	PharMerica Corp		901
	1,740	*	Premier, Inc		55
	17,435	*	Providence Service Corp		775
	42,933	*	Quality Systems, Inc		654
	11,000		Quest Diagnostics, Inc		1,080
	23,328	*	Quidel Corp		528
	122,698		Ramsay Health Care Ltd		6,550
	6,622		Resmed, Inc		477
	302,847		Ryman Healthcare Ltd		1,785
	75,106	*	Select Medical Holdings Corp		1,003
	28,515	*	Spectranetics Corp		831

385

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES				COMPANY	VALUE (000)
	42,474		*	Staar Surgical Co	$	416
	10,800			Suzuken Co Ltd		355
	96,000			Sysmex Corp		5,841
	31,845		*,e	Teladoc, Inc		796
	19,606		*	Tivity Health, Inc		571
	14,434		*	Triple-S Management Corp (Class B)		254
	0	^		UnitedHealth Group, Inc		0	^
	16,067			US Physical Therapy, Inc		1,049
	4,120		*	Varian Medical Systems, Inc		375
	2,963		*	VCA Antech, Inc		271
	32,132		*	Vocera Communications, Inc		798
	11,103		*	Wright Medical Group NV		346
				TOTAL HEALTH CARE EQUIPMENT & SERVICES		330,817
HOUSEHOLD & PERSONAL PRODUCTS - 1.5%
	9,750			Clorox Co		1,315
	255,828			Colgate-Palmolive Co		18,724
	1,620			Energizer Holdings, Inc		90
	8,129			Estee Lauder Cos (Class A)		689
	36,788			Henkel KGaA		4,091
	59,767			Henkel KGaA (Preference)		7,661
	180,831			Kimberly-Clark Corp		23,803
	53,827			L’Oreal S.A.		10,353
	1,113			Medifast, Inc		49
	10,538			Natural Health Trends Corp		305
	2,160			Nu Skin Enterprises, Inc (Class A)		120
	961,465			Procter & Gamble Co		86,388
	193,078			Reckitt Benckiser Group plc		17,626
	267,416			Unilever NV		13,285
	380,915			Unilever plc		18,790
				TOTAL HOUSEHOLD & PERSONAL PRODUCTS		203,289
INSURANCE - 2.8%
	1,484,596			Aegon NV		7,562
	405,872			Aflac, Inc		29,393
	122,354			Allianz AG.		22,690
	3,760			Allied World Assurance Co Holdings Ltd		200
	12,880			Allstate Corp		1,050
	26,103			American International Group, Inc		1,630
	8,260			Aon plc		980
	76,152			Aspen Insurance Holdings Ltd		3,964
	508,612			Assicurazioni Generali S.p.A.		8,070
	2,660			Assurant, Inc		254
	1,826,851			Aviva plc		12,191
	636,546			AXA S.A.		16,446
	73,209			Axis Capital Holdings Ltd		4,907
	302,079			Chubb Ltd		41,158
	149,981			CNP Assurances		3,050
	11,216			Employers Holdings, Inc		426
	2,482		*	Enstar Group Ltd		475
	280,877			Hartford Financial Services Group, Inc		13,502
	3,430,458			Legal & General Group plc		10,622

386

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	9,710		Loews Corp	$	454
	439,778		Marsh & McLennan Cos, Inc		32,495
	67,249		Muenchener Rueckver AG.		13,164
	109,100		NKSJ Holdings, Inc		4,008
	38,248		NN Group NV		1,242
	3,546,341		Old Mutual plc		8,925
	8,429		Principal Financial Group		532
	2,180		ProAssurance Corp		131
	205,337		Progressive Corp		8,045
	354,955		Prudential Financial, Inc		37,867
	806,076		Prudential plc		17,027
	6,628		Reinsurance Group of America, Inc (Class A)		842
	41,214		RenaissanceRe Holdings Ltd		5,962
	219,028		RSA Insurance Group plc		1,608
	819,890		Standard Life plc		3,645
	20,374		Stewart Information Services Corp		900
	141,165		Swiss Re Ltd		12,679
	172,900		T&D Holdings, Inc		2,506
	296,887		Travelers Cos, Inc		35,787
	1,467		Willis Towers Watson plc		192
	53,346		Zurich Financial Services AG.		14,236
			TOTAL INSURANCE		380,817
MATERIALS - 3.1%
	69,485		Agnico-Eagle Mines Ltd		2,948
	45,381	e	Agrium, Inc		4,331
	136,377		Air Liquide		15,571
	155,138		Air Products & Chemicals, Inc		20,989
	63,469		Akzo Nobel NV		5,254
	563		Albemarle Corp		59
	4,930		Aptargroup, Inc		380
	162,000		Asahi Kasei Corp		1,574
	45,732		Avery Dennison Corp		3,686
	13,540	*	Axalta Coating Systems Ltd		436
	60,225		Ball Corp		4,472
	240,440		BASF SE		23,807
	7,500		Bemis Co, Inc		366
	241,348		Boliden AB		7,184
	6,683		Celanese Corp (Series A)		600
	65,020	*	Century Aluminum Co		825
	2,372	*	Clearwater Paper Corp		133
	125,429		Commercial Metals Co		2,399
	68,725		CRH plc		2,422
	38,958	*	Croda International plc		1,740
	29,600		Daicel Chemical Industries Ltd		357
	2,590		Domtar Corp		95
	5,941		DSM NV		402
	35,889		Eastman Chemical Co		2,900
	287,546		Ecolab, Inc		36,041
	50,336		Evonik Industries AG.		1,641
	5,690	*	Ferro Corp		86
	258,032		Fletcher Building Ltd		1,503

387

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	72,672	*,e	Flotek Industries, Inc	$	929
	33,815		Franco-Nevada Corp		2,215
	5,005	e	Givaudan S.A.		9,014
	3,382		Hawkins, Inc		166
	104,407		HeidelbergCement AG.		9,778
	187,100		Hitachi Metals Ltd		2,632
	210,954		Holcim Ltd		12,446
	19,635		Innophos Holdings, Inc		1,060
	2,890		International Flavors & Fragrances, Inc		383
	192,070		International Paper Co		9,753
	167,220		Johnson Matthey plc		6,452
	274,100	*	Kobe Steel Ltd		2,508
	39,288	*	Kraton Polymers LLC		1,215
	37,600		Kuraray Co Ltd		572
	59,233	*	Louisiana-Pacific Corp		1,470
	262,740		LyondellBasell Industries AF S.C.A		23,959
	26,494		Materion Corp		889
	36,779		Minerals Technologies, Inc		2,817
	98,699		Mitsubishi Materials Corp		2,996
	805,960		Mitsui Chemicals, Inc		3,993
	77,471		Mondi plc		1,872
	114,544		Mosaic Co		3,342
	5,405		Myers Industries, Inc		86
	400,688		Newcrest Mining Ltd		6,830
	28,700		Nitto Denko Corp		2,220
	1,186,667		Norsk Hydro ASA		6,916
	411,382		Nucor Corp		24,568
	413,813	e	Potash Corp of Saskatchewan		7,070
	14,989		PPG Industries, Inc		1,575
	258,224		Praxair, Inc		30,625
	13,463		Reliance Steel & Aluminum Co		1,077
	88,002		Royal Gold, Inc		6,165
	35,137		Schnitzer Steel Industries, Inc (Class A)		726
	16,407		Sealed Air Corp		715
	52,385		Sherwin-Williams Co		16,249
	155,200		Shin-Etsu Chemical Co Ltd		13,490
	594		Sika AG.		3,563
	345,212		Silver Wheaton Corp		7,193
	7,860		Sonoco Products Co		416
	4,627,290		South32 Ltd		9,755
	19,300		Steel Dynamics, Inc		671
	71,596	*	Stillwater Mining Co		1,236
	1,372,000		Sumitomo Chemical Co Ltd		7,685
	436,000		Sumitomo Metal Mining Co Ltd		6,235
	71,182	*	Summit Materials, Inc		1,759
	449,672		Teck Cominco Ltd		9,833
	75,000		Toray Industries, Inc		668
	35,484		Trinseo S.A.		2,381
	77,066		Umicore		4,389
	163,079	e	UPM-Kymmene Oyj		3,829
	19,003	*,e	US Concrete, Inc		1,227
	169,592		WestRock Co		8,824
	58,714		Worthington Industries, Inc		2,647
			TOTAL MATERIALS		433,285

388

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
MEDIA - 1.7%
	129,564	*	Charter Communications, Inc	$	42,409
	4,399		Cinemark Holdings, Inc		195
	101,469		Clear Channel Outdoor Holdings, Inc (Class A)		614
	49,500		Dentsu, Inc		2,696
	209,416	*	Discovery Communications, Inc (Class A)		6,092
	292,884	*	Discovery Communications, Inc (Class C)		8,292
	27,652		Entercom Communications Corp (Class A)		395
	84,634		Entravision Communications Corp (Class A)		525
	85,122	*	Gray Television, Inc		1,234
	526,783		ITV plc		1,446
	13,149		John Wiley & Sons, Inc (Class A)		707
	4,448	*	Liberty Global plc		156
	2,960	*	Liberty Global plc (Class A)		106
	162,213		New York Times Co (Class A)		2,336
	475,703		Pearson plc		4,056
	131,589		ProSiebenSat. Media AG.		5,827
	3,689		Reed Elsevier NV		68
	531,330		Reed Elsevier plc		10,403
	6,430	e	Regal Entertainment Group (Class A)		145
	1,550		Scholastic Corp		66
	36,146		Scripps Networks Interactive (Class A)		2,833
	132,030		Shaw Communications, Inc (B Shares)		2,737
	57,685		Sinclair Broadcast Group, Inc (Class A)		2,336
	616,899		Sky plc		7,545
	470,981		Time Warner, Inc		46,020
	317,818		Vivendi Universal S.A.		6,165
	641,345		Walt Disney Co		72,722
	561,622		WPP plc		12,310
			TOTAL MEDIA		240,436
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 5.2%
	43,775	*	Actelion Ltd		12,333
	220,189		Agilent Technologies, Inc		11,641
	117,028	*	Akorn, Inc		2,818
	133,284	*	Alexion Pharmaceuticals, Inc		16,159
	290,013		Amgen, Inc		47,583
	924,114		Astellas Pharma, Inc		12,188
	81,572	*	Biogen Idec, Inc		22,303
	6,074	*	BioMarin Pharmaceutical, Inc		533
	1,440		Bio-Techne Corp		146
	838,785		Bristol-Myers Squibb Co		45,613
	8,320		Bruker BioSciences Corp		194
	3,027	*	Cambrex Corp		167
	379,694	*	Celgene Corp		47,245
	59,178	*,e	Cempra, Inc		222
	56,663	*	Chimerix, Inc		362
	63,297		Chugai Pharmaceutical Co Ltd		2,179
	81,033	*	Depomed, Inc		1,017
	61,700		Eisai Co Ltd		3,204

389

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	44,572	*	Genmab AS	$	8,577
	523,037		Gilead Sciences, Inc		35,525
	1,228,076		GlaxoSmithKline plc		25,535
	50,997	*,e	Inovio Pharmaceuticals, Inc		338
	34,337	*	Intersect ENT, Inc		589
	31,280	*	Intra-Cellular Therapies, Inc		508
	887,831		Johnson & Johnson		110,579
	50,354		Lonza Group AG.		9,518
	1,101,460		Merck & Co, Inc		69,987
	92,633		Merck KGaA		10,556
	1,949	*	Mettler-Toledo International, Inc		933
	76,434	*,e	MiMedx Group, Inc		728
	162,598	*	Nektar Therapeutics		3,816
	493,821		Novartis AG.		36,670
	526,462		Novo Nordisk AS		18,078
	31,689	*,e	Opko Health, Inc		254
	88,884		Orion Oyj (Class B)		4,637
	8,637	*	PerkinElmer, Inc		501
	46,519	*	Prestige Brands Holdings, Inc		2,585
	670	*,e	Prothena Corp plc		37
	189,462	*	QIAGEN NV		5,500
	5,837	*	Quintiles Transnational Holdings, Inc		470
	10,782	*	Repligen Corp		380
	17,803	*	Revance Therapeutics, Inc		370
	153,090		Roche Holding AG.		39,150
	86,173	*	Sangamo Biosciences, Inc		448
	83,500		Shionogi & Co Ltd		4,323
	31,531	*,e	Sucampo Pharmaceuticals, Inc (Class A)		347
	286,185		Takeda Pharmaceutical Co Ltd		13,473
	16,323	*	TESARO, Inc		2,512
	261,324		Thermo Fisher Scientific, Inc		40,139
	103,897	*	Vertex Pharmaceuticals, Inc		11,361
	6,410	*	VWR Corp		181
	2,985	*	Waters Corp		467
	600,563		Zoetis, Inc		32,052
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		717,031
REAL ESTATE - 2.6%
	26,113		Aeon Mall Co Ltd		412
	15,548	*,e	Altisource Portfolio Solutions S.A.		572
	46,925		American Campus Communities, Inc		2,233
	316,901		American Tower Corp		38,516
	4,840		Apple Hospitality REIT, Inc		92
	2,022		AvalonBay Communities, Inc		371
	119,319		Boston Properties, Inc		15,799
	7,140		Brandywine Realty Trust		116
	837,984		British Land Co plc		6,406
	10,152		Brixmor Property Group, Inc		218
	3,550		Camden Property Trust		286
	2,239,249		CapitaLand Ltd		5,812
	8,638		CatchMark Timber Trust Inc		100
	159,778	*	CBRE Group, Inc		5,559
	262,900		City Developments Ltd		1,916

390

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	85,061		Columbia Property Trust, Inc	$	1,893
	35,170		Coresite Realty		3,167
	4,060		Corporate Office Properties Trust		134
	328,792		Crown Castle International Corp		31,054
	366,500		Daiwa House Industry Co Ltd		10,535
	3,870		DCT Industrial Trust, Inc		186
	5,835		Digital Realty Trust, Inc		621
	166,157		Duke Realty Corp		4,365
	43,801		Easterly Government Properties, Inc		867
	51,226		Equinix, Inc		20,509
	5,250	*	Equity Commonwealth		164
	3,170		Equity Lifestyle Properties, Inc		244
	193,124		Equity Residential		12,016
	2,560		Essex Property Trust, Inc		593
	78,079		First Potomac Realty Trust		803
	182,890		Forest City Realty Trust, Inc		3,983
	590,981		Hammerson plc		4,226
	661,000		Hang Lung Properties Ltd		1,718
	330,702		HCP, Inc		10,344
	598,000		Henderson Land Development Co Ltd		3,708
	352,259		Host Marriott Corp		6,573
	111,670		Hysan Development Co Ltd		507
	821,238	e	Intu Properties plc		2,873
	945		Iron Mountain, Inc		34
	8,311	*	iStar Financial, Inc		98
	538,757		Land Securities Group plc		7,155
	90,335		Lend Lease Corp Ltd		1,074
	6,070		Liberty Property Trust		234
	58,561		Macerich Co		3,771
	16,046		Macquarie Goodman Group		95
	3,100		Mid-America Apartment Communities, Inc		315
	352,000		Mitsubishi Estate Co Ltd		6,416
	486,810		Mitsui Fudosan Co Ltd		10,394
	79,700		Nomura Real Estate Holdings, Inc		1,272
	71,768		NorthStar Realty Europe Corp		832
	6,010		Piedmont Office Realty Trust, Inc		129
	400,776		Prologis, Inc		20,792
	5,090		Rayonier, Inc		144
	4,430		Regency Centers Corp		294
	3,556		RMR Group, Inc		176
	157		Ryman Hospitality Properties		10
	4,510	*	SBA Communications Corp		543
	284,290		Scentre Group		932
	303,670		Segro plc		1,736
	46,895	e	Senior Housing Properties Trust		950
	149,100		Shoei Co Ltd		1,407
	201,161		Simon Property Group, Inc		34,606
	4,080		SL Green Realty Corp		435
	478,500		Swire Pacific Ltd (Class A)		4,783
	1,030,200		Swire Properties Ltd		3,302
	2,845	*	Tejon Ranch Co		62
	62,244		Tier REIT, Inc		1,081

391

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	12,000		Tokyu Fudosan Holdings Corp	$	65
	222,754		UDR, Inc		8,077
	46,703		Unibail-Rodamco		10,890
	92,992		Ventas, Inc		6,048
	25,033		Vornado Realty Trust		2,511
	335,200		Welltower, Inc		23,739
	1,409		Weyerhaeuser Co		48
			TOTAL REAL ESTATE		353,941
RETAILING - 2.1%
	36,131	*	1-800-FLOWERS.COM, Inc (Class A)		369
	5,845		Advance Auto Parts, Inc		867
	217,187		American Eagle Outfitters, Inc		3,047
	2,480	*	Autonation, Inc		105
	38,416	*	AutoZone, Inc		27,777
	49,707		Bed Bath & Beyond, Inc		1,961
	148,997		Best Buy Co, Inc		7,323
	23,566	e	Big 5 Sporting Goods Corp		356
	65,713	*	Cabela’s, Inc		3,490
	26,039		Caleres, Inc		688
	79,268	*	Carmax, Inc		4,694
	22,552	*,e	Container Store Group, Inc		95
	3,320		Dick’s Sporting Goods, Inc		162
	373,220		Dollar General Corp		26,025
	36,302		DSW, Inc (Class A)		751
	139,374	*	Etsy, Inc		1,482
	15,800		Fast Retailing Co Ltd		4,972
	10,750		Foot Locker, Inc		804
	51,465	*	Francesca’s Holdings Corp		790
	23,607	*	FTD Cos, Inc		475
	205,782		Gap, Inc		4,998
	22,241	e	GNC Holdings, Inc		164
	27,089		Group 1 Automotive, Inc		2,007
	505,911	*	Groupon, Inc		1,988
	25,226		Haverty Furniture Cos, Inc		614
	177,360		Hennes & Mauritz AB (B Shares)		4,526
	40,709		HSN, Inc		1,510
	417,072		Industria De Diseno Textil S.A.		14,688
	85,000		Jardine Cycle & Carriage Ltd		2,662
	42,250		Kering		10,920
	271,622		Kingfisher plc		1,111
	20,812		Kirkland’s, Inc		258
	259,573		Kohl’s Corp		10,334
	19,780	*,e	Lands’ End, Inc		424
	4,923,620	e	Li & Fung Ltd		2,136
	16,293	*	LKQ Corp		477
	542,041		Lowe’s Companies, Inc		44,561
	30,764	*	MarineMax, Inc		666
	342,665		Marks & Spencer Group plc		1,447
	2,400		Marui Co Ltd		33
	287,818	*	NetFlix, Inc		42,542
	1,271		Next plc		69
	44,668	e	Nordstrom, Inc		2,080

392

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	37,956		Nutri/System, Inc	$	2,107
	721,250		Office Depot, Inc		3,365
	17,187	*	Overstock.com, Inc		296
	26,265	e	PetMed Express, Inc		529
	109,006		Pier 1 Imports, Inc		780
	314,989		Ross Stores, Inc		20,748
	11,640	*	Sally Beauty Holdings, Inc		238
	17,543		Shoe Carnival, Inc		431
	45,030	*	Shutterfly, Inc		2,175
	7,054		Signet Jewelers Ltd		489
	172,882		Staples, Inc		1,516
	10,684	e	Stein Mart, Inc		32
	9,440		Tiffany & Co		900
	15,696		Tile Shop Holdings, Inc		302
	6,138		Tractor Supply Co		423
	61,270	*	Ulta Salon Cosmetics & Fragrance, Inc		17,476
	32,632	*	Vitamin Shoppe, Inc		658
	41,865	*,e	Wayfair, Inc		1,695
	3,470	e	Williams-Sonoma, Inc		186
			TOTAL RETAILING		290,794
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.7%
	19,988		Analog Devices, Inc		1,638
	991,803		Applied Materials, Inc		38,581
	125,324		ASML Holding NV		16,629
	14,878	*	Cirrus Logic, Inc		903
	1,887,437		Intel Corp		68,080
	26,081		Lam Research Corp		3,348
	32,040		Marvell Technology Group Ltd		489
	7,396		Microchip Technology, Inc		546
	392,706		NVIDIA Corp		42,777
	68,538	*	ON Semiconductor Corp		1,062
	130,036		Skyworks Solutions, Inc		12,741
	78,021	*,e	SunPower Corp		476
	522,737		Texas Instruments, Inc		42,112
	48,500		Tokyo Electron Ltd		5,309
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		234,691
SOFTWARE & SERVICES - 5.7%
	369,908		Accenture plc		44,345
	48,870	*	Actua Corp		687
	81,487	*	Alphabet, Inc (Class A)		69,085
	86,702	*	Alphabet, Inc (Class C)		71,924
	22,544		Amadeus IT Holding S.A.		1,142
	53,511	*	Angie’s List, Inc		305
	7,197	*	Ansys, Inc		769
	32,963		Atos Origin S.A.		4,074
	39,833	*	Autodesk, Inc		3,444
	347,452		Automatic Data Processing, Inc		35,576
	14,811	*,e	Black Knight Financial Services, Inc		567
	27,736		Blackbaud, Inc		2,127

393

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	4,460		Booz Allen Hamilton Holding Co	$	158
	22,754		CA, Inc		722
	81,028		Cap Gemini S.A.		7,479
	124,477	*	CGI Group, Inc		5,964
	32,707	*,e	Cimpress NV		2,819
	5,815	*	Citrix Systems, Inc		485
	551,542	*	Cognizant Technology Solutions Corp (Class A)		32,828
	19,152		Convergys Corp		405
	28,146		CSG Systems International, Inc		1,064
	67,536	*	DHI Group, Inc		267
	1,360		DST Systems, Inc		167
	41,722	*	Ellie Mae, Inc		4,183
	16,095	*	Euronet Worldwide, Inc		1,376
	1,924		Forrester Research, Inc		76
	1,018,000		Fujitsu Ltd		6,249
	138,533	*,e	Glu Mobile, Inc		314
	381,489		International Business Machines Corp		66,432
	178,167		Intuit, Inc		20,666
	61,376		j2 Global, Inc		5,150
	50,073		Jack Henry & Associates, Inc		4,662
	68,663		LogMeIn, Inc		6,695
	5,562	*	Manhattan Associates, Inc		290
	477,285		MasterCard, Inc (Class A)		53,680
	1,732,254		Microsoft Corp		114,086
	70,455	*	NeuStar, Inc (Class A)		2,336
	29,149	*	New Relic, Inc		1,081
	31,432		Open Text Corp		1,068
	1,288,042		Oracle Corp		57,460
	46,809	*	Perficient, Inc		813
	9,370	*	PTC, Inc		492
	36,105	*	Qualys, Inc		1,368
	83,541	*	Quotient Technology, Inc		798
	51,910	*	RetailMeNot, Inc		420
	76,390	*	RingCentral, Inc		2,162
	483,057	*	salesforce.com, Inc		39,847
	252,584		SAP AG.		24,780
	194,307	*	ServiceSource International LLC		754
	23,538	*	Silver Spring Networks, Inc		266
	21,993	*	SPS Commerce, Inc		1,286
	21,303	*	Sykes Enterprises, Inc		626
	544,284		Symantec Corp		16,699
	12,352		Syntel, Inc		208
	30,359	*	Teradata Corp		945
	7,887		TiVo Corp		148
	40,808	*	Tyler Technologies, Inc		6,307
	25,582	*	Ultimate Software Group, Inc		4,994
	36,283	*	Vasco Data Security International		490
	56,362	*	Website Pros, Inc		1,088
	39,960		Western Union Co		813
	158,339	*	Workday, Inc		13,186
	810,278	*	Yahoo!, Inc		37,605
			TOTAL SOFTWARE & SERVICES		788,302

394

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
TECHNOLOGY HARDWARE & EQUIPMENT - 2.0%
	28,422	*	Anixter International, Inc	$	2,254
	1,527	*	Arista Networks, Inc		202
	13,715		Badger Meter, Inc		504
	4,043		Belden CDT, Inc		280
	64,501	*	Benchmark Electronics, Inc		2,051
	54,538	*	Calix, Inc		395
	2,001,764		Cisco Systems, Inc		67,659
	34,363		Cognex Corp		2,885
	14,007	*	Coherent, Inc		2,880
	22,719		Comtech Telecommunications Corp		335
	524,752		Corning, Inc		14,168
	52,466	*	Cray, Inc		1,149
	6,759		CTS Corp		144
	22,138		Daktronics, Inc		209
	68,500		Dolby Laboratories, Inc (Class A)		3,590
	747,719	e	Ericsson (LM) (B Shares)		4,992
	45,437	*	Fabrinet		1,910
	19,270	*	FARO Technologies, Inc		689
	94,427	*	Finisar Corp		2,582
	8,777	*	Flextronics International Ltd		147
	12,600		Fujifilm Holdings Corp		494
	1,026,328		Hewlett Packard Enterprise Co		24,324
	1,936,988		HP, Inc		34,633
	11,132	*	Insight Enterprises, Inc		457
	22,123	*	IPG Photonics Corp		2,670
	221,874		Jabil Circuit, Inc		6,417
	36,500		Keyence Corp		14,643
	6,730	*	Keysight Technologies, Inc		243
	34,042	*	Kimball Electronics, Inc		577
	238,300		Konica Minolta Holdings, Inc		2,137
	148,000		Kyocera Corp		8,268
	199,040		Motorola, Inc		17,161
	85,700		Murata Manufacturing Co Ltd		12,209
	8,230		National Instruments Corp		268
	916,819		NEC Corp		2,213
	30,645	*	Netgear, Inc		1,519
	13,605	*	Novanta, Inc		361
	58,800		Omron Corp		2,584
	500	*	OSI Systems, Inc		37
	6,602	*	Plexus Corp		382
	12,858	*	Rogers Corp		1,104
	22,741	*	Sanmina Corp		923
	33,341	*	Scansource, Inc		1,309
	64,222	*	Sonus Networks, Inc		423
	51,310	*	Super Micro Computer, Inc		1,301
	1,417		SYNNEX Corp		159
	39,200		TDK Corp		2,489
	5,247		TE Connectivity Ltd		391
	45,618	*	Tech Data Corp		4,284
	22,178	*	Trimble Navigation Ltd		710
	94,294	*	TTM Technologies, Inc		1,521

395

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	54,064		Universal Display Corp	$	4,655
	1,408,403		Xerox Corp		10,338
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		270,229
TELECOMMUNICATION SERVICES - 1.7%
	47,941	*	Boingo Wireless, Inc		623
	3,334,522		BT Group plc		13,315
	730,468	e	CenturyTel, Inc		17,217
	55,858	*	Cincinnati Bell, Inc		989
	2,650	e	Consolidated Communications Holdings, Inc		62
	3,261	*	Fairpoint Communications, Inc		54
	329,761		France Telecom S.A.		5,120
	797,873	e	Frontier Communications Corp		1,707
	36,348	*	General Communication, Inc (Class A)		756
	267,338	*,e	Globalstar, Inc		428
	23,363		IDT Corp (Class B)		297
	109,486	*,e	Iridium Communications, Inc		1,057
	558,232		KDDI Corp		14,682
	172,966	*	Level 3 Communications, Inc		9,897
	23,855	*	Lumos Networks Corp		422
	298,400		Nippon Telegraph & Telephone Corp		12,758
	519,900		NTT DoCoMo, Inc		12,141
	137,486		Rogers Communications, Inc (Class B)		6,079
	25,635		Shenandoah Telecom Co		719
	4,135,600		Singapore Telecommunications Ltd		11,589
	1,006,530	*	Sprint Corp		8,737
	21,076		Swisscom AG.		9,715
	4,835		Telefonica Deutschland Holding AG.		24
	416,752		TeliaSonera AB		1,747
	8,858		TELUS Corp		288
	1,565,985		Verizon Communications, Inc		76,342
	7,727,786		Vodafone Group plc		20,138
	129,271	e	Windstream Holdings, Inc		704
			TOTAL TELECOMMUNICATION SERVICES		227,607
TRANSPORTATION - 1.6%
	5,192		Aeroports de Paris		642
	93,000		All Nippon Airways Co Ltd		284
	4,146		Arkansas Best Corp		108
	306,566		Auckland International Airport Ltd		1,452
	92,845	*	Avis Budget Group, Inc		2,746
	237,073		Canadian National Railway Co		17,499
	62,700		Central Japan Railway Co		10,241
	5,400		CH Robinson Worldwide, Inc		417
	239,714		CSX Corp		11,159
	152,251		Delta Air Lines, Inc		6,998
	393,685		Deutsche Post AG.		13,473
	143,300		East Japan Railway Co		12,513
	5,004		easyJet plc		64
	36,548	*	Echo Global Logistics, Inc		780
	14,605		Expeditors International of Washington, Inc		825
	35,940		Fraport AG. Frankfurt Airport Services Worldwide		2,541

396

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	62,049	*,e	Hertz Global Holdings, Inc	$	1,088
	307		Kansas City Southern Industries, Inc		26
	723		Kuehne & Nagel International AG.		102
	3,360		Landstar System, Inc		288
	513,000		Mitsui OSK Lines Ltd		1,612
	1,302,302		MTR Corp		7,317
	230,787		Nippon Yusen Kabushiki Kaisha		487
	26,030		Norfolk Southern Corp		2,915
	1,970		Ryder System, Inc		149
	577,349		Southwest Airlines Co		31,038
	2,560	*	Spirit Airlines, Inc		136
	14,066		Sydney Airport		73
	197,000		Tokyu Corp		1,400
	609,892		Transurban Group (ASE)		5,437
	453,054		Union Pacific Corp		47,988
	371,112		United Parcel Service, Inc (Class B)		39,820
	23,313	*	YRC Worldwide, Inc		257
			TOTAL TRANSPORTATION		221,875
UTILITIES - 1.9%
	27,140		AES Corp		303
	89,822		AGL Energy Ltd		1,809
	37,512		American Water Works Co, Inc		2,917
	528,314		APA Group		3,616
	30,410		Atco Ltd		1,182
	46,554		Canadian Utilities Ltd		1,364
	230,104		Centerpoint Energy, Inc		6,344
	1,025,500		CLP Holdings Ltd		10,735
	359,195		Consolidated Edison, Inc		27,895
	235,742		Dominion Resources, Inc		18,286
	84,887		Edison International		6,758
	1,696		Energias de Portugal S.A.		6
	316,448		Eversource Energy		18,601
	106,759		Fortis, Inc		3,538
	5,201,536		Hong Kong & China Gas Ltd		10,407
	2,062,496		Iberdrola S.A.		14,736
	19,652	*	Meridian Energy Ltd		39
	1,295,474		National Grid plc		16,436
	13,180		NiSource, Inc		313
	167,000		Osaka Gas Co Ltd		637
	266,238		Public Service Enterprise Group, Inc		11,808
	578,519		Scottish & Southern Energy plc		10,692
	241,426		Sempra Energy		26,678
	35,973		South Jersey Industries, Inc		1,282
	553,871		Southern Co		27,572
	287,704		Suez Environnement S.A.		4,541
	32,615		Terna Rete Elettrica Nazionale S.p.A.		162
	964,790		Tokyo Gas Co Ltd		4,406
	593,775		United Utilities Group plc		7,393
	225,694		WEC Energy Group, Inc		13,684
	2,969		WGL Holdings, Inc		245
	250,865		Xcel Energy, Inc		11,151

397

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY					VALUE (000)
			TOTAL UTILITIES					$	265,536
			TOTAL COMMON STOCKS						8,203,718
			(Cost $6,176,882)
PREFERRED STOCKS - 0.2%
BANKS - 0.2%
	233,115	*	Federal Home Loan Mortgage Corp						1,457
	740,991	*	Federal National Mortgage Association						4,883
	14,500	*	M&T Bank Corp						16,131
			TOTAL BANKS						22,471
			TOTAL PREFERRED STOCKS						22,471
			(Cost $38,866)
PRINCIPAL			ISSUER	RATE			MATURITY DATE
SHORT-TERM INVESTMENTS - 3.1%
TREASURY DEBT - 1.9%
$	16,500,000		United States Treasury Bill		0.498	%	04/06/17		16,499
	74,200,000		United States Treasury Bill		0.445-0.720		04/13/17		74,185
	118,200,000		United States Treasury Bill		0.501-0.741		04/27/17		118,143
	28,000,000		United States Treasury Bill		0.701		05/18/17		27,975
	27,400,000		United States Treasury Bill		0.691		07/06/17		27,346
			TOTAL TREASURY DEBT						264,148
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.2%
TREASURY DEBT - 1.2%
	23,500,000		United States Treasury Bill		0.700-0.723		04/13/17		23,495
	16,000,000		United States Treasury Bill		0.710		04/20/17		15,994
	105,500,000		United States Treasury Bill		0.726-0.781		04/27/17		105,452
	10,000,000		United States Treasury Bill		0.706		05/18/17		9,991
	10,000,000		United States Treasury Bill		0.751		06/22/17		9,983
			TOTAL TREASURY DEBT						164,915
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						164,915
			TOTAL SHORT-TERM INVESTMENTS						429,063
			(Cost $429,059)
			TOTAL INVESTMENTS - 102.2%						14,064,482
			(Cost $12,039,672)
			OTHER ASSETS & LIABILITIES, NET - (2.2)%						(302,257	)
			NET ASSETS - 100.0%					$	13,762,225

	Abbreviation(s):
	REIT     Real Investment Trust
*	Non-income producing
^	Amount represents less than $1,000.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $175,147,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/17, the aggregate value of these securities was $805,538,000 or 5.9% of net assets.

398

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
j	Zero coupon
m	Indicates a security that has been deemed illiquid.
w	All or a portion of these securities have been segregated to cover collateral requirements on mortgage dollar rolls.
	Cost amounts are in thousands.

399

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

COLLEGE RETIREMENT EQUITIES FUND

MONEY MARKET ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2017

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 100.6%
GOVERNMENT AGENCY DEBT - 61.1%
$	32,780,000	Federal Agricultural Mortgage Corp (FAMC)	0.520%-0.550		%	04/03/17	$	32,779
	25,000,000	FAMC		0.470		04/06/17		24,998
	30,000,000	FAMC		0.510-0.570		04/17/17		29,993
	15,000,000	FAMC		0.510		04/19/17		14,996
	10,000,000	FAMC		0.530		05/02/17		9,996
	27,000,000	FAMC		0.740		05/10/17		26,978
	5,000,000	FAMC		0.550		05/15/17		4,997
	15,000,000	FAMC		0.525-0.770		05/16/17		14,989
	85,550,000	FAMC		0.570-0.700		06/01/17		85,462
	4,000,000	FAMC		0.760		06/09/17		3,994
	14,500,000	FAMC		0.590		06/15/17		14,500
	7,000,000	FAMC		0.810		06/15/17		6,988
	8,000,000	FAMC		0.850		06/23/17		7,984
	8,000,000	FAMC		0.650		07/21/17		7,984
	17,455,000	FAMC		0.630-0.740		07/27/17		17,418
	4,000,000	FAMC		0.780		10/27/17		3,982
	12,610,000	Federal Farm Credit Bank (FFCB)		0.490		04/04/17		12,609
	27,500,000	FFCB		0.720		04/25/17		27,487
	50,000,000	FFCB		0.730		05/01/17		49,970
	25,380,000	FFCB		0.730		05/09/17		25,360
	15,000,000	FFCB		0.540		05/10/17		14,991
	40,000,000	FFCB		0.760		05/19/17		39,959
	40,000,000	FFCB		0.620		05/25/17		39,963
	44,000,000	FFCB		0.580		07/06/17		43,932
	13,400,000	FFCB		0.790-0.810		07/25/17		13,366
	10,000,000	FFCB		0.640		08/03/17		9,978
	3,000,000	FFCB		0.710		09/21/17		2,990
	7,750,000	FFCB		0.750		10/16/17		7,718
	46,552,000	Federal Home Loan Bank (FHLB)		0.525		04/03/17		46,551
	88,705,000	FHLB		0.485-0.580		04/04/17		88,701
	65,340,000	FHLB		0.530-0.550		04/05/17		65,336
	37,500,000	FHLB		0.570		04/06/17		37,497
	156,150,000	FHLB		0.510-0.540		04/07/17		156,136
	77,025,000	FHLB		0.520-0.545		04/10/17		77,015
	109,540,000	FHLB		0.520-0.530		04/11/17		109,524
	42,500,000	FHLB		0.535		04/12/17		42,493
	78,500,000	FHLB		0.530-0.600		04/13/17		78,485
	66,500,000	FHLB		0.470-0.640		04/17/17		66,485
	76,390,000	FHLB		0.530-0.740		04/18/17		76,369
	93,067,000	FHLB		0.500-0.760		04/19/17		93,040
	30,400,000	FHLB		0.540-0.700		04/20/17		30,389
	30,300,000	FHLB		0.525-0.545		04/21/17		30,291
	127,900,000	FHLB		0.620-0.770		04/24/17		127,844
	120,000,000	FHLB		0.650-0.720		04/25/17		119,945
	146,430,000	FHLB		0.545-0.690		04/26/17		146,370
	31,400,000	FHLB		0.530-0.575		04/27/17		31,387

400

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	190,425,000	FHLB	0.540%-0.750		%	04/28/17	$	190,328
	75,000,000	FHLB		0.650-0.750		05/01/17		74,957
	47,450,000	FHLB		0.700-0.750		05/02/17		47,421
	72,157,000	FHLB		0.550-0.782		05/03/17		72,110
	30,000,000	FHLB		0.620-0.760		05/04/17		29,982
	92,965,000	FHLB		0.540-0.755		05/05/17		92,901
	30,000,000	FHLB		0.755		05/08/17		29,977
	73,430,000	FHLB		0.530-0.760		05/09/17		73,383
	91,585,000	FHLB		0.545-0.770		05/10/17		91,527
	2,050,000	FHLB		0.550		05/11/17		2,049
	153,903,000	FHLB		0.550-0.770		05/12/17		153,778
	50,000,000	FHLB		0.760		05/16/17		49,952
	88,320,000	FHLB		0.605-0.765		05/17/17		88,238
	99,567,000	FHLB		0.555-0.765		05/19/17		99,485
	29,500,000	FHLB		0.550		05/22/17		29,477
	84,428,000	FHLB		0.640-0.770		05/24/17		84,333
	133,907,000	FHLB		0.750-0.760		05/26/17		133,751
	7,330,000	FHLB		0.560		05/30/17		7,323
	32,300,000	FHLB		0.660-0.725		06/02/17		32,260
	33,000,000	FHLB		0.625-0.790		06/07/17		32,952
	2,000,000	FHLB		0.800		06/09/17		1,997
	50,000,000	FHLB		0.800		06/14/17		49,918
	79,400,000	FHLB		0.780-0.795		06/16/17		79,268
	17,460,000	FHLB		0.790		06/21/17		17,429
	5,800,000	FHLB		0.810		06/22/17		5,789
	41,950,000	FHLB		0.660-0.785		06/23/17		41,877
	20,000,000	FHLB		0.780		06/26/17		19,963
	25,594,000	FHLB		0.650		06/28/17		25,553
	33,700,000	FHLB		0.780-0.784		06/30/17		33,634
	20,000,000	FHLB		0.775		07/05/17		19,959
	21,800,000	FHLB		0.780		07/06/17		21,755
	68,880,000	FHLB		0.600-0.804		07/07/17		68,755
	20,000,000	FHLB		0.625		07/11/17		19,965
	20,000,000	FHLB		0.800		07/12/17		19,955
	6,000,000	FHLB		0.800		07/17/17		5,986
	39,775,000	FHLB		0.625-0.640		07/19/17		39,698
	2,630,000	FHLB		0.635		07/21/17		2,625
	41,500,000	FHLB		0.635-0.640		07/26/17		41,415
	72,400,000	FHLB		0.635-0.650		07/28/17		72,248
	41,565,000	FHLB		0.650		08/02/17		41,473
	10,000,000	FHLB		0.640		08/03/17		9,978
	72,210,000	FHLB		0.640-0.665		08/09/17		72,041
	20,000,000	FHLB		0.665		08/11/17		19,951
	6,250,000	FHLB		0.680		08/18/17		6,234
	7,000,000	FHLB		0.900		08/25/17		6,974
	5,000,000	FHLB		0.900		09/08/17		4,980
	2,255,000	FHLB		0.680		09/18/17		2,248
	2,335,000	FHLB		0.970		11/01/17		2,321
	6,400,000	FHLB		0.960		11/27/17		6,359
	33,700,000	Federal Home Loan Mortgage Corp (FHLMC)		0.500-0.520		04/05/17		33,698
	59,600,000	FHLMC		0.488-0.590		04/06/17		59,596
	43,000,000	FHLMC		0.520		04/17/17		42,990
	128,885,000	FHLMC		0.470-0.520		04/21/17		128,848
	26,036,000	FHLMC		0.510-0.550		04/26/17		26,027

401

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	67,571,000	FHLMC	0.670%-0.700		%	05/03/17	$	67,530
	25,000,000	FHLMC		0.525		05/04/17		24,988
	41,800,000	FHLMC		0.750		05/11/17		41,765
	7,000,000	FHLMC		0.560		05/17/17		6,995
	15,500,000	FHLMC		0.740		05/18/17		15,485
	22,510,000	FHLMC		0.727		05/19/17		22,488
	98,252,000	FHLMC		0.535-0.650		05/22/17		98,174
	12,000,000	FHLMC		0.755		05/26/17		11,986
	1,325,000	FHLMC		0.640		05/30/17		1,324
	38,887,000	FHLMC		0.620-0.700		06/01/17		38,842
	30,000,000	FHLMC		0.675		06/05/17		29,963
	32,700,000	FHLMC		0.740		06/06/17		32,656
	50,000,000	FHLMC		0.740		06/09/17		49,929
	20,000,000	FHLMC		1.000		06/13/17		20,017
	2,720,000	FHLMC		0.770		06/15/17		2,716
	31,950,000	FHLMC		0.720-0.750		06/19/17		31,899
	72,045,000	FHLMC		0.750-0.755		06/20/17		71,925
	26,475,000	FHLMC		0.755		06/21/17		26,430
	7,000,000	FHLMC		0.790		06/26/17		6,987
	16,000,000	FHLMC		0.550-0.790		07/03/17		15,974
	9,286,000	FHLMC		0.620		07/17/17		9,269
	10,000,000	FHLMC		0.820		08/03/17		9,972
	20,000,000	FHLMC		0.800		08/08/17		19,943
	33,010,000	FHLMC		0.850-0.870		09/05/17		32,887
	12,000,000	FHLMC		0.715		10/02/17		11,956
	2,935,000	FHLMC		0.720		11/02/17		2,922
	67,500,000	Federal National Mortgage Association (FNMA)		0.470-0.590		04/03/17		67,498
	50,000,000	FNMA		0.510		04/04/17		49,998
	53,940,000	FNMA		0.520-0.525		04/05/17		53,937
	50,000,000	FNMA		0.490		04/11/17		49,993
	141,350,000	FNMA		0.480-0.540		04/12/17		141,329
	30,000,000	FNMA		0.510		04/18/17		29,993
	63,325,000	FNMA		0.475-0.510		04/19/17		63,309
	30,000,000	FNMA		0.700		04/25/17		29,986
	31,000,000	FNMA		0.530-0.720		05/01/17		30,983
	40,000,000	FNMA		0.720		05/02/17		39,975
	10,000,000	FNMA		0.720		05/03/17		9,994
	50,000,000	FNMA		0.510		05/05/17		49,976
	25,000,000	FNMA		0.540		05/08/17		24,986
	16,500,000	FNMA		0.525-0.540		05/12/17		16,490
	20,000,000	FNMA		0.730		05/16/17		19,982
	70,000,000	FNMA		0.650-0.740		05/17/17		69,938
	20,000,000	FNMA		0.530		05/22/17		19,985
	46,130,000	FNMA		0.660		05/24/17		46,085
	5,200,000	FNMA		0.750		06/01/17		5,193
	75,000,000	FNMA		0.530-0.775		06/14/17		74,904
	30,000,000	FNMA		0.775		06/21/17		29,948
	35,000,000	FNMA		0.780		06/28/17		34,933
	28,300,000	FNMA		0.595		07/12/17		28,252
	10,000,000	FNMA		0.780		08/01/17		9,974
		TOTAL GOVERNMENT AGENCY DEBT						6,190,573

402

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
TREASURY DEBT - 21.2%
$	61,630,000		United States Treasury Bill	0.471%-0.530		%	04/06/17	$	61,626
	100,000,000		United States Treasury Bill		0.465-0.535		04/13/17		99,983
	108,795,000		United States Treasury Bill		0.456-0.600		04/20/17		108,765
	100,670,000		United States Treasury Bill		0.491-0.776		04/27/17		100,631
	93,580,000		United States Treasury Bill		0.502-0.630		05/04/17		93,531
	100,000,000		United States Treasury Bill		0.525-0.677		05/11/17		99,935
	104,910,000		United States Treasury Bill		0.519-0.725		05/18/17		104,825
	110,000,000		United States Treasury Bill		0.493-0.702		05/25/17		109,909
	20,000,000		United States Treasury Bill		0.520		06/01/17		19,982
	97,550,000		United States Treasury Bill		0.545-0.705		06/08/17		97,440
	40,000,000		United States Treasury Bill		0.740-0.775		06/15/17		39,937
	103,725,000		United States Treasury Bill		0.640-0.760		06/22/17		103,551
	63,650,000		United States Treasury Bill		0.746-0.788		06/29/17		63,532
	20,000,000		United States Treasury Bill		0.587		07/13/17		19,966
	40,000,000		United States Treasury Bill		0.621-0.791		08/03/17		39,903
	50,000,000		United States Treasury Bill		0.626-0.635		08/10/17		49,886
	77,315,000		United States Treasury Bill		0.612-0.785		08/17/17		77,120
	53,435,000		United States Treasury Bill		0.645-0.825		08/24/17		53,276
	10,000,000		United States Treasury Bill		0.803		08/31/17		9,966
	370,000		United States Treasury Bill		0.650		10/12/17		369
	40,880,000		United States Treasury Note		0.875		05/15/17		40,894
	100,000,000		United States Treasury Note		0.625		05/31/17		100,005
	40,000,000		United States Treasury Note		0.625		06/30/17		40,000
	50,000,000		United States Treasury Note		0.750		06/30/17		50,009
	70,000,000		United States Treasury Note		0.500		07/31/17		69,960
	30,000,000		United States Treasury Note		0.625		07/31/17		29,986
	90,200,000		United States Treasury Note		0.875		08/15/17		90,266
	110,000,000		United States Treasury Note		0.625		08/31/17		109,970
	102,520,000		United States Treasury Note		1.000		09/15/17		102,660
	80,500,000		United States Treasury Note		0.750		10/31/17		80,492
	20,975,000		United States Treasury Note		0.875		11/15/17		20,973
	15,995,000		United States Treasury Note		0.875		11/30/17		16,002
	40,700,000		United States Treasury Note		1.000		12/15/17		40,705
			TOTAL TREASURY DEBT						2,146,055
VARIABLE RATE SECURITIES - 18.3%
	45,000,000	i	Federal Agricultural Mortgage Corp (FAMC)		0.992		06/07/17		45,000
	45,000,000	i	FAMC		0.834		08/01/17		45,002
	45,000,000	i	FAMC		0.890		09/06/17		45,000
	14,700,000	i	FAMC		0.942		09/21/17		14,700
	50,000,000	i	FAMC		0.970		10/27/17		50,000
	15,000,000	i	FAMC		0.782		01/26/18		14,988
	45,000,000	i	FAMC		1.030		03/23/18		45,000
	25,000,000	i	FAMC		0.754		11/01/18		25,000
	28,900,000	i	Federal Farm Credit Bank (FFCB)		1.000		04/10/17		28,900
	14,750,000	i	FFCB		1.100		05/23/17		14,752
	58,300,000	i	FFCB		1.150		05/30/17		58,311
	105,000,000	i	FFCB		0.907		06/15/17		104,998
	50,000,000	i	FFCB		1.040		06/27/17		49,990
	72,000,000	i	FFCB		0.923		07/17/17		71,999
	50,000,000	i	FFCB		0.970		08/04/17		49,996
	69,700,000	i	FFCB		0.809		08/15/17		69,700
	12,000,000	i	FFCB		1.007		11/13/17		12,000
	40,000,000	i	FFCB		0.973		01/17/18		39,978

403

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	46,500,000	i	FFCB		1.020	%	01/22/18	$	46,563
	37,000,000	i	FFCB		0.839		02/02/18		36,966
	3,750,000	i	FFCB		1.004		02/06/18		3,749
	25,000,000	i	FFCB		1.127		02/23/18		24,997
	50,000,000	i	FFCB		1.012		03/22/18		49,951
	10,000,000	i	FFCB		1.100		05/14/18		10,011
	16,000,000	i	FFCB		1.130		05/17/18		16,004
	25,000,000	i	FFCB		1.120		06/13/18		24,997
	40,000,000	i	FFCB		0.747		08/08/18		40,001
	20,000,000	i	FFCB		1.150		08/10/18		20,005
	46,700,000	i	FFCB		1.012		08/27/18		46,697
	95,000,000	i	FFCB		0.893		09/17/18		94,986
	10,000,000	i	FFCB		1.122		09/18/18		10,025
	50,000,000	i	FFCB		0.886		11/14/18		49,994
	75,000,000	i	Federal Home Loan Bank (FHLB)		0.903		02/23/18		75,009
	50,000,000	i	FHLB		0.765		04/20/18		50,002
	72,500,000	i	FHLB		0.830		01/18/19		72,504
	20,000,000	i	FHLB		0.804		02/13/19		20,002
	11,300,000	i	Federal Home Loan Mortgage Corp (FHLMC)		0.983		04/20/17		11,300
	30,000,000	i	FHLMC		1.022		04/27/17		30,000
	50,000,000	i	FHLMC		1.106		07/21/17		49,998
	25,000,000	i	FHLMC		0.924		11/13/17		25,000
	78,000,000	i	Federal National Mortgage Association (FNMA)		0.998		07/20/17		77,983
	94,500,000	i	FNMA		0.938		08/16/17		94,496
	66,140,000	i	FNMA		0.840		10/05/17		66,126
	20,000,000	i	FNMA		1.102		03/21/18		20,032
			TOTAL VARIABLE RATE SECURITIES						1,852,712
			TOTAL SHORT-TERM INVESTMENTS						10,189,340
			(Cost $10,189,340)
			TOTAL INVESTMENTS - 100.6%						10,189,340
			(Cost $10,189,340)
			OTHER ASSETS & LIABILITIES, NET - (0.6)%						(64,597	)
			NET ASSETS - 100.0%					$	10,124,743

i	Floating or variable rate security. Coupon rate reflects the rate at period end.
	Cost amounts are in thousands.

404

COLLEGE RETIREMENT EQUITIES FUND - Notes to Schedules of Investments (unaudited)

Note 1—organization and significant accounting policies

The purpose of the College Retirement Equities Fund (“CREF”), as stated in its charter, is to aid and strengthen non-profit educational and research organizations, governmental entities, and other non-profit institutions by providing their employees with variable retirement benefits. CREF is registered with the Securities and Exchange Commission (“Commission”) under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end management investment company. It consists of eight investment portfolios: the Stock, Global Equities, Growth, Equity Index, Bond Market, Inflation-Linked Bond, Social Choice and Money Market Accounts (individually referred to as the “Account” or collectively referred to as the “Accounts”).

The accompanying schedules of investments were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) which may require the use of estimates made by management. Actual results may differ from those estimates. The Accounts are investment companies and follow the accounting guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 946, Financial Services—Investment Companies. The following is a summary of the significant accounting policies consistently followed by the Accounts.

Security valuation: For all Accounts (other than the Money Market Account), investments in securities are recorded at their estimated fair value as described in the valuation of investments note to the schedule of investments. Investments held by the Money Market Account are recorded at amortized cost, which approximates fair value. The amortized cost of an instrument is determined by valuing it at its original cost and thereafter accreting or amortizing any discount or premium to its face value at a constant rate until maturity.

Investment transactions: Security transactions are accounted for as of the trade date for financial reporting purposes.

Foreign currency transactions and translation: Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day using exchange rates obtained from an independent third party. Purchases and sales of securities, income, and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on realized and unrealized security gains and losses is reflected as a component of security gains and losses.

New accounting pronouncement: In March 2017, the FASB issued ASU 2017-08, Premium Amortization on Purchased Callable Debt Securities. ASU 2017-08 shortens the premium amortization period on a purchased callable debt security from the security’s contractual life to the earliest call date. It is anticipated that this change will reduce losses recognized when a security is called on an earlier date. This guidance is effective for fiscal years beginning after December 15, 2018. Management is currently assessing the impact of the guidance on the Accounts’ financial statements.

New rule issuances: In October 2016, the Commission issued Final Rule Release No. 33-10231, Investment Company Reporting Modernization. This final rule modernizes investment company reporting by requiring the filing of new forms N-PORT and N-CEN, and amends Regulation S-X disclosures related to derivatives and other disclosures in the financial statements and other filings. The requirements of this final rule in relation to forms N-PORT and N-CEN must be adopted by June 1, 2018, while the amended disclosures must be adopted by August 1, 2017. Management is currently assessing the impact of this rule to the Accounts’ financial statements and other filings.

In October 2016, the Commission issued Final Rule Release No. 33-10233, Investment Company Liquidity Risk Management Programs. This final rule requires accounts to establish a liquidity risk management program and enhances disclosures regarding accounts liquidity. The requirements of this final rule must be adopted by December 1, 2018. Management is currently assessing the impact of this rule to the Account’s financial statements and other filings.

In October 2016, the Commission issued Final Rule Release No. 33-10234, Investment Company Swing Pricing. This final rule permits certain accounts to use swing pricing during periods of heavy redemptions and requires certain disclosures regarding the use of swing pricing in forms filed with the Commission. Management may elect to adopt the provisions of this final rule by November 19, 2018. Management is currently assessing the impact of this rule to the Accounts’ financial statements and other filings.

In March 2017, the Commission issued Final Rule Release No. 34-80295, Amendment to Securities Transaction Settlement Cycle. This final rule shortens the standard settlement cycle from T+3 to T+2. It is expected that this shortened settlement time will decrease certain risks due to the reduction of unsettled trades and risk exposure. The compliance date for this final rule is September 5, 2017. Management is currently assessing the impact of this rule to the Accounts’ financial statements and other filings.

Note 2—valuation of investments

Portfolio investments are valued at fair value utilizing various valuation methods approved by the Board. U.S. GAAP establishes a hierarchy that prioritizes market inputs to valuation methods. The three levels of inputs are:

405

COLLEGE RETIREMENT EQUITIES FUND - Notes to Schedules of Investments (unaudited)

• Level 1 – quoted prices in active markets for identical securities

• Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.)

• Level 3 – significant unobservable inputs (including the Accounts’ own assumptions in determining the fair value of investments)

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Certain portfolio investments that are measured at fair value using the net asset value per share practical expedient are not categorized within the fair value hierarchy. As of March 31, 2017, no investments were valued utilizing the practical expedient.

A description of the valuation techniques applied to the Accounts’ major categories of assets and liabilities measured at fair value follows:

Exchange-traded equity securities, common and preferred stock: Equity securities listed or traded on a national market or exchange are valued based on their sale price at the official close of business of such market or exchange on the valuation date, or if there is no official close of business, the latest sale price, or at the mean of the latest available bid and asked prices if no sale is reported. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Foreign equity securities are valued at the last sale price or official closing price reported on the exchange where traded and converted to U.S. dollars at the prevailing rates of exchange on the date of valuation. For events affecting the value of foreign securities between the time when the exchange on which they are traded closes and the time when the Accounts’ net assets are calculated, such securities will be valued at fair value in accordance with procedures adopted by the Board. Foreign securities are generally categorized in Level 2 of the fair value hierarchy.

Debt securities: Debt securities, including equity-linked notes, will generally be valued using prices provided by a pricing service that may employ various indications of value including but not limited to broker-dealer quotations. Certain debt securities, other than money market instruments, are valued based on the most recent bid price or the equivalent quoted yield for such securities (or those of comparable maturity, quality and type). Debt securities are generally categorized in Level 2 of the fair value hierarchy; in instances where prices, yields or any other key inputs are unobservable, they are categorized in Level 3 of the hierarchy.

The Money Market Account: The Money Market Account’s portfolio securities are valued on an amortized cost basis. Money Market investments are generally categorized in Level 2 of the fair value hierarchy.

Investments in registered investment companies: These investments are valued at their net asset value on the valuation date. These investments are categorized in Level 1 of the fair value hierarchy.

Futures contracts: Stock and bond index futures contracts, which are traded on commodity exchanges, are valued at the last sale price as of the close of such commodity exchanges and are categorized in Level 1 of the fair value hierarchy.

Options: Purchased and written options listed or traded on a national market or exchange are valued at the last sale price as of the close of such exchange or at the mean of the closing bid and asked prices if no sale is reported. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy.

Total return swap contracts: Total return swap contracts are marked-to-market daily based upon a price supplied by a pricing service. Total return swaps are generally categorized as Level 2 in the fair value hierarchy.

Forward foreign currency contracts: Forward foreign currency contracts are valued using the prevailing forward exchange rate and are categorized in Level 2 of the fair value hierarchy.

Any portfolio security for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued at fair value, as determined in good faith using procedures approved by the Board. To the extent the inputs are observable and timely, the values would be categorized in Level 2 of the fair value hierarchy; otherwise they would be categorized as Level 3.

Transfers between levels are recognized at the end of the reporting period. For the period ended March 31, 2017, there were no material transfers between levels by the Accounts.

As of March 31, 2017, 100% of the value of investments in the Inflation-Linked Bond and Money Market Accounts were valued based on Level 2 inputs.

The following table summarizes the market value of the Accounts’ investments as of March 31, 2017, based on the inputs used to value them (dollar amounts are in thousands):

406

COLLEGE RETIREMENT EQUITIES FUND - Notes to Schedules of Investments (unaudited)

Account	Level 1			Level 2		Level 3		Total
Stock
Equity investments:
Consumer discretionary	$	10,835,531		$	4,616,940	$	1,022	$	15,453,493
Consumer staples		6,505,493			3,184,644		1,948		9,692,085
Energy		5,620,694			2,156,534		157		7,777,385
Financials		12,036,957			7,502,810		734		19,540,501
Health care		10,487,058			2,756,293		366		13,243,717
Industrials		8,853,252			4,384,413		1,013		13,238,678
Information technology		17,961,892			3,382,984		570		21,345,446
Materials		2,976,234			3,037,808		1,068		6,015,110
Real estate		2,741,869			1,501,258		3,850		4,246,977
Telecommunication services		1,728,657			1,285,710		2		3,014,369
Utilities		2,222,923			975,754		877		3,199,554
Corporate bonds		-			-		433		433
Government bonds		-			297		-		297
Short-term investments		-			3,388,121		-		3,388,121
Purchased options**		413			-		-		413
Written options**		(430	)		-		-		(430	)
Futures contracts**		175			-		-		175
Total	$	81,970,718		$	38,173,566	$	12,040	$	120,156,324
Global Equities
Equity investments:
Asia	$	25,133		$	1,588,526	$	-	$	1,613,659
Australasia		20,912			285,306		2		306,220
Europe		41,214			3,065,327		-		3,106,541
North America		11,187,467			606,445		-		11,793,912
All other equity investments*		160,594			1,592,242		13		1,752,849
Short-term investments		-			485,721		-		485,721
Futures contracts**		(413	)		-		-		(413	)
Total	$	11,434,907		$	7,623,567	$	15	$	19,058,489
Growth
Equity investments:
Consumer discretionary	$	4,788,744		$	131,551	$	-	$	4,920,295
Consumer staples		1,445,927			48,180		-		1,494,107
Health care		2,953,571			52,157		-		3,005,728
Information technology		8,141,348			109,416		-		8,250,764
Real estate		173,595			51		-		173,646
All other equity investments *		4,211,555			-		-		4,211,555
Short-term investments		134,835			182,914		-		317,749
Futures contracts**		(412	)		-		-		(412	)
Total	$	21,849,163		$	524,269	$	-	$	22,373,432
Equity Index
Equity investments:
Health care	$	2,414,051		$	-	$	109	$	2,414,160
Industrials		1,930,991			-		119		1,931,110
Real estate		726,010			1,411		-		727,421
All other equity investments *		13,054,124			-		-		13,054,124
Short-term investments		256,716			-		-		256,716
Total	$	18,381,892		$	1,411	$	228	$	18,383,531

407

COLLEGE RETIREMENT EQUITIES FUND - Notes to Schedules of Investments (unaudited)

Account	Level 1		Level 2		Level 3		Total
Bond Market
Bank loan obligations	$	-	$	93,610	$	-	$	93,610
Corporate bonds		-		4,853,141		-		4,853,141
Government bonds		-		5,855,644		26,825		5,882,469
Structured assets		-		2,366,912		15,779		2,382,691
Preferred stocks		13,005		-		-		13,005
Short-term investments		-		753,008		-		753,008
Forward foreign currency contracts**		747		-		-		747
Total	$	13,752	$	13,922,315	$	42,604	$	13,978,671
Social Choice
Equity investments:
Consumer discretionary	$	728,883	$	303,149	$	-	$	1,032,032
Consumer staples		455,851		210,318		-		666,169
Energy		343,648		154,884		-		498,532
Financials		888,430		595,004		-		1,483,434
Health care		806,051		241,797		-		1,047,848
Industrials		576,680		347,902		-		924,582
Information technology		1,170,497		122,726		-		1,293,223
Materials		220,399		212,886		-		433,285
Real estate		266,307		87,634		-		353,941
Telecommunication services		120,011		107,596		-		227,607
Utilities		173,838		91,698		-		265,536
Bank loan obligations		-		63,318		-		63,318
Corporate bonds		-		1,560,942		-		1,560,942
Government bonds		-		3,334,915		10,317		3,345,232
Structured assets		-		435,349		4,389		439,738
Short-term investments		-		429,063		-		429,063
Total	$	5,750,595	$	8,299,181	$	14,706	$	14,064,482

*	For detailed categories, see the accompanying Schedule of investments.
**	Derivative instruments, excluding purchased options, are not reflected in the Schedule of investments.

Note 3—derivative instruments

As defined by U.S. GAAP, a derivative is a financial instrument whose value is derived from an underlying security price, foreign exchange rate, interest rate, index of prices or rates, or other variables. Derivatives require little or no initial investment and permit or require net settlement. The Accounts value derivatives at fair value.

Futures contracts: Certain Accounts are subject to equity price risk in the normal course of pursuing their investment objectives. The Accounts use futures contracts to manage exposure to the equity markets and for cash management purposes to remain highly invested in these markets while minimizing transaction costs. Buying futures contracts tends to increase exposure to the underlying instrument/index, while selling futures contracts tends to decrease exposure to the underlying instrument/index or hedge other investments. Initial margin deposits are made upon entering into a futures contract, and variation margin receipts or payments are settled daily reflecting changes in the value of the futures contracts. Daily changes in the value of such contracts are reflected in net unrealized gains and losses. Gains or losses are realized upon the expiration or closing of the futures contracts or if the counterparties do not perform in accordance with contractual provisions. With futures contracts, there is minimal counterparty credit risk to the Accounts since futures contracts are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded funds, guarantees the futures contracts against default.

408

COLLEGE RETIREMENT EQUITIES FUND - Notes to Schedules of Investments (unaudited)

At March 31, 2017, the Accounts held the following open futures contracts (dollar amounts are in thousands):

Account	Futures contracts	Number of long(short) contracts		Settlement value		Expiration date	Unrealized gain (loss)
Stock	Russell 2000 Mini Index		274	$	18,966	June 2017	$	221
	S&P 500 E Mini Index		1,717		202,537	June 2017		(171	)
	S&P Mid-Cap 400 E-Mini Index		144		24,742	June 2017		125
Total			2,135	$	246,245		$	175
Global Equities	S&P 500 E Mini Index		852		100,502	June 2017		(413	)
Growth	S&P 500 E Mini Index		1,100		129,756	June 2017		(412	)

Options: Certain Accounts are subject to equity price risk in the normal course of pursuing their investment objectives. To manage the risk, the Accounts may invest in both equity and index options. The Accounts use options contracts for hedging and cash management purposes and to seek to increase total return. Call and put equity options give the holder the right, in return for a premium paid, to purchase or sell, respectively, a security at a specified exercise price at any time during the period of the option. Index options are written or purchased options in which the underlying investment is a specified index. The exercise of an index option will not result in the physical delivery of the underlier, but a cash transfer of the difference between the settlement price of the underlier and the strike price of the option. Purchased options are included in the schedule of investments. Premiums on unexercised, expired options are recorded as realized gains or losses; premiums on exercised options are recorded as an adjustment to the proceeds from the sale or cost of the purchase. The difference between the premium and the amount received or paid in a closing transaction is also treated as a realized gain or loss. Risks related to the use of options include possible illiquidity of the options markets, and price movements in underlying security values.

Purchased options outstanding as of March 31, 2017 were as follows (dollar amounts are in thousands):
	Number of contracts		Value
Stock Account
Alexion Pharmaceuticals, Inc, Call, 1/19/18 at $130		20	$	23
Amazon.com, Inc, Call, 1/19/18 at $850		15		154
Apple, Inc, Call, 11/17/17 at $130		20		37
Apple, Inc, Call, 11/17/17 at $145		20		19
Apple, Inc, Call, 11/17/17 at $160		10		4
Bank of America Corp, Call, 7/21/17 at $25		30		2
Cigna Corp, Call, 4/21/17 at $170		10		1
E*TRADE Financial Corp, Call, 7/21/17 at $41		25		1
Incyte Corp, Call, 4/21/17 at $175		5		–
McKesson Corp, Call, 8/18/17 at $160		20		9
S&P 500 Index, Call, 12/15/17 at $2400		20		160
Seattle Genetics, Inc, Call, 12/15/17 at $75		5		3
Total		200	$	413
Written options outstanding as of March 31, 2017 were as follows (dollar amounts are in thousands):
	Number of Contracts		Value
Stock Account
AbbVie, Inc, Put, 4/21/17 at $62.50		15	$	–
Alexion Pharmaceuticals, Inc, Call, 1/19/18 at $155		20		(10	)
Alexion Pharmaceuticals, Inc, Put, 1/19/18 at $100		20		(15	)
Amazon.com, Inc, Call, 1/19/18 at $960		10		(50	)
Amazon.com, Inc, Call, 1/19/18 at $910		10		(71	)
Amazon.com, Inc, Put, 1/19/18 at $600		10		(6	)
Apple, Inc, Put, 11/17/17 at $115		20		(3	)
Apple, Inc, Call, 11/17/17 at $140		30		(36	)
Apple, Inc, Call, 11/17/17 at $155		20		(11	)
Apple, Inc, Put, 11/17/17 at $95		20		(1	)
Apple, Inc, Call, 11/17/17 at $150		20		(14	)
Bank of America Corp, Put, 7/21/17 at $19		30		–
Bank of America Corp, Call, 7/21/17 at $28		30		–
Celgene Corp, Put, 1/19/18 at $95		25		(8	)

409

COLLEGE RETIREMENT EQUITIES FUND - Notes to Schedules of Investments (unaudited)

	Number of Contracts		Value
Chicago Board Options Exchange SPX Volatility Index, Put, 4/19/17 at $12		5	$	–
Cigna Corp, Put, 4/21/17 at $110		20		–
Citizens Financial Group, Inc, Put, 4/21/17 at $30		20		–
Computer Sciences Corp, Put, 4/21/17 at $67.50		15		(2	)
Continental Resources, Inc, Put, 4/21/17 at $38		15		–
E*TRADE Financial Corp, Put, 7/21/17 at $30		25		(2	)
E*TRADE Financial Corp, Call, 7/21/17 at $45		25		–
Edwards Lifesciences Corp, Put, 4/21/17 at $88		15		(1	)
Incyte Corp, Call, 4/21/17 at $185		10		(1	)
Incyte Corp, Call, 4/21/17 at $190		4		–
McKesson Corp, Call, 8/18/17 at $175		20		(2	)
McKesson Corp, Call, 8/18/17 at $170		20		(4	)
MGM Resorts International, Put, 4/21/17 at $24		30		–
Microsoft Corp, Put, 5/19/17 at $57.50		30		(1	)
Monsanto Co, Put, 1/19/18 at $80		20		(2	)
Mylan NV, Put, 4/21/17 at $32.50		30		–
NCR Corp, Put, 4/21/17 at $37		20		–
NVIDIA Corp, Put, 5/19/17 at $90		20		(2	)
S&P 500 Index, Call, 12/15/17 at $2500		40		(140	)
Seattle Genetics, Inc, Call, 12/15/17 at $90		10		(3	)
TransDigm Group, Inc, Put, 4/21/17 at $170		10		(1	)
TransDigm Group, Inc, Put, 4/21/17 at $210		120		(44	)
Total		804	$	(430	)

Forward foreign currency contracts: Certain Accounts are subject to foreign exchange risk in the normal course of pursuing their investment objectives. The Accounts use forward foreign currency contracts (“forwards”), including Non-Deliverable forwards (“NDFs”), to, among other things, hedge portfolio currency risk and to facilitate transactions in securities denominated in foreign currencies. Forwards are over-the-counter (“OTC”) commitments that involve an obligation to purchase or sell a fixed amount of a specific currency on a future date at a locked exchange rate. NDFs allow hedging of currencies where government regulations restrict foreign access to local currency or the parties want to compensate for risk without a physical exchange of funds. Forwards are marked-to-market daily at the applicable foreign exchange rate, and any resulting unrealized gains or losses are recorded as appreciation or depreciation. The Accounts realize gains and losses at the time the forward is closed.

At March 31, 2017, the CREF Bond Market Account held the following open forward contracts (dollar amounts are in thousands):

Account	Counterparty	Contract settlement date	Receive		Deliver		Unrealized appreciation (depreciation)
Bond Market	Bank of America	4/28/2017	$	8,786	AUD	11,481	$	19
	Bank of America	4/28/2017	EUR	1,364	$	1,466		(8	)
	Bank of America	4/28/2017	$	556	NZD	792		1
	Bank of America	4/28/2017	$	23,343	GBP	18,780		(203	)
	Bank of America	4/28/2017	$	7,789	KRW	8,657,583		40
	Total						$	(151	)
	Morgan Stanley	4/28/2017	$	9,912	CAD	13,254	$	(59	)
	Morgan Stanley	4/28/2017	$	1,171	DKK	8,090		9
	Morgan Stanley	4/28/2017	$	80,270	EUR	74,502		691
	Morgan Stanley	4/28/2017	$	1,078	HUF	310,000		5
	Morgan Stanley	4/28/2017	$	33,961	JPY	3,763,353		119
	Morgan Stanley	4/28/2017	$	1,763	NOK	15,042		10
	Morgan Stanley	4/28/2017	$	2,852	PLN	11,240		19
	Morgan Stanley	4/28/2017	$	1,566	ZAR	20,425		51
	Morgan Stanley	4/28/2017	$	5,768	SEK	51,139		53
	Total						$	898
Total							$	747

410

COLLEGE RETIREMENT EQUITIES FUND - Notes to Schedules of Investments (unaudited)

Abbreviation(s):

AUD	Australian Dollar
CAD	Canadian Dollar
DKK	Danish Krone
EUR	Euro
GBP	Pound Sterling
HUF	Hungarian Forint
JPY	Japanese Yen
KRW	Korean Won
NOK	Norwegian Krone
NZD	New Zealand Dollar
PLN	Polish Zloty
SEK	Swedish Krona
ZAR	South African Rand
SGD	Singapore Dollar
ZAR	South African Rand

Note 4—affiliated investments

Companies in which an Account holds 5% or more of the outstanding voting shares are considered “affiliated companies” of the Account, pursuant to the 1940 Act. As of March 31, 2017, there were no affiliated investments.

Note 5—investments

Securities lending: Certain Accounts may lend their securities to qualified institutional borrowers to earn additional income. An Account receives collateral (in the form of cash, Treasury securities or other collateral permitted by applicable law) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of loaned securities during the period of the loan; any additional collateral required due to changes in security values is delivered to the Account the next business day. Cash collateral received by the Account will generally be invested in high-quality short-term instruments or in one or more funds maintained by the securities lending agent (“Agent”) for the purpose of investing cash collateral. The value of the loaned securities are reflected in the schedule of investments. As of March 31, 2017, securities lending transactions (with the exception of the Social Choice Account) are for equity securities, and the resulting loans are continuous, can be recalled at any time, and have no set maturity. For the Social Choice Account, all loans from securities lending transactions are continuous, can be recalled at any time, and have no set maturity, with $138,531,000 of equity securities pledged as collateral and $36,616,000 of fixed income securities pledged as collateral. In lending its securities, an Account bears the market risk with respect to the investment of collateral and the risk that the Agent may default on its contractual obligations to the Account. The Agent bears the risk that the borrower may default on its obligation to return the loaned securities as the Agent is contractually obligated to indemnify the Account if at the time of a default by a borrower some or all of the loan securities have not been returned.

Repurchase agreements: Each Account may enter into repurchase agreements with banks or broker-dealers. Repurchase agreements involve the purchase of securities from an institution, subject to the seller’s agreement to repurchase and the Account’s agreement to resell such securities at a mutually agreed-upon price. Pursuant to the terms of the repurchase agreement, securities purchased subject to repurchase agreements must have an aggregate market value greater than or equal to the agreed- upon repurchase price plus accrued interest at all times. If the value of the underlying securities falls below the value of the repurchase price plus accrued interest, the Account will require the seller to deposit additional collateral by the next business day. If a request for additional collateral is not met, or if the seller defaults on its repurchase obligation, the Account maintains the right to sell the underlying securities at market value and pursue a claim for any remaining loss against the seller.

Securities purchased on a when-issued or delayed-delivery basis: The Accounts may purchase securities on a when-issued or delayed-delivery basis. Securities purchased or sold on a when-issued or delayed-delivery basis may be settled a month or more after trade date; interest income is not accrued until settlement date. At the time an Account enters into such transactions, it is required to have segregated assets with a current value at least equal to the amount of its when-issued or delayed-delivery purchase commitments.

Treasury Inflation-Protected Securities: The Accounts (other than the Money Market Account) may invest in Treasury Inflation-Protected Securities, specially structured bonds in which the principal amount is adjusted periodically to keep pace with inflation, as measured by the U.S. Consumer Price Index.

Mortgage dollar roll transactions: Some of the Accounts may enter into mortgage dollar rolls in which an Account sells mortgage securities for delivery in the current month, realizing a gain (loss), and simultaneously contracts to repurchase similar securities on a specified future date. During the roll period, an Account forgoes principal and interest paid on the securities. The Account is compensated by the interest earned on the cash proceeds of the initial sale and by the lower repurchase price at the future date. The difference between the sales proceeds and the lower repurchase price is recorded as a realized gain. The Account maintains a segregated account, the dollar value of which is at least equal to its obligations with respect to dollar rolls.

411

COLLEGE RETIREMENT EQUITIES FUND - Notes to Schedules of Investments (unaudited)

Restricted securities: Restricted securities held by the Accounts, if any, may not be sold except in exempt transactions or in a public offering registered under the Securities Act of 1933. The risk of investing in such securities is generally greater than the risk of investing in securities that are widely held and publicly traded.

Net unrealized appreciation (depreciation): At March 31, 2017, net unrealized appreciation (depreciation) based on the aggregate cost of portfolio investments for federal income tax purposes, consisting of gross unrealized appreciation and gross unrealized depreciation was as follows (dollar amounts are in thousands):

Account	Gross unrealized appreciation		Gross unrealized (depreciation)			Net unrealized appreciation (depreciation)
Stock	$	18,458,774	$	(3,678,833	)	$	14,779,941
Global Equities		2,557,930		(464,047	)		2,093,883
Growth		4,580,310		(300,519	)		4,279,791
Equity Index		9,545,928		(453,282	)		9,092,646
Bond Market		162,419		(184,900	)		(22,481)
Inflation-Linked Bond		319,870		(31,896	)		287,974
Social Choice		2,315,892		(291,082	)		2,024,810

412

Item 2. Controls and Procedures.

(a) An evaluation was performed within 90 days of the filing date of the report under the supervision of the Registrant’s management, including the principal executive officer and principal financial officer, of the effectiveness of the design and operation of the Registrant’s disclosure controls and procedures. Based on that evaluation, the Registrant’s management, including the principal executive officer and principal financial officer, concluded that the Registrant’s disclosure controls and procedures were effective for this quarterly reporting period.

(b) There were no changes in the Registrant’s internal control over financial reporting that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

Item 3. Exhibits.

3(a) Section 302 certification of the principal executive officer

3(b) Section 302 certification of the principal financial officer

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

COLLEGE RETIREMENT EQUITIES FUND

Dated:  May 18, 2017	By:	/s/Carol W. Deckbar
		Carol W. Deckbar
		Principal Executive Officer and Executive Vice President

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

Dated:  May 18, 2017	By:	/s/Carol W. Deckbar
		Carol W. Deckbar
		Principal Executive Officer and Executive Vice President
		(principal executive officer)
Dated: May 18, 2017	By:	/s/Glenn E. Brightman
		Glenn E. Brightman
		Executive Vice President, Chief Financial Officer and
		Principal Accounting Officer (principal financial officer)

EXHIBIT LIST

Item 3. Exhibits.

3(a) Section 302 certification of the principal executive officer

3(b) Section 302 certification of the principal financial officer

EX-99.CERT

Exhibit 3(a)

CERTIFICATION

I, Carol W. Deckbar, certify that:

1. I have reviewed this report on Form N-Q of the College Retirement Equities Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the Registrant as of the end of the fiscal quarter for which the report is filed;

4. The Registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer(s) and I have disclosed to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Dated:  May 18, 2017	By:	/s/Carol W. Deckbar
		Carol W. Deckbar
		Principal Executive Officer and Executive Vice President
		(principal executive officer)

Exhibit 3(b)

CERTIFICATION

I, Glenn E. Brightman, certify that:

1. I have reviewed this report on Form N-Q of the College Retirement Equities Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the Registrant as of the end of the fiscal quarter for which the report is filed;

4. The Registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer(s) and I have disclosed to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Dated:  May 18, 2017	By:	/s/Glenn E. Brightman
		Glenn E. Brightman
		Executive Vice President, Chief Financial Officer and
		Principal Accounting Officer (principal financial officer)